Victor Manuel Lang (victormlang@gmail.com) is Director and Owner of Estudio Lang Consulting in Santa Fe, Argentina.

The Argentina government under President Mauricio Macri (Cambiemos) promoted Law 27.401 on corporate responsibility, and the National Congress sanctioned it November 8, 2017. The law passed through Decree 986/2017 on December 1, 2017, and it was published in the Official Gazette with the signature of President Macri, Chief of Staff Marcos Peña, and Justice Minister Germán Garavano.

The project was promoted at the request of the Organisation for Economic Co-operation and Development (OECD). It received a half sanction in the Chamber of Deputies and underwent modifications in the Senate, so the initiative returned to the House of Representatives. There the initiative obtained 141 votes in favor, 6 against, and 31 abstentions. The Chamber of Deputies then converted the project into law. Law 27.401 holds companies criminally liable for corruption offenses, thus complying with the international community in the fight against corruption.

From now on, legal persons involved in the commission of bribery offenses, influence peddling, negotiations incompatible with the public function, illegal exactions, illicit enrichment, and falsification of balance sheets may be punished for such crimes when “they have been made, directly or indirectly, with their intervention or on their behalf, interest, or benefit” or if the person acting for the benefit was a third party but the company had ratified the management.