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Conselho Administrativo de Defesa Econômica (CADE)
The Brazilian competition authority, CADE, has issued its guidelines on competition compliance programs. Following the emerging trend, the CADE states that compliance programs do matter, and will be taken into account in dealing with corporate offenses. This is much closer to the approach taken by Chile, Canada, the UK, Italy, Singapore and others.
Among other points, CADE states that “prevention is always preferable than repression, as it represents a smaller cost to society.” Indeed, it would seem that encouraging companies to adopt and strengthen compliance programs would be a core focus of any competition law enforcement agencies that wanted to protect society from anticompetitive conduct. Yet this contrasts sharply with the position of the European Commission, which disdains any recognition of compliance programs.
CADE also emphasizes that compliance programs are even appropriate for small companies, citing “A Compliance Program on a Dollar a Day: How Small Companies Can Have Effective Programs,” http://www.corporatecompliance.org/Portals/0/PDFs/Resources/ResourceOverview/CEProgramDollarADay-Murphy.pdf
The English version of the guidance can be found at: http://www.cade.gov.br/upload/Compliance%20Guidelines%20-%20final%20version.pdf
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