STOCCHE FORBES RADAR’s issue of July 2019 -presents a brief analysis of recent developments in Brazilian competition law and policy during 2019’s first semester and early July.
Until now, the Brazilian antitrust authority, CADE (Administrative Council for Economic Defense) reviewed 213 transactions and completed 18 antitrust investigations – out of which 8 ended in convictions for antitrust violations with fines totaling USD 201 million . Moreover, the antitrust authority executed 8 Cease and Desist Agreements (known as TCCs), totaling USD 13 million in pecuniary contributions.
Furthermore, as will be seen below, the Organization for Economic Co-operation and Development (OECD) has recently admitted Brazil as an associate member at its Competition Committee, highlighting the alignment of the country’s antitrust policy with international best practices.
For the next half year, CADE’s General Superintendence (SG) and its Tribunal are expected to have a new composition. Indeed, the current General Superintendent’s 2-year term will end in October; his mandate can be renewed or a new name may be nominated by Brazil’s President. In addition, four out of seven chairs at CADE’s Tribunal will be empty in the coming weeks, and two names appointed by Brazil’s President. are already pending before the Senate for approval.
The main highlights from the first half of 2019 will be presented below.
- On this special issue, we will approach the following topics:
- Brazil is admitted as a member of the OECD’s Competition Committee;
- Brazil’s President appoints two names for CADE’s Tribunal;
- General Law of Regulatory Agencies is enacted with some provisions relating to CADE;
- Petrobras agrees to sell refinery plants and gas pipelines;
- Four complex transactions were reviewed and approved under conditions by CADE;
- Three investigations against Google were dismissed by CADE;
- CADE imposes a BRL 535 million fine on 11 companies for alleged bid rigging in the provision of subway rolling stock, equipment and maintenance services; e
- CADE’s Tribunal approves an amendment to the authority’s By-laws.