Brazil:
CADE And Central Bank Of Brazil Approve Joint Normative Act
12 December 2018
Veirano e Advogados Associados
To print this article, all you need is to be registered or login on Mondaq.com.
On December 5th, the Administrative Council of Economic Defense
(CADE) and the Central Bank of Brazil (Bacen) approved the Joint
Normative Act No. 1, which governs the procedures for efficient
cooperation in merger control procedures involving financial
institutions and in the investigations of anticompetitive conducts
by financial institutions that are subject to the supervision of
Bacen.
The Joint Normative Act No. 1 establishes that concentration
acts involving financial institutions must be submitted to both
Bacen and CADE for independent analysis. The Act also regulates the
prudential aspects that could base Bacen's decisions to approve
transactions involving a financial institution unilaterally when
there are significant and imminent risks to the stability and
solidity of the National Financial System (SFN).
The Act regulates the sharing of information and documents
submitted by interested parties between the two authorities to
facilitate investigations of anticompetitive conducts and for the
communication and monitoring of merger control procedures.
The Act regulates the possibility of meetings between CADE and
Bacen to discuss topics that could lead the authorities to enact
normative acts that may affect competition in the SFN, and for
technical cooperation in administrative proceedings involving the
SFN.
The Joint Normative Act No. 1 is available on the BACEN website (content in
Portuguese).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Corporate/Commercial Law from Brazil
Mergers & Acquisitions 2024
Chevez Ruiz Zamarripa
En México, las leyes y regulación que rigen las fusiones y adquisiciones (M&A) están diseñadas para fomentar la inversión y mantener la competencia en el mercado, no obstante, es esencial contar con asesoría legal especializada para cumplir con los requisitos legales y llevar a cabo transacciones exitosas en México.
When Do You Need A Legal Representative In Mexico?
Biz Latin Hub Group
One of the first steps to establish a company in Mexico is to appoint a legal representative. A legal representative acts as an "official face" on behalf of your company before government...
Register A Business In Brazil In 7 Simple Steps
Biz Latin Hub Group
It's actually very simple to register a business in Brazil, the process can be completed in just seven steps. Starting a business in Brazil means you access the biggest market in Latin America!
The Guide To Corporate Compliance
Chevez Ruiz Zamarripa
Te invitamos a consultar el artículo "Rapidly Expanding Fintech Industry Brings Unique Compliance Challenges To Mexico" que escribieron nuestros(as) socios(as) Valentin Ibarra Melero y Ana Sofía Ríos Artigas, ...
Corporate Governance In Family Businesses
Vivanco & Vivanco Corporate Services LLC
Corporate Governance in a company is a concept relatively easy to define. It is the system formed by the relations between shareholders, organs of administration and of executive management...