Immunity, Sanctions & Settlements 2017

IMMUNITY OR A 100 PER CENT REDUCTION IN SANCTIONS

1 What benefits are available to the first applicant to qualify?

Article 86 of Brazil's Antitrust Law (Law No. 12,529/11) authorises the Director General (DG) of Brazil's antitrust authority (CADE) to enter into leniency agreements under which individuals and corporations, in return for their cooperation in prosecuting a case, are excused from some or all of the administrative penalties for the illegal conduct under the law. Such benefits are confirmed at the time the case is adjudicated by CADE's Tribunal (article 86, paragraph 4, of Law No. 12,529/2011).

Brazil's Leniency Programme provides for a winner-takes-all approach: the first applicant to qualify will be entitled to full or partial administrative immunity depending on whether the DG was previously aware of the illegal activity being reported. If the DG was unaware, the party may be entitled to a waiver from any penalties. If the DG was previously aware,