CADE: 2025 institutional developments at Brazil’s antitrust authority and the outlook for 2026

Public hearings and the Digital Platforms Bill

CADE held a series of public hearings in 2025 to gather stakeholder input on key sectors. The first one, held on February 19, addressed competition-related aspects of mobile operating systems (iOS and Android). In December 2025, the 36 submissions were compiled into a technical report.

The public hearing came in the wake of certain CADE investigations into mobile operating systems. The contributions have informed decisions in 2025 and will guide future cases in this and adjacent sectors.

In September 2025, the Brazilian government submitted Bill No. 4,675/2025 to the Brazilian House of Representatives. The bill proposes the creation of a Digital Markets Superintendence within CADE, the designation of systemically relevant platforms based on economic and technical criteria, and the imposition of special obligations on them. Congress has yet to debate the bill. Lawmakers are discussing whether to fast-track it, bypassing committee review.

Strengthened leniency program

Following a public consultation in September, CADE released an updated leniency guide. The key change is the expansion of eligible conduct to include wage-fixing, no-poach agreements, sensitive information exchanges, and buyer cartels (beyond traditional cartels).

The guide also clarifies that:

• Leniency benefits granted to trade associations may extend to their officers;
• Employees without managerial functions (i.e., those with limited decision-making authority) cannot automatically extend their individual leniency to their employer; and
• Partial leniency always results in lower fines than a Cease-and-Desist Agreement (TCC), making it the best option when full leniency is unavailable.

Merger notification criteria

On April 23, 2025, CADE updated its FAQs on merger notification criteria, providing greater transparency and consolidating the authority’s positions. For further details, please refer to this previous edition of our competition bulletin and our complete analysis on Único.

CADE leadership changes in 2026

Major leadership changes are expected at CADE in 2026. Commissioner Victor Fernandes’s term ended in February, and Commissioner Gustavo Augusto’s term ends in April, leaving the Tribunal with three vacancies – including the presidency, which has been vacant since July 2025. Superintendent-General Alexandre Barreto (June 25) and Attorney General André Luís Freire (July 14) are also set to conclude their terms. The President of Brazil must nominate replacements for all these positions, subject to Senate confirmation.

Despite these departures, CADE will continue to operate normally as long as the four-member minimum quorum required for Tribunal sessions is maintained. As has happened in the past, falling below quorum could suspend proceedings and procedural deadlines.

Public consultation on proposed guide to competitor collaboration

On March 18, 2026, CADE submitted its proposed Guide to Collaboration Among Competitors (Guia de Colaboração entre Concorrentes) for public consultation. This guide consolidates guidelines for properly structuring cooperative arrangements under the Brazilian Competition Law. The consultation will remain open until May 4, 2026, and contributions may be submitted through the Brasil Participativo platform. All submissions received during the public consultation period will be reviewed and will inform the final version of the guide.

The proposed draft covers a range of cooperative arrangements among competitors, such as associations, R&D initiatives, joint purchasing, network sharing agreements, and sustainability-focused projects. It also dedicates a specific chapter to the exchange of competitively sensitive information.

The proposal clarifies which arrangements qualify as mergers and acquisitions subject to prior CADE approval, and which may constitute potentially anticompetitive practices. The text also sets out criteria for assessing competitive risks and for identifying potential efficiencies related to the various types of cooperative arrangements addressed.

Public consultation on amendments to CADE’s internal rules

In early 2026, CADE opened a public consultation via the Brasil Participativo platform seeking input on proposed amendments to its internal rules. Submissions were accepted between January and February. The consultation process is currently in the systematization phase.

The proposed amendments aim to:

• Eliminate a requirement for defendants being initially served exclusively via post; and
• Formally establish electronic filing at CADE. This modernization effort aims to streamline procedures while preserving due process protections.

Stakeholder submissions have suggested refinements to improve predictability and strengthen procedural safeguards, including a transition period before new rules take effect, objective criteria to confirm proof of service has been received, and postal mail as a fallback for failed electronic notifications. CADE has yet to set a deadline for announcing the updated rules.

Regulatory and Competition Assessment Procedure – second public consultation

As previously reported, the Ministry of Finance’s Secretariat for Economic Reforms (SRE) opened a second public consultation under the Regulatory and Competition Assessment Procedure (PARC) to evaluate the regulatory and competitive impacts of existing rules. The consultation period closed on February 28, 2026, with 36 submissions received, which are currently being systematized. The SRE will then publish the contributions and identify which regulations will enter the second review cycle.

In the first cycle, the SRE selected seven regulations and published studies on three of them. Its analyses combined in-depth sectoral reviews, regulatory assessments, market data, and stakeholder engagement through meetings and formal inquiries. These reviews may result in specific proposed amendments.

For more information on these topics, please contact Mattos Filho’s Antitrust practice area.