Rigzone recently featured comments from a Gardere alert, authored by Attorneys Roberto Arena Reyes Retana, Daniel Aranda Rabago, Marco Antonio Nájera Martínez and Alejandro Ortiz Palacios, in regard to Mexico’s new anti-corruption law and its effects on the oil and gas industry. According to the alert, the Mexican General Law on Administrative Responsibilities (GLAW), which went into effect on July 18, 2016, sets forth new prohibitions on wrongful administrative conduct and sanctions applicable to private entities doing business in Mexico.
As a follow up to the alert, Rigzone spoke with Mr. Palacios to gain additional insight on the impact GLAW has on oil and gas companies operating in Mexico.
“GLAW differs from previous rules in that it is applicable for all Mexican territory and is mandatory for federal, state and local levels of government. Unlike previous anti-corruption laws, GLAW establishes sanctions for individuals and entities,” Mr. Palacios told the publication. “…Oil and gas companies working in Mexico will need to ensure all necessary integrity policies are in place to meet the requirements of new anti-corruption laws recently passed by Mexico.”
The full article can be accessed here.