COMPLIANCE
Brazilian companies have no shield from the US war on gangs
The Office of Foreign Assets Control is headquartered in the Freedman's Bank Building, in Washington. Photo: APK/Commons
Since June 5, when the US designation of São Paulo's First Capital Command (PCC) and Rio de Janeiro's Red Command (CV) as foreign terrorist organizations kicked in, boards have been asking me how to shield their companies. They can't. No contract or corporate structure protects a company from sanctions a foreign government imposes on its counterparties, suppliers, or shareholders. The dangerous mistake is…
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