Brazilian Antitrust: An overview of the antitrust regulation and enforcement

Introduction 1. Legislation and Scope. On 29 May 2012, Law No. 12,529/11 came into force (the “Brazilian Competition Law' or 'BCL') and brought significant changes to the existing antitrust regulations, in particular with respect to the structure of the Brazilian competition authorities and the rules for merger notification, as will be detailed in this article. The BCL prohibits acts or conducts that may distort or in anyway limit competition and is applicable to all individuals and entities that carry out business activities in Brazil or that can produce effects - even if potential - in the country. These conducts may involve restrictions directed either to players who are active in the same relevant market of the offender(s) (horizontal restrictions) or to players active in markets