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What’s new in Brazil: CADE’s guidelines on leniency agreements

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Following the successful launch of the Antitrust Compliance Program Guidelines. Compliance Program Guidelines, the Administrative Council for Economic Defense – CADE (Brazilian Competition Authority) has recently issued the preliminary version2 of its Leniency Program Guidelines.

Read together, both Guidelines show that while it is important for corporations doing business in Brazil (i) to invest in constant and appropriate training of employees (specially high-ranking employees) in the enforcement of the Brazilian Competition Act (Law No. 12529/2011) given the specific features of their day-to-day business practices; it is also essential for them (ii) to draft proper documentation about the company's competition compliance activities, (iii) to be able to obtain in advance information on potential misconduct; and (iv) to be organized, diligent, fast and prepared in reporting non-compliance situations to the competent authorities...

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