Compliance in Argentina

Beccar Varela

Beccar Varela finds favour for its ‘coordinated team’ that is ‘aligned with client needs’. Widely regarded as a first-mover in the compliance space, the firm houses a full-service white-collar and corporate crime practice, which sits alongside its specialist compliance and investigations team. The broad group advises on a range of anti-corruption regulations, compliance programmes and internal investigations, with supplementary strength in criminal liability matters. Anti-corruption and compliance head Maximiliano D’Auro is a ‘stand-out lawyer’ and is noted for his emphasis on banking and finance-related issues. Other recommended names include experienced senior associate Dorothea Garff, who focuses on general corporate advice and compliance, and up-and-coming senior associate Gustavo Papeschi.

Practice head(s):

Maximiliano D’Auro

Testimonials

The firm’s strong point is that the team is coordinated and aligned with our needs.’

Professionals are very empathetic and are able to make themselves understood to clients who are not specialists in the technical aspects of local legislation.

The stand-out lawyer is Maximiliano D’Auro.

Key clients

Nu Pagamentos (NuBank)

Work highlights

  • Advised the local subsidiary of NuBank on the adoption of an anti-money laundering prevention system, compatible with the risk-based approach required by new regulations.

Bruchou, Fernández Madero & Lombardi

According to some, Bruchou, Fernández Madero & Lombardi has ‘the best compliance team in the market’, with sources hailing its ‘technical knowledge’, ‘extensive experience’ and ‘capacity for analysis’. The group is a strong performer in all key areas, with specialist skill sets in compliance, internal investigations and business crime. Indeed, the criminal element to its practice is particularly pronounced due to the incorporation of two-partner compliance boutique Governance Latam in 2019, which specialised in anti-corruption matters. Guillermo Jorge, former founding partner of Governance Latam, is widely recognised as a ‘prestigious expert in compliance’ and heads the team. Fernando Basch is also recommended for his ‘extensive experience’.

Practice head(s):

Guillermo Jorge

Testimonials

They have the best compliance team in the market. Their strong points are their knowledge of criminal law, their involvement in the drafting of compliance regulations and their extensive experience, both national and international.’

Bruchou’s compliance team stands out for its excellence, its technical knowledge of the subject and its capacity for analysis. It is able to react very quickly and can be flexible when faced with the changing situation in Argentina.’

Strong analytical skills, strong knowledge of the local market and strong expertise within anti-corruption and compliance.’

The compliance team stands out for its competence. It demonstrates a personal touch and professional excellence.

The team has wide-ranging experience and the right structure to carry out complex compliance investigations and due diligence.’

The mindset of the lawyers in the Bruchou team stands out, as well as the quality of service, their technical knowledge, and their availability and response times — Bruchou is at the same level as world-class firms.’

The team has the necessary experience to get to the bottom of the problem; they know what their clients really need, and as a result they can build a better relationship with them.

They have deep knowledge of best practice in this area and are very effective in the implementation of ethics programmes.’

Guillermo Jorge is the best compliance lawyer in Argentina, with experience in the public and private sector, as well as academic experience. Fernando Basch also has extensive experience.’

Guillermo Jorge is a prestigious expert in compliance. He is recognised at an international level. He is very clear in his explanations and has excellent communication skills. He gets deeply involved in matters and puts his own stamp on them.

Fernando Basch and Guillermo Jorge are valued experts for our work in Argentina on compliance and integrity. They have been service-minded, understood the challenges well, provided practical advice for business and how to improve the operating environment for local and international players.’

Fernando Basch is another stand-out professional in this area. He gets to the bottom of matters and is always available to give advice.’

The stand-out lawyers are Manú Hersch García and Fernando Basch from the compliance department.

Key clients

Equinor

Unipar Carbocloro

Maritime Anti-Corruption Network (MACN)

Insigneo Financial Group

Fundamenta Capital

National Shipping

Camin Cargo Control

Gruppe Heinlein

Brubank

Government of the City of Buenos Aires

Work highlights

  • Advised Equinor on compliance matters.
  • Assisted Unipar Carbocloro with its compliance risk assessment process and on the design of compliance policies applicable to Argentina.
  • Advised the Maritime Anti-Corruption Network on the collective action initiative to reduce bribery in the grain-export clearance process in Argentine ports.
  • Advised Fundamenta Capital on money laundering and terrorist financing risks.

Marval O’Farrell Mairal

The sizeable team at Marval O’Farrell Mairal attracts rave reviews for its ‘talented lawyers’, ‘deep subject matter expertise’ and ‘deep knowledge of global best practices’. The broad group covers all the bases, with strong offerings in compliance, anti-corruption and investigations. The firm is a popular choice for both local and cross-border issues, with sources commending the team as ‘great at advising foreign clients doing business in Argentina’ — it also advises local companies on international compliance regulations. Department head Pedro Serrano Espelta focuses exclusively on compliance and is a ‘pioneer in his field’. Gustavo Morales Oliver, who is ‘extremely analytical and articulate’, is also fully dedicated to the area.

Practice head(s):

Pedro Serrano Espelta

Testimonials

Leading lawyers with extensive experience in Argentina and deep knowledge of global best practices.’

Great at advising foreign clients doing business in Argentina.

Marval has a market-leading practice with talented lawyers and deep subject matter expertise.’

In addition to working together on important client engagements, I’m very impressed by the firm’s annual anti-corruption forum each September. It’s a great example of prominence and market leadership.

The compliance team which advises us is splendid. Their knowledge is comprehensive and their response times are ideal for a business like ours. They are far better than the teams at other firms.

The advantage of the team is its thoroughness. Their documents and opinions are the most thorough and are provided the quickest.

A good team with a very broad experience. Pleasant to work with.’

Pedro Serrano Espelta and Gustavo Morales Oliver are both truly impressive lawyers and unquestionably leaders in the marketplace. Pedro leverages deep experience to think strategically and offer constructive advice. Gustavo is extremely analytical and articulate, and I appreciate his thoughtfulness. Both are excellent lawyers and colleagues.

Pedro Serrano Espelta is a pioneer in this field, particularly in M&A transactions and regulated industries. Gustavo Morales Oliver is a young and very promising partner, with flawless technical knowledge.’

Pedro Serrano Espelta has wide experience of corporate matters and international transactions, which is very useful in white-collar matters involving non-Argentine clients. He is probably quite rare in Buenos Aires to be able to provide this.’

Key clients

Skanska

Newmont

Zimmer-Biomet

American Tower Corporation

YPF

Pfizer

Nike

Diageo

Globant

Loma Negra

Work highlights

  • Represented Skanska in legal proceedings related to allegations of corruption in the construction of gas pipelines.
  • Advised Kodak on anti-corruption risk analysis.
  • Advised Globant on the implementation of its global compliance and integrity programme, including on the development of a global coordination strategy.
  • Assisted American Tower with anti-corruption compliance matters.

Allende & Brea

Allende & Brea houses a specialist compliance and internal investigations practice, which is commended for its ‘solid financial-services technical expertise’. Alongside its robust finance sector offering, the group is also well versed in issues relating to other regulated industries, particularly the healthcare, energy and natural resources, and food and beverage sectors. The team advises on the full gamut of compliance, investigations and contentious matters, with department head David Gurfinkel recommended for his strong expertise in anti-corruption matters. Administrative law partner María Morena del Río is also a key contact.

Practice head(s):

David Gurfinkel

Testimonials

The firm has solid financial-services technical expertise along with a sophisticated investigations practice. As a result, they understand the technical nature of the issues under investigation.

We recommend David Gurfinkel for his anti-corruption and investigations expertise and Jorge Mayora for his financial-services and investigations expertise.

