The Secretariat of Economic Law (SDE), the Brazilian antitrust department responsible for bringing administrative actions and collecting evidence, has released its annual report according to which the department conducted 93 dawn raids directly related to cartel investigations, a record number in a single year. Moreover, the SDE contributed to the arrest of 53 people who have allegedly participated in price fixing, market allocation and/or bid-rigging. Currently, more than 100 executives face criminal actions for cartelization.

The numbers are expected to remain high as the SDE is conducting nearly 300 cartel investigations and has recently joined the US DOJ and the EC DG Comp in the international anti-cartel enforcement network established to coordinate investigations and launch joint operations. Last February, the SDE, the DG Comp and the DOJ simultaneously raided the offices of producers of compressors for refrigeration.

Furthermore, the SDE has increasingly focused on Brazilian trade associations, many of which are believed to foster and monitor collusive agreements.

Lanna Peixoto Advogados (LP) - Antitrust Practice Group

For further information, please contact Bruno Peixoto at bpeixoto@lpglobal.com.br or +55 11 5185-2848