Joint action by Cade and the Central Bank signals the end of a process

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After decades of debates, guided by arguments on both sides, we can say that the month of February closed with a “golden key”: the Central Bank of Brazil and the Administrative Council for Economic Defense signed a memorandum of understanding (MoU) establishing guidelines for joint action by local authorities. The MoU signals the end of a process, which even reached the STF.


Both institutions have legal support B2B Lead for their activities. The BC, as regulator and supervisor of the National Financial System (SFN), under the terms of Law 4,595/64, must, among its responsibilities, ensure the liquidity and solvency of financial institutions and the SFN and promote their efficiency, which is embodied in the organization activities and analysis of mergers in this important segment of the economy. In its organizational activity, the BC evaluates the competitive structures present in the SFN, which can influence not only the nature, quality and price of financial services offered to the population, but also have a direct impact on efficiency, business model and form of operation. of the financial institution.

Cade, in turn, with its activities defined by Law 12,529/11, is responsible for preventing and repressing infractions against the economic order. Cade has always defended its competence to analyze cases in all markets, including the financial market. This action was even confirmed by the cases that went through the authority in recent years, which not only analyzed acts of concentration but also investigated and acted in relation to anti-competitive practices in the financial market.



In this context, we see the signing of the MoU and the consequent increase in cooperation between local authorities as an important milestone. As Cade analyzes different markets and its concern is with the competitive environment, interdisciplinarity is more than necessary. Therefore, when a working group formed by representatives of the two authorities was created last year, its representatives began to dialogue in a collaborative environment resulting in the celebrated MoU, confirming a cooperation that had already been carried out by the institutions for years. In this way, the model of cooperation and coordination negotiated between the BC and CADE in the MoU has as one of its virtues ensuring that the two authorities act within the scope of their legal competencies, at the same time that it provides clear parameters of action and a high degree of coordination and cooperation and exchange of information.