Key clients

Apergy Corporation

Asociación Argentina de PVC

Banco Industrial

Ente Nacional de Alto Rendimiento Deportivo

FMC Corporation

Galaxy Resources

Logicalis Group

Oben Group

Singapore Technologies Engineering

Wells Fargo

Work highlights

  • Conducted compliance-related training sessions for Apergy Corporation.  
  • Advised Asociación Argentina de PVC (the Argentine PVC Chamber) on the design and implementation of anti-corruption and antitrust-related policies
  • Acted for Ente Nacional de Alto Rendimiento Deportivo (the National High Performance Sports Agency) on the design and implementation of an integrity programme.

Baker McKenzie

Practical and business-focused’, Baker McKenzie is valued for its ‘excellent client service’. A recognised leader globally for anti-corruption issues, the Buenos Aires’ arm of the international firm fields a comprehensive corporate and investigations practice, which is supported by a complementary white-collar crime offering. María Vanina Caniza leads the corporate-compliance side and routinely advises local and foreign companies on investigations and training programmes. Fernando Goldaracena spearheads the corporate-crime practice and brings to bear significant criminal law expertise, following his former role as secretary of a federal criminal court.

Testimonials

Its practical, business-oriented focus is what makes this team unique and distinguishes it from other firms.’

The lawyers at Baker McKenzie stand out for their excellent client service, which is personalised and adapted to the needs of each business. They are always available and business-oriented. Their professional preparation and personal touch deserves to be singled out.’

Maria Vanina Caniza and Fernando Goldaracena particularly stand out in the area of compliance.’

Key clients

Advent

Bausch & Lomb

Franklin Electric

Prysmian Group Argentina

Accenture

Mediapro

Alicorp

Procter & Gamble

Biogen

Gilead Sciences Inc.

Work highlights

  • Assisted Bausch & Lomb with the review of its compliance programme in accordance with applicable anti-corruption legislation.
  • Advised Franklin Electric on various internal policies, including several anti-corruption policies.
  • Advised Accenture on anti-corruption red flags and best practices in M&A processes.

Mitrani Caballero & Ruiz Moreno Abogados

The ‘versatile’ team at Mitrani Caballero & Ruiz Moreno Abogados ‘adapts itself to the client’s needs’. The ‘highly qualified’ group advises on all key areas of regulatory focus, including money laundering and anti-corruption. Notably, its close relationships with multinational clients ensure it is also well versed in all the main global anti-corruption regimes, such as the FCPA and the UK Bribery Act. M&A specialist Cristian Mitrani co-heads the team alongside transactional partner Mariela Inés Melhem. Newly made-up partner and anti-corruption expert María Paula Díaz ‘stands out for her knowledge and public speaking skills’.

Testimonials

They show great willingness and friendliness, and have the ability to carry out analysis and give high-quality responses.’

In my experience they are better than other firms. They have technical knowledge, analyse the risks, and provide high-quality analysis and opinions.

The relationship between the fees and the time spent on the matter is appropriate for this type of work. The team is versatile and adapts itself at all times to the client’s needs.’

The standout members of the compliance team are Cristian Mitrani, Mariela Melhem and María Paula Díaz. In my view, they are leaders in compliance matters, with great expertise in the subject.’

The team is very highly qualified and the quality of the professionals is excellent, we recommend Cristian Mitrani and María Paula Díaz.’

María Paula Díaz stands out for her knowledge and public speaking skills. Mariela Melhem stands out for her knowledge and competence.

Key clients

Tenaris

Ternium

Exiros

Fate

INFA

Tecpetrol

AGCO Argentina

KIA Argentina

Echo Energy

Aluar Aluminio Argentino

Hidroeléctrica Futaleufú

Work highlights

  • Advised Tenaris, and its affiliates worldwide, on the design and implementation of its anti-corruption programme.
  • Acted for Exiros on the design and implementation its anti-corruption compliance programme.
  • Advised Argentine tyre manufacturer, Fate, on its anti-corruption compliance programme.

Cerolini & Ferrari Abogados

Cerolini & Ferrari Abogados specialises in compliance issues affecting the financial services sector, with expertise in Argentine capital markets regulations and anti-money laundering matters. The team punches above its weight in this area, with multinational names such as American Express, Bank of America and Merrill Lynch all representative clients. Group head Agustín Cerolini is noted for his ‘strong background in financial matters’.

