Friday, September 5, 2008
Posted by D. Daniel Sokol
Barbara Rosenberg (FGV Law and Barbosa, Müssnich & Aragão) has alerted me that changes are afoot in the Brazilian competition policy system. She writes that CADE, ultimate authority for competition related matters in Brazil, has just approved a Resolution (Resolution CADE nº 49/2008) which alters the proceeding and the notification form for merger submissions. The new form has been released, but an English version is not yet available. It is possible to anticipate, in any case, that the new form will require some more detailed information on transactions and companies involved.
One of the main changes is that submissions will now be made electronically. The authorities have developed a specific software for the submissions to be filed online. Within 2 days as of the online submission, applicants will be required to file a printed version with the Secretariat of Economic Law of the Ministry of Justice (SDE) as well as electronic copies of appendixes recorded on CDs or DVDs.
The new system, however, will be implemented only after the SDE issues an applicable corresponding regulation. There will be a migration period of 4 months during which the printed submissions based on the old notification form will still be accepted.