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,
