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Brazil: CADE publishes rules for gun jumping investigations

 |  August 8, 2019

The Administrative Council for Economic Defense (CADE) recently published the Resolution No. 24, with changes to the administrative proceeding to investigate potential gun jumping cases, especially regarding the criteria for fine calculation.

Gun jumping occurs when the parties take actions to implement transactions before CADE’s approval. Once the wrongdoing is detected, the companies involved are subject to a fine. CADE may also declare the transaction null and void, and launch an administrative proceeding to investigate potential anticompetitive conduct.

The new resolution intends to give more predictability to this kind of procedure. Its actual impacts and effects will be perceived when CADE’s Tribunal rules on new cases.

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