The board of Brazil-based petrochemical company Braskem announced that it has approved a 410 million reais (U.S. $101 million) leniency agreement with authorities for concealing its role in a bribery scheme involving state-owned oil company Petrobras.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...