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Brazil: Competition watchdog sets own limits for ‘fast-track’ merger review

By  |  September 13, 2016
Brazil: Competition watchdog sets own limits for ‘fast-track’ merger review

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.

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    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.

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