Brazil

Lawyer Monique Guzzo brings extensive experience in regulatory projects, working closely with government bodies and regulatory agencies Lawyer Monique Guzzo joins KLA’s partnership this January, reinforcing the firm’s capabilities in the Life Sciences practice. With over 16 years of experience and a background in leading law firms, Monique has built her career advising companies in highly regulated sectors such as Life Sciences and Healthcare, as well as Agribusiness, Fixed-Odds Betting, and Education. Her work is characterized by a strategic approach to complex projects and transactions, with a strong focus on regulatory advisory, negotiation of industry-specific contracts, and handling administrative proceedings before regulatory agencies and government bodies. In the Life Sciences sector, her practice includes assisting companies subject to health regulations in matters involving ANVISA (Brazilian Health Regulatory Agency), ANS (National Supplementary Health Agency), local Health Surveillance authorities, as well as the National Health Council (CNS), the Drug Market Regulation Chamber (CMED), and professional councils, among other entities. Monique holds a postgraduate degree in Administrative Law from Fundação Getúlio Vargas (FGV) and is recognized by legal rankings and awards such as Women in Business Law, Legal 500, Leaders League, and Análise Advocacia. According to KLA’s Executive Committee, her arrival reinforces the firm’s commitment to attracting leaders with business vision and technical excellence. “Monique’s addition brings depth and specialization to our Life Sciences practice, an industry where the firm has a strong presence,” says founding partner Henrique Lopes, a member of the Executive Committee.

Ana Carolina Cesar, who joined KLA in 2019, coordinates KLAI, KLA’s artificial intelligence hub, as well as the Data Protection and Intellectual Property areas; she is recognized by rankings such as Legal500. Starting in January 2026, lawyer Ana Carolina Cesar will join KLA’s partnership. Leading the Data Protection, Intellectual Property, and KLAI (KLA’s AI hub) areas, Ana Carolina spearheads complex projects involving Artificial Intelligence, Technology Transactions, and Data Governance. Her expertise spans regulated and dynamic sectors, advising players in the Bets, Gaming, Media, and Entertainment markets, with strong involvement in the Creator Economy (influencers and digital advertising). Recognized by international legal rankings such as Legal 500, Leaders League, Latin Lawyer, and Brazil’s Análise Advocacia, the new partner combines business vision with technical rigor. She is a member of the International Association of Privacy Professionals (IAPP), a recognized specialist by OneTrust DataGuidance, and earned distinction in the Artificial Intelligence Policy program at the Center for AI and Digital Policy (CAIDP). Ana Carolina holds a Professional Master’s in Law and Management from Universidade Católica Portuguesa and an MBA in IT Management from FIAP. Her promotion reflects KLA’s commitment to investing in leadership that combines technical excellence and innovation, maintaining a focus on real impact for clients and long-term relationships.

The corporate and mergers and acquisitions team at Finocchio & Ustra Advogados advised Gran Capital Partners — a Brazilian private equity firm that partners with entrepreneurs by combining capital and management support to scale high-potential businesses — on a strategic investment transaction in STK Comércio de Alimentos S.A. (Aurok), a chain of high-quality meat boutiques with stores in Campinas and Indaiatuba and a vertically integrated operation with its own high-technology processing facility. This is the firm’s third recent investment, following Sterna Café and La Guapa. The transaction reinforces the ongoing professionalization of the specialized protein retail and gourmet grocery segments, with positive impacts on quality standardization, the shopping experience, and the expansion of the product portfolio for consumers. As a result, Aurok will be able to accelerate its growth and implement its expansion, with gains in operational efficiency and enhanced professionalization, thereby contributing to the consolidation of the segment in São Paulo. The transaction was led by partner Andrea Tincani, with the participation of Camila de Godoy Ferreira, Júlia Cristina Arruda Savioli, Carolina Zogaeb, and Enrico Abrahão Oliveira, all from Finocchio & Ustra Advogados.

Brazil creates special tax unit to combat money laundering, targeting fuel distributors and fintechs. Brazil has announced the creation of a specialized unit within the Federal Revenue Service (Receita Federal) to intensify efforts against financial crime[1]. The move followed the “Spare” and “Carbono Oculto” operations, which uncovered billions of reais in illicit transactions. These operations revealed how sectors such as fuel distribution and fintechs were used as platforms to channel or disguise suspicious financial flows, highlighting the growing complexity of organized crime schemes. A New Investigative Role for Receita Federal Traditionally, the Receita Federal acted primarily as a tax authority, identifying irregularities in payments and auditing fiscal integrity. With the establishment of this new unit, the agency steps into a broader role, working side by side with police and prosecutors in detecting, analyzing, and disrupting money laundering operations. This represents a structural change in Brazil’s enforcement landscape, aligning with international trends that emphasize “following the money” to combat organized crime. Anti-Money Laundering Challenges and Sector Exposure The findings of the recent operations make clear that certain industries are more vulnerable to infiltration by illicit networks. Fuel distribution, with its high-volume and cash-intensive operations, and fintechs, with their agility and technological models, are particularly exposed. For businesses in these sectors, the announcement should be read as a signal of intensified monitoring and heightened expectations regarding anti-money laundering controls and transaction monitoring systems. The new framework also signals broader international implications. Many of the sectors under scrutiny operate through import and export chains or rely on cross-border financial systems. As Brazil intensifies cooperation with foreign tax and enforcement authorities, companies abroad connected to Brazilian operations may face greater scrutiny and information sharing between jurisdictions. Concerns Over Fiscal Confidentiality At the same time, the new role of Receita Federal raises important concerns. Companies and their shareholders rely on the constitutional guarantee of fiscal secrecy, which protects sensitive financial data from undue exposure. The growing involvement of the tax authority in criminal investigations creates the risk that legitimate business information could be subject to excessive scrutiny or even misused. It is essential to emphasize that combating money laundering cannot justify unrestricted access to confidential data. The effectiveness of enforcement must not come at the cost of transforming financial intelligence into a fishing expedition that compromises corporate privacy and undermines due process. Looking Ahead The creation of this unit is a turning point in Brazil’s strategy against financial crime. For companies, especially in sectors already flagged by recent operations, the challenge is twofold: to strengthen criminal anti-money laundering frameworks while also safeguarding their rights against investigative overreach. Success in this environment will require balance—robust transparency and control mechanisms, paired with vigilance to ensure that the fight against illicit activity does not erode the legal protections of legitimate businesses.   Bruno Henrique dos Santos Henrique Zigart Pereira Guilherme Cremonesi   [1] https://www.cnnbrasil.com.br/economia/macroeconomia/fazenda-cria-delegacia-na-receita-para-combater-crime-organizado/#goog_rewarded. Access on 10/03/2025.