“It will be a transformative forum, which will allow us to delve deeper into ethical dilemmas and the role of boards of directors from a practical perspective in light of the new regulations that will set the tone for 2025 in the region,” says Rodrigo Albagli , partner at Albagli Zaliasnik (AZ).

Carla Arellano , advisor at Ferrere Abogados, believes that the initiative arises as a consequence of the maturity and growth of Compliance Latam.

“It is a platform dedicated to promoting and disseminating the best corporate practices, organizational culture and regulation around the Compliance ecosystem. It is made up of leading firms from the region and the United States, as well as dozens of collaborators who have joined, recognizing the great potential it has. We have held several virtual events and have disseminated dozens of articles and guides on best practices in regulatory compliance on various topics, such as health, money laundering, personal data protection, corruption, antitrust and Fintech,” says Arellano.

This year, the Uruguayan firm proposed moving from virtual to in-person sessions so that different industry leaders and experts in the practice area have a common space to share their experiences and good practices.

“We proposed holding this first international forum in our Montevideo offices and the platform’s firms immediately agreed to this proposal. Regional experts will speak about the latest trends and challenges in Compliance at a regional level; and the meeting will offer an excellent opportunity to establish a wide network of contacts, connecting with professionals from law firms and the public and private sectors from all over the region. Our main objective is to contribute to strengthening a culture of ethical compliance in companies in the region,” says Carla Arellano.

Oscar Tutasaura , partner at Posse Herrera Ruiz, highlights that the Compliance Latam Forum 2024 seeks to promote an environment of mutual learning, so that attendees can benefit from the experiences and approaches of their international colleagues.

“The knowledge acquired and the relationships established during the event will contribute to strengthening the culture of ethical compliance in companies in the region. For this reason, the forum will also allow us to generate professional relationships that can be enriching and collaborative for participants in the future,” predicts the Compliance expert.

Challenges for 2024 and opportunities for 2025

For Jeffrey A. Lehtman , partner at Miller & Chevalier, the three most relevant challenges for companies in the region this year have been: the political uncertainty generated by changes in priorities in the governments in power, compliance with laws in a complex regulatory context, and the management of resources destined to strengthen companies’ compliance programs, especially to integrate new technologies into internal control processes.

“In the United States, regulators have focused particularly on the region. In fact, through updates to their enforcement policies, they have pushed companies to strengthen their compliance programs to reduce the risk of non-compliance with the various applicable laws, such as anti-corruption, money laundering and economic sanctions laws. The guidelines of the last two years have focused on strengthening compliance programs through greater control over company data and information, including employee communications through instant messaging platforms; the need for a more robust incentive system, which rewards employees who comply with the laws and punishes those who do not; and the use of technologies and data analysis integrated into the various internal controls, such as the management of third parties and payments,” Lehtman summarizes.

By 2025, one of the central themes will be China’s growing influence in the region and the impact of US President-elect Donald Trump’s decisions.

“With the recent change of government in the United States and in some Latin American countries, it is still early to know what the priorities of these governments will be in terms of the level of attention they will pay to the application of anti-corruption laws and the impact this will have on the region. What could be expected, considering the global context and the position that the Trump government seems to take, is greater attention to the application of economic sanctions and import and export laws, including a special focus on cybersecurity. If this is the case, companies will have to focus on strengthening their compliance programs in terms of the security of their technological structures, data management and third parties,” analyzes the Miller & Chevalier partner.