Brazil’s Clean Companies Act plugs a major hole in its corporate anti-bribery arsenal but how regulators apply the complex legislation will prove an important test of its effectiveness, a top global anti-corruption official said on Friday. Nicola Bonucci, director of legal affairs at the Organisation of Economic Cooperation and Development (OECD), said Brazil’s new law passed in August to hold companies liable for bribery and corruption of public officials or in bidding for public contracts, is an important step toward bringing Latin America’s largest economy into line with international standards. Until now, only individuals could be prosecuted for corporate bribery in Brazil. President Dilma Rousseff successfully championed the new legislation, which had been stalled for years in Congress and vigorously opposed by businesses, after citizens rioted in July over rising prices, poor public services and public corruption. Brazil is a signatory of the OECD’s Anti-Bribery
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