CADE celebrates 59 years of defending competition in Brazil

CADE celebrates 59 years of defending competition in Brazil
Photo: 15.10.2021 405

Court of the Administrative Council for Economic Defense celebrated, in the judgment session the 6th of October, the 59-year history of the Brazilian antitrust agency.

Created by Law No. 4,137, on the 10th of September, 1962, CADE was established as an agency of the Ministry of Justice with the competence to oversee companies' economic management and accounting system. In June 1994, it was transformed into an autarchy under a special regime, linked to the Ministry of Justice, after the publication of Law No. 8.884/94.

In May 2012, the current Competition Defense Law (Law No. 12,529/11), which restructured the Brazilian System for the Defense of Competition, entered into force. Among the changes implemented, we highlight the establishment of prior analysis of mergers and the change in the structure of CADE, which is now composed of the Administrative Court, the General Superintendence and the Department of Economic Studies.

For Alexandre Cordeiro, president of CADE, the Council has always worked to maintain a healthy competitive environment in the country, preventing or repressing acts contrary to the economic order and free competition. He recalled the importance of all collaborators who helped build this story.

"Our anniversary is an important date to celebrate the achievements that have brought us here. Undoubtedly, they would not have been possible without the daily effort of all the collaborators who are now part of the institution or who have already left their contributions in our trajectory", he stressed.

Cordeiro took the opportunity to highlight the municipality's commitments to the future, ensuring excellence in the services provided to society continuously.

Source: CADE website


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