INTERNATIONAL : BRAZILIAN COMPETITION LAW - DETECTION - AGREEMENTS - PUBLICITY - MERGER CONTROL - FINES - TRANSACTION - LENIENCY

Brazilian competition law : Fifteen years of developments

Brazilian Competition Law is now fifteen years old and benefits of substantial developments in its enforcement as well as in the competition culture in Brazil. The authorities have been working to enhance the enforcement and expedite the proceedings. The legislation provides for several investigative tools, such as dawn raids and leniency agreements. The risk of detection has been increased and the fines applied to fight against the violations are higher each year. Besides, the publicity of the activities of the authorities has contributed to spread the enforcement to all regions of the national territory. On the merger control side, Brazil is developing and consolidating the concepts already applied in other jurisdictions and has shown that it will block a transaction in case it may harm the free competition in Brazil.

I. Introduction 1. Brazil had a very protected and regulated national market, including with price control by public authorities. Besides, before the international agreements to the open market, Brazil had a lot of limitation to foreign companies to do business in Brazil. The first legal framework for competition issues was enacted in 1962, [1] however due to our such regulated market structure and public policies, it has only started to effectively apply a competition law since 1994. The current Brazilian Competition Law [2] is the main statute governing competition issues in Brazil. Such law is fifteen years old and there are several developments and remarks that may be of interest. [3] 2. The Brazilian Competition Law is a specific law to regulate the defense of free competition

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Auteur

  • Inglez, Werneck, Ramos, Cury e Françolin Advogados (Sao Paulo)

Citation

Ricardo Inglez de Souza, Brazilian competition law : Fifteen years of developments, février 2010, Concurrences N° 1-2010, Art. N° 30050, pp. 210-217

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