Juntos - November 2025

Welcome to Juntos, our bulletin that explores antitrust and competition developments across US-Latin America. In this issue, we look at key headlines from the third quarter of 2025.

CNDC concludes first part of its National Competition Authority member selection process. The Argentine competition agency (Comisión Nacional de Defensa de la Competencia, or CNDC) has finished the first part of its National Competition Authority member selection process, as provided by Law 27,442. Once the members have been appointed by President Javier Milei, the National Competition Authority will begin operations. Once the authority has operated for one year, Argentina’s merger control will become suspensory – that is, transactions subject to merger control may no longer be closed prior to obtaining governmental approval.

BRICS+ countries signal commitment to heightened role in global competition policy. At the 9th BRICS International Competition Conference in Cape Town, country officials from BRICS+, an intergovernmental organization that includes Brazil, Russia, India, China, South Africa, the United Arab Emirates, Egypt, Ethiopia, Indonesia, and Iran, signaled their intention to take a greater role in global competition policy.

Conference speakers from the UAE, South Africa, Brazil, and China argued that Western pullback from multilateralism creates space for the bloc to set standards reflecting “Global South” priorities. They emphasized a commitment to stronger enforcement capacity, coordinated merger control and remedies, and cooperation within sectors central to cost of living and development – particularly food, healthcare, digital platforms, energy, and infrastructure. The conference concluded with the next meeting set for Brasília in 2027.

BRICS+ now represents roughly 36 percent of global gross national income, 46 percent of the world’s population, more than 40 percent of oil production, and more than a third of gas output.

MMA voices concerns over