José Antonio Chávez
Managing Partner
Chávez Vargas Minutti Abogados
/
Insight

From Finance to Providing Anti-Corruption Guidance

Mon, 04/01/2019 - 10:53

 The main factor inhibiting the development of businesses in Mexico is corruption, says José Antonio Chávez, Managing Partner at Chávez Vargas Minutti Abogados. “Businesspeople are afraid of being forced to commit acts of corruption or being involved in corruption schemes. This is discouraging the development of more businesses.”


Chávez Vargas Minutti, a boutique Mexican law firm founded in 2010 and specialized in corporate finance, has been working to innovate legal services. The firm is starting to offer anti-corruption solutions through its subsidiary, CHM Compliance. The recent approval of the National Anti-corruption System and the new government's goal of stamping out corruption make Chávez Vargas Minutti’s offer all the more relevant for all businesses with operations in Mexico, Chavez says. “The National Anti-corruption System establishes, through seven pillars, clear practices for the private and public sectors that target the elimination of corruption.”


The problem, he adds, is that the new law remains vague in certain areas and leaves it to the authorities to decide whether businesses are complying or not. Chávez says the public is used to corruption scandals surrounding public entities but the private sector is no stranger to these practices. “CHM Compliance helps companies to develop codes of conduct and to enforce them,” he says. The code itself is not enough, however. Companies must find a way for these values to reach all their collaborators.