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Doing Business in Brazil
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competitive issues) are expected to be decided much faster.
Failure to submit the act to CADE before its implementation (“gun jumping”) may result in fines ranging from R$ 60,000 to R$ 60,000,000, and nullification of the transaction.
3. Cease and Desist Agreement and Leniency Agreement
Companies and individuals under investigation by CADE may sign with the authorities Cease and
Desist Agreement and Leniency Agreement to detain or avoid further penalties for antitrust violations.
In Cease and Desist Agreements,
the company or individual agrees
to comply with specific obligations and conducts, while the Leniency Agreement grants immunity to companies and individuals who take part in anticompetitive conducts, in exchange of a confession, termination of a practice, and disclosing information to the authorities.
