The New Competition Law in Brazil: Challenges Ahead

EnforcementJose Antonio Ziebarth, Nov 30, 2011

The present article aims to outline the latest developments of Competition Law and Policy in Brazil. The so-called Brazilian Competition Policy System has become increasingly more active over the past decade. Since the beginning of the 2000s, a commodities boom has fueled strong growth and lowered poverty across Latin America. Once hobbled with high inflation and highly susceptible to worldwide crises, Brazil now has wide foreign reserves and a rousing consumer market. Furthermore, Brazil achieved an investment grade status for its sovereign debt in 2008 and 2009.

The BCPS is internationally recognized for creative initiatives to further increment the effectiveness of their enforcement activities, including a strong and creative cartel enforcement program and efforts to streamline merger review procedures.

This article aims to provide a brief perspective and commentary on such developments. In order to do so, it will focus on the following topics: (a) the foundations of competition policy in Brazil; (b) an overview of the current Brazilian Competition Policy System; and (c) the enactment of the new legislation and its main changes