Practice head(s):

Agustín Cerolini

Testimonials

Our business is in the financial sector, so as well as its legal knowledge we really value the team’s background in financial matters.’

The team compares very favourably with the best firms in Argentina.

They handle financial matters well and have a deep knowledge of market tools and operations. They are always available and respond rapidly.

Cerolini & Ferrari offers an excellent service in compliance matters.’

Agustín Cerolini has a strong background in financial matters, which means he can communicate with us easily and deal with very specific issues in the market.’

Agustín Cerolini and Matias Ferrari are professionals with solid knowledge and are always available to the client.’

Key clients

American Express Argentina

Alynk

Credil

Bank of America

Merrill Lynch Argentina

Banco del Chubut

Banco CMF

Metrocorp Valores

Proficio Investment

InvertirOnline

Iké Asistencia Argentina

Banco de la Ciudad de Buenos Aires

Transcon

Work highlights

  • Advised American Express Argentina on compliance matters related to Central Bank regulations.
  • Advised Alynk on compliance with Argentine capital market and anti-money laundering regulations

Martínez de Hoz & Rueda

Martínez de Hoz & Rueda’s compliance team leverages its signature energy and project finance practices to shine in the infrastructure and banking areas. The group is particularly active in designing compliance programmes and advising on anti-money laundering and data protection regulations. It also has experience in representing clients in regulatory and criminal proceedings. Martín Lepiane is the name to note.

Key clients

Western Union

Accor Hotels

IMPSA

PrexCard

Chevron

Nuestra Señora de la Asunción

Total

Work highlights

  • Advised Western Union Financial Services on anti-money laundering compliance.
  • Advised PrexCard on different regulatory frameworks applicable to credit cards, payment solutions and e-wallets, including data protection and anti-money laundering rules.

MBP Partners - Abogados

MBP Partners - Abogados impresses with its ability to understand the client’s business, which equips it to ‘map out the risks correctly’. The group covers a mix of anti-corruption, compliance and anti-money laundering matters, with experience in tax, corporate, capital markets and data privacy-related issues in particular. Ignacio Meggiolaro brings to bear significant in-house expertise, earned during his roles as legal and compliance manager at Pampa Energía, and legal and compliance director of Puente Group.

Testimonials

They provide personalised attention and are efficient and professional.

They get to know the peculiarities of the company they are advising, which allows them to grasp the key points of the problem, so that they can map out the risks correctly and efficiently.

Key clients

Danone Argentina

Tel3

CN Sapag

Ausur

BTG Pactual Group

Mota-Egil Group

Cono Sur Inversiones

Central Puerto

Almundo.com

Work highlights

  • Acted for Danone Argentina on risk mapping all of its business units, as well as on adapting the group’s global compliance programme to Argentine companies.
  • Advised Ausur, a local PPP contractor, on risk assessment and the design of its compliance programme.

Pérez Alati, Grondona, Benites & Arntsen

Pérez Alati, Grondona, Benites & Arntsen’s corporate governance and compliance department attracts praise for its ‘hands-on approach’. The team has an emphasis on preparing integrity policies and developing training programmes around anti-corruption and corporate governance rules. It also has growing weight in privacy matters. María Gabriela Grigioni is focused on banking, capital markets and compliance matters and co-heads the team alongside Arnaldo Cisilino, who specialises in litigation and data protection.

Testimonials

The firm has been working with us for 15 years and they have supported our operation with a high level of excellence in different matters, working always as a team.

The firm is very good at explaining local law constraints to foreign clients. The lawyers are pragmatic and take a hands-on approach.’

Key clients

CMR Falabella

CMR Productora de Seguros

The Bank of New York Mellon

Phoenix Global Resources

Harvard Management Company

Nufarm & Nuseed

Patagonia

MSD Argentina

Work highlights

  • Acted for CMR Falabella on compliance issues, including on the preparation of a risk-assessment report.
  • Advised Phoenix Global Resources on the Argentine Criminal Liability Law, including adapting its integrity programme to local regulations.