imagesThe Organization for Economic Cooperation and Development said Brazil must build on the positive momentum it started with a new corporate liability law, and issue an implementing decree necessary for enforcement.

The WSJ Risk & Compliance Blog reports that OECD’s anti-bribery working group “commends” Brazil for passing a new anti-bribery  law and  will follow-up on the country’s enforcement of foreign bribery cases.

The news was part of  a peer-review report analyzing Brazil’s compliance with the group’s anti-bribery convention.

“The announced implementing decree to the law must be issued as soon as possible before the law can be properly enforced,” the OECD said.

It comes days after Brazilian President Dilma Rousseff was re-elected amid allegations of corruption at state-run oil firm Petrobras Brasilero SA. Ms. Rousseff, during the heat of the campaign, admitted there was wrongdoing.

The OECD said in its report it was “encouraged” by Brazil’s first indictments of nine people in a foreign bribery case, but it “remains concerned” about the low level of enforcement overall, citing only five cases being investigated in the 14 years since Brazil first joined the OECD’s anti-bribery convention.

Samuel Rubenfeld reported for WSJ. Follow him on Twitter at @srubenfeld.