Budget Woes Delay Brazil's Antitrust Reform
April 11, 2011 — Competition and Corporate Finance Law360
New York-based Antitrust Group counsel Olivier N. Antoine talks about how new Brazilian competition legislation could impact antitrust enforcement in Latin America. Many had expected the legislation, which would mark the biggest change to the nation's current antitrust regime since it was established in 1994, to be passed by July. Now, due to budget worries, the legislation is likely on hold until as late as 2012.
According to Antoine, "Three years ago, antitrust enforcement in Latin America wasn't on the map. But those days are over." On the new competition law, "The way it was originally approved, it was all towards enforcement. An overlooked element of the new law indicates that regulators will, nevertheless, remain tough."