Brazil’s Administrative Council for Economic Defense (CADE) has released Resolution No. 16, in which the agency has set its own limits and obligations for the process of ‘Fast-Track Proceeding’ merger notifications. The resolution makes the regulator responsible for approving or challenging any new business merger entered within the scheme -directed towards low-level mergers- within 30 days from the date of notification.
Any period beyond the 30 day limit must be justified before the General Superintendence, CADE’s highest authority. The case is also automatically transformed into a First Priority case for review. Brazil’s competition law sets a maximum limit of 240 days for any merger review process.
This 30 day limit does not include the 15-day period, after publication, during which a third party or CADE itself may raise objections before the regulator. The time restrictions, already a long-standing voluntary practice at the agency, is now enshrined as an obligation by the Resolution.
Full Content: Mondaq News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI