IWRCF at Global Competition Review and Latin Lawyer: CADE issues chargesheet against Brazil’s biggest banks in fintech probe
Global Competition Review (GCR) and Latin Lawyer mentioned IWRCF and the Competition Team in the article regarding the adminstrative procedure initiated by the Brazilian Competition Authority (CADE) against the banks.
In April 2018, CADE had opened a preliminary inquiry into the country’s five largest banks after NuBank, represented by IWRCF, accused them of creating barriers to entry in the financial technology market.
This week, CADE initiated the administrative procedure at the end of which the banks may be fined from 0.1% to 20% of their gross revenue in the affected market.
See the full news here: Global Competition Review / Latin Lawyer.