Brazil is poised to enact a new anti-corruption law that will impose liability on corporations for the first time.
Proposed three years ago, the legislation passed the Brazilian Chamber of Deputies in April and the Brazilian Senate last week. Massive street protests in Brazil against corruption and poor public services last month helped to move it along. It has now been sent to President Dilma Rousseff for her expected signature.
The law would make companies liable in civil courts for the criminal acts of their directors, officers, employees and agents. Corporate fines could be as steep as 20 percent of an organization’s gross revenues from the previous year. Significantly, it would apply to foreign companies as well. Previously only individuals were subject to prosecution for corruption. (Read more)
