Rising Stars

Firms To Watch: Compliance

Estudio Bunge covers various aspects of compliance, including audits, internal investigations, due diligence, compliance-programme implementation and maintenance, and staff training. Carlos Nogueira and Adriana Senatore lead the team.
The Nicholson y Cano Abogados compliance department is best known for its expertise in internal investigations in the banking, real estate finance, tobacco and the mining industries. Experienced capital markets lawyer Emiliano Silva leads the team.
Salaberren & Lopez Sanson (SyLS) assists companies with the implementation of compliance procedures to help prevent and detect violations of laws and regulations. Blockchain, gaming, fintech and pharmaceuticals are key areas for the practice, which is co-lead by Juan Manuel Campos Alvarez and semi-senior associate, Julieta López Ayechu.
Zang, Bergel & Viñes Abogados provides general compliance and anti-corruption advice to clients in the real estate, construction, energy, agribusiness, technology and banking sectors. The firm also develops compliance programmes and leads local investigations, as well as co-leading FCPA investigations with US lawyers. Litigation and public law veteran Ignacio Sanz leads the team.

Compliance in Argentina

Baker McKenzie

Baker McKenzie provides domestic and international clients with a broad spread of compliance and white collar defence advice, covering prevention strategies, investigations, criminal litigation and transactional work. The team’s core practice focuses on internal investigations and criminal proceedings related to corruption, fraud, money laundering and other corporate crime, but it also handles risk assessments, compliance-programme and code-of-conduct design, and compliance training. The practice also benefits from the firm’s international network, which offers expertise on the impact of international regulations (including the US Foreign Corrupt Practices Act and UK Bribery Act) on Argentine clients. The impressive compliance and investigations lawyer Vanina Caniza, who also serves as Baker McKenzie’s Global Chair of Healthcare and Life Sciences, co-leads the practice alongside Fernando Goldaracena, who is the main contact for white-collar crime and investigations.

Practice head(s):

Maria Vanina Caniza; Fernando Goldaracena

Key clients

Bausch & Lomb



Novo Nordisk

Federal Express


Karl Storz Endoscopia Argentina

Work highlights

  • Assisted Bausch & Lomb with several compliance-related matters, including relationships with physicians and other healthcare provider and the screening of third parties.
  • Ongoing provision of periodic advice to Biogen regarding legislative trends, lawmakers’ agendas, and the enforcement environment; this work includes contract review, periodic discussions on best practices regarding commercial and marketing initiatives and senior management training.
  • Assisting WSA with the review of certain transactions with local healthcare professionals; the work focuses on the review of contractual relationships to assess compliance with local anticorruption laws.

Beccar Varela

As the first Argentine law firm to establish a white collar and corporate crime department, Beccar Varela is known for its expertise handling internal investigations and criminal proceedings,  including complex cross-border matters. The team also advises clients on anti-bribery and corruption, anti-money laundering and anti-terrorism financing, as well as the implementation of related compliance programmes, risk assessments and monitoring. Other areas covered include asset tracing and recovery, anonymous whistleblowing and business ethics. Compliance and anti-corruption expert Maximiliano Nicolás D’Auro co-leads the practice with white-collar crime veteran Manuel Beccar Varela. Partners Gustavo Papeschi (anti-corruption and compliance) and Francisco Zavalía (white collar and corporate crime, cybercrime and regulatory compliance) provide further senior-level expertise, with senior Dorothea Garff the key contact at associate level.

Practice head(s):

Maximiliano D’Auro; Manuel Beccar Varela

Key clients

Telefónica de Argentina

Samsung Electronics Argentina

Bet 365

OLX Autos

Simplot Argentina




Work highlights

  • Regular assistance to Telefonica Argentina on anti-corruption, AML and third-party vendor due diligence.
  • Carried out a series of investigations leading to the discovery that a large number of Samsung mobile phones had entered Argentina illegally and were being offered for sale in clandestine shops.
  • Advised OLX Autos on the overhaul of its AML internal programme to determine its grade of compliance with local regulation, as well as redesigning policies and procedures.

Bruchou & Funes de Rioja

Clients call on Bruchou & Funes de Rioja for support on the implementation of bespoke compliance programmes and legal and regulatory corporate risk mitigation strategies. The practice also has extensive expertise handling internal investigations and associated litigation, white-collar crime and compliance training. Veteran anti-corruption practitioner Guillermo Jorge, who is particularly well-regarded for his specialist asset recovery expertise, leads the practice with criminal law and anti-bribery partner Fernando Felipe Basch another key senior name. At associate level, specialist semi-senior Guido Valeriani is noted; former fellow semi-senior Manú Hersch García  moved in house at Mercado Libre in March 2023

Practice head(s):

Guillermo Jorge

Key clients

Vicentin’s international financial creditors steering Committee

Fraud against the estate of K family


Petrobras’ former independent board members

Barrick Gold Corporation


Independent Ship Agents

Maritime Anticorruption Network

RPB – Baggio


Work highlights

  • Advised members of the steering committee of international lenders to Vicentin on litigation proceedings aimed at improving their position as creditors in the restructuring process.
  • Conducted a transnational investigation and asset tracing strategy to help RPB–Baggio recover losses after suffering a fraud.
  • Conducted biotech startup developer GridX’s first-ever anti-corruption and anti-money laundering risk assessment, as well as advising on the implementation of its governance, risk and compliance programmes.

Allende & Brea

Allende & Brea is best known for its work with IT teams to collect and review digital data, and harnesses electronic device imaging and high-volume data collection techniques to produce evidence. The team handles a wide range of compliance matters related to forex regulations, antitrust, healthcare, environmental matters, IP and technology, and works extensively with banks, insurers and fintechs in particular.  Well known litigator David Gurfinkel, who covers disputes and anti-trust, co-leads the practice with regulatory and healthcare law expert Maria Morena Del Rio. Senior associate Franco Jofré leads the second line.

Practice head(s):

David Gurfinkel

Key clients

Bird & Bird




Syngenta Group

The Badger Technology Company

Thermo Fisher Scientific

Unipar Indupa

Wells Fargo

Work highlights

  • Assisted Unipar Indupa with a review of the company’s code of conduct and corporate anti-bribery, anti-corruption and anti-trust policies.
  • Provides The Badger Technology Company with on-going guidance on compliance with Central Bank regulatory requirements and other Argentine laws applicable to payment service providers and cryptocurrency exchanges.
  • Provides MetLife with on-going advice in relation to local anti-money laundering and terrorist financing regulatory requirements, as well as compliance with the Argentine foreign exchange regime.

Llodrá Estudio Jurídico

Boutique compliance firm Llodrá Estudio Jurídico advises clients in Argentina and across Latin America on local and cross-border compliance matters, including the design, implementation, monitoring and auditing of compliance programs. The construction, infrastructure, energy, TMT and life sciences industries are particularly active areas. The team also undertakes due diligence on third parties and acquisition targets in M&A processes, and is well-known for working closely with clients to construct bespoke compliance frameworks and staff training programmes. Firm founder Melina Llodra leads the practice and has extensive cross-border compliance expertise, advising on matters ranging from complex investigations and ESG to anti money-laundering and the implications of foreign legislation (including the FCPA and UK Bribery Act), for local regulations. A fast-growing cohort of associates, including Julieta D’Angelo, Florencia Romariz and Aldana Barrichi provides impressive support. María Sol Martinez left the firm in mid-2022.

Practice head(s):

Melina Llodrá

Key clients

Corporación Acciona Infraestructuras

Acciona Infraestructuras Chile

Acciona Construccion Peru

Acciona Energia

Mutual Federada Salud

Acciona Infraestructura Brazil

Work highlights

  • Advising Spain’s Corporacion Acciona Infraestructuras and its subsidiaries in Latin America on the design, implementation and third-party certification of local compliance programs under ISO standards and local regulation.
  • Advising Mutual Federada Salud on the design and implementation of its compliance management programme, including a detailed risk assessment  and drafting a code of ethics.
  • Advising Acciona Infraestructuras Agencia Chile on the design and implementation of a local compliance program and certification process in line with crime prevention legislation.

Marval O’Farrell Mairal

Marval O’Farrell Mairal houses a full service compliance practice capable of handling complex matters such as anti-corruption investigations and associated litigation. The group handles day-to-day compliance work, training and monitoring, and demonstrates a strong track record of working together with foreign lawyers, forensic IT experts, forensic accountants and PR consultants on sensitive cross-border matters. However, the June 2023 departure of specialist senior associate Gonzalo Márquez Alonso, followed by the exit of compliance specialist practice head Gustavo Morales Oliver  to joing FTI Consulting some three months later, has left the group in a process of transition. Administrative law partner María Lorena Schiariti, who has long provided high-level senior support on compliance matters, is currently leading the team with key support from dedicated senior associate, María Agustina Testa (compliance, anti-corruption and investigations).

Practice head(s):

Gustavo Morales Oliver

Key clients


Amazon Web Services (AWS)

BNP Paribas




Newmont Corp







Lilac Solutions


Nishimura & Asahi

Atis Group

Work highlights

  • Advise Skanska on legal proceedings related to allegations of corruption in the construction of gas pipelines.
  • Advising various pharmaceuticals companies on a template agreement seeking to prevent compliance contingencies with third parties.
  • Advising Kodak on proposed transactions involving anti-corruption risk analysis.

Mitrani Caballero & Ruiz Moreno Abogados

Mitrani Caballero & Ruiz Moreno Abogados advises national and international companies on key areas of regulatory focus, including anti-corruption, money laundering and terrorist financing prevention, data protection, export controls and economic sanctions. The practice has unique experience working on negotiations with overseas authorities, including the US Department of Justice, and has developed distinctive knowledge of US, UK and EU regulatory regimes, in addition to its expertise in Argentine anti-corruption law. Investigations, self-disclosure, risk mitigation and investor litigation matters are all handled, with compliance programme implementation, training and due diligence work also undertaken. Firm founder and name partner Cristian Mitrani co-heads the practice alongside experienced compliance specialist Mariela Inés Melhem. Anti-corruption, compliance and privacy law expert María Paula Díaz provides additional partner-level experience.

Practice head(s):

Cristian Mitrani; Mariela Melhem

Key clients




Aluar Alumunio Argentino

Molinos Río de la Plata

Bunge Argentina

Yamaha Motor Argentina

Fratelli Branca Destilerías

CNH Industrial

Iveco Argentina




Hidrolectrica Futaleufu


Packall Argentina

Molfino Hermanos

Work highlights

  • Advise the Tenaris audit committee on the settlement agreement with the US Securities and Exchange Commission (SEC) in relation to a previously disclosed investigation of alleged FCPA and other anti-corruption law violations.
  • Advised a local car manufacturer on the adoption and implementation of anti-bribery and corruption policies and procedures, including regulatory regimes applicable in Argentina, Brazil, USA, UK and Italy
  • Advised a listed, multinational pharmaceutical company on several internal investigations involving its local subsidiary for potential breaches of the company’s code of conduct.


O'Farrell combines expertise from its corporate, public law and dispute resolution teams to provide clients in the energy, manufacturing, mining and food industries -among others- with a multi-disciplinary compliance offering. The team advises on the implementation and monitoring of compliance and anti-corruption programmes, as well as handling due diligence and internal investigations. Well-known litigation lawyer Jorge Muratorio co-leads the practice in conjunction with experienced public law practitioner Agustina Fanelli Evans. Energy sector expert Agustin Siboldi provides further partner-level input. Juan Pablo Fratantoni moved in house at Pan American Energy in November 2022.

Practice head(s):

Jorge Muratorio; Agustina Fanelli Evans

Key clients

Enaex Argentina


Ford Argentina

American Tower Argentina

Claro Argentina


Latinoamericana de Argentina

Pampa Energía



Work highlights

  • Advised Farmacity on the Argentine legal framework applicable to its activity as drugs and medicines retailer.
  • Advised American Tower Argentina on a range of telecommunications regulatory and compliance matters.
  • Advised GAES on global commercial distribution arrangements that are subject to legal frameworks restricting vertical integration.

Pérez Alati, Grondona, Benites & Arntsen

Clients call on Pérez Alati, Grondona, Benites & Arntsen for assistance with the preparation of compliance programmes and anti-corruption, anti-bribery, anti-fraud and anti-money laundering prevention procedures. The practice handles the full range of corporate governance, compliance, and corporate ethics matters, with the team particularly well-known for its focus on data protection law and privacy, as well as compliance training and due diligence. María Gabriela Grigioni, who has a strong banking and finance practice, heads the team alongside disputes, litigation and technology law expert Arnaldo Cisilino. Associate Natalia Sofia Guttner moved in house at Mercado Libre in July 2022.

Practice head(s):

María Gabriela Grigioni; Arnaldo Cisilino

Key clients

Harvard Management Company

Phoenix Global Resources

Johnson & Johnson


Techo Argentina

Honda Argentina

MSD Argentina

Merck & Co



Work highlights

  • Assisted Harvard Management Company and its local subsidiary with the design and development of its code of ethics and integrity programme.
  • Regularly advice to Phoenix Global Resources on compliance with anti-corruption regulations, criminal liability law and corporate governance issues.
  • Ongoing advice to Johnson & Johnson on the implications and liability of the company under anti-money laundering and anti-corruption regulations.


Bomchil supports clients on internal investigations, public procurement, antitrust, competition, personal data protection, anti-corruption, and anti-money laundering and anti-fraud policies; it is also called on to advise on compliance programme implementation, provide training and undertake audits. Arbitration and telecoms lawyer Francisco Gutiérrez heads up the team alongside compliance and corporate practitioner Florencia Pagani, who was raised to the partnership in December 2022.

Practice head(s):

Francisco Gutiérrez; Florencia Pagani

Key clients

Aeropuertos Argentina 2000

SAF Argentina

Buenos Aires Arena

Grupo Pestana Argentina

SPI Energy


CNP Assurances Compañía de Seguros

Work highlights

  • Advised Aeropuertos Argentina on a review and redesign of the company’s policies and codes.
  • Working with SAF, a part of French Group Lesaffre, on the local implementation of its global policies and code of conduct.
  • Supporting Buenos Aires Arena on implementation of the company’s code of conduct and global policies, as well as the implementation of  global anticorruption policies in Argentina.

Brons & Salas

The fast-growing Brons & Salas compliance practice provides advice on corporate criminal liability, anti-money laundering and terrorist financing regulations, as well as providing in-depth compliance reviews and day-to-day support on compliance matters. The team has also developed strong expertise in ESG and business ethics matters. Dynamic corporate lawyer Florencia Askenasy heads the practice.

Practice head(s):

Florencia Askenasy

Key clients

International Oncology Care

Grupo Peñaflor


Hyundai Argentina

Kimberly-Clark Argentina

S&P Global Ratings

Discovery Networks

Chubb Seguros Argentina

Avery Dennison de Argentina

Becton Dickinson Argentina

Trane Argentina

Fortescue Metals Group

Shandong Gold Mining

Atos Argentina

GroupM Argentina Trading

Laboratorio Cuenca

Toyota Compañía Financiera Argentina

Compañía Argentina de Levaduras


Work highlights

  • Assisted the Latam entities of International Oncology Care on the implementation of an integrity programme that includes a thorough analysis of anti-corruption laws in Argentina as well as FCPA rules.
  • Advise Atos Argentina on corporate criminal liability and compliance matters.
  • Assisting Compañía Argentina de Levaduras with the implementation of the anti-corruption and anti-bribery standards and compliance programmes of parent company Associated British Foods.

Cerolini & Ferrari Abogados

Cerolini & Ferrari Abogados has a strong banking and finance sector footprint, advising its portfolio of clients in the sector on anti-money laundering and compliance matters. The team will also step in as regulatory compliance officer for institutions under local capital markets law. The practice is lead by well-known banking and finance practitioner Agustín Cerolini.

Practice head(s):

Agustín Cerolini

Key clients



Electrolux Argentina

Xerox Argentina

Banco CMF

Metrcorp Valores


Proficio Investment

Openbank Argentina

Banco de Servicios y Transacciones

Crédito Directo


Merril Lynch Argentina

Fid Aval

Banco del Chubut

Banco de Servicios Financieros

Bank of America

Gato Global Games

Work highlights

  • Regularly advises Coppel on compliance matters related to Argentine fintech and consumer regulations.
  • Supported Banco de Servicios Financieros with a review and drafting of contractual documentation.
  • Advised the Argentine subsidiary of Openbank (the digital bank of Santander Group), on the prevention of money laundering and terrorist financing, as well as internal codes of conduct and data protection.

Martínez de Hoz & Rueda

Martínez de Hoz & Rueda leans on its extensive energy industry expertise to support clients on infrastructure and banking compliance matters. Experienced transactional and regulatory lawyer Martín Lepiane is the key compliance contact.

Practice head(s):

Martín Lepiane

MBP Partners - Abogados

MBP Partners - Abogados is best known for its financial sector-focused anti-money laundering practice, but also handles anti-corruption work and assists clients with the development of compliance programmes. The firm’s banking and finance head Ignacio Meggiolaro leads the practice, having accumulated extensive compliance expertise in previous in-house roles.

Practice head(s):

Ignacio Meggiolaro

Key clients

AdCap Grupo Financiero

MercadoLibre / MercadoPago


TPCG Group

BTG Pactual Group

Central Puerto


Cocos Capital


AWM Valores

Work highlights

  • Provide AdCap Grupo Financiero with day-to-day counsel on regulatory, compliance and AML matters.
  • Ongoing assistance to Mercado Libre regarding the regulatory risk and compliance area in relation to matters in Argentina, Brazil, Uruguay, México and Colombia, among other countries in the region.
  • Advised on the implementation and development of the global compliance program of Mota-Engil International in Argentina.