Yearbook examines CADE's performance for 2021

At the beginning of a hearing held on 9 February, the Administrative Council for Economic Defense (CADE) released its 2021 Yearbook. The document shows society the authority's actions in 2021 to promote free competition and prevent antitrust violations in Brazil, as well as their results.

"The document reaffirms CADE's commitment to actively provide society with transparent institutional information and spread the word of competition in Brazil", said CADE's President Alexandre Cordeiro.

The yearbook is structured around CADE's three main fields of activity. The first one, concerning antitrust enforcement, covers the activities of merger control and fight against anticompetitive conduct, including figures and the most relevant cases heard in the year.

The second one, related to institutional cooperation, presents an overview of CADE's international actions, as well as activities carried out with other governmental bodies. The final one is about institutional improvement and includes work carried out throughout the year that contributed to CADE's institutional recognition and strengthened its performance.

Antitrust Enforcement

One of CADE's duties is to assess the effect of mergers on the market and society to promote a healthy, competitive environment in Brazil. In 2021, CADE set a record number in its history, with 627 mergers submitted for review.

Out of these, 611 deals were effectively reviewed, with an average 33 days to assess a case; considering summary cases only, regarded simpler from a competition perspective, the number falls to 20 days – one of the shortest worldwide.

As to preventing antitrust conduct, CADE launched 60 new investigations in 2021, bringing 22 new administrative proceedings. Additionally, the authority's Tribunal heard 25 anticompetitive conduct cases and approved the execution of nine merger control agreements with defendants, resulting in over BRL 1.3 billion in fines and financial contributions.

This section of the document also mentions studies, guidelines, and systems released in 2021. The CADE Department of Economic Studies (DEE) produced seven working papers on multiple topics and two issues of the publication "Review of CADE's Decisions". Moreover, the authority issued the guide "Parameters for Submitting Evidence in Leniency Applications" and launched the Clique Leniência platform, digitising the application process for leniency.

Institutional Cooperation

Last year saw two highlights in this scope: the partnerships established with governmental bodies and the leadership showed on the international stage. CADE executed 10 cooperation agreements with public bodies, participated in five international forums, and signed two memorandums of understanding with the Mexican and Indian antitrust authorities, respectively.

Regarding events to develop a culture of competition within Brazil, the body held the second edition of an event focused on fighting cartels, the Semana Nacional de Combate a Cartéis. Discussions revolved around actions to stop the illegal activity in public procurement processes, featuring 17 experts on the theme.

CADE also took part in international forums, such as those held by the BRICS, the Organisation for Economic Co-operation and Development (OECD), and the International Competition Network (ICN). Furthermore, it participated in several other events worldwide, contributing to discussions on competition policy.

Institutional Improvement

The last section covers CADE's actions to strengthen the institution and promote competition that achieved national and international recognition.

For the ninth consecutive year, the agency was given four stars in the GCR awards, an annual award ceremony carried out by the British competition law journal Global Competition Review (GCR). CADE was listed amongst the best antitrust authorities in the world and the most relevant in South America. In addition, the authority polled amongst the 120 best institutions to work for in Brazil – and the only governmental one – in an award ceremony held by the FIA institute and the web company UOL.

Furthermore, the agency won the "Readers Awards" category in the Antitrust Compliance Awards 2021 of the French competition law journal Concurrences. The body also earned the second place in an award given by Sobratt, the Brazilian society to promote remote work, and was one of the winners of Integrathon, the world's first marathon on public integrity.

In 2021, CADE also formulated a strategic plan for 2021-2024 and implemented a new product-oriented work arrangement. The yearbook also mentions initiatives to foster a culture of competition. Amongst them, the WICADE, a contest on competition law organised with the Woman in Antitrust network (WIA), and CADE Mecum, a book on the paramount principles of Brazilian competition policy.

Access the CADE 2021 Yearbook (Portuguese only).