The Brazilian Competition Authority grants preliminary injunction against a leading banking group who engaged into exclusive dealing (Bank of Brazil / Interstate Federation of the Public Workers)

The Brazilian Competition Authority – Conselho Administrativo de Defesa Econômica(hereinafter CADE) – has granted a preliminary injunction on an administrative procedure initiated ex officioby CADE itself, following a complaint against Banco do Brasil presented by the Interstate Federation of the Public Workers of the states of Acre, Alagoas, Amapá, Amazonas, Bahia, Maranhão, Minas Gerais, Paraná, Piauí, Roraima, Sergipe and Tocantins (FESEMPRE), ordering the former to cease requiring exclusivity on its credit agreements with municipal and state workers, alluding to a potential finding of abuse of dominance. Albeit interesting substantive issues were discussed – more on those later – the discussion regarding CADE‘s jurisdiction over financial institutions’ behaviour in the market was all