As Latin America pushes ahead with new antitrust laws and more aggressive enforcement, counsel believe corporates around the world should pay attention.
The region is catching up with the traditional leaders in the antitrust space, the US and EU. This is partly the product of drawing inspiration from both, with LatAm moving towards convergence in the long term.
But the key short-term trend has been aggressive enforcement, and new antitrust legislation. This trend, counsel believe, should inform any corporates active in the region.
“The level of penalties, combined with real criminal enforcement, should get the attention of corporates in the region and around the globe, and should serve to deter anti-competitive conduct,” said Douglas Tween, partner at Linklaters.
Regional enforcers are both increasingly active and effective. In 2014, there were several groundbreaking enforcement actions in LatAm, with Brazil leading the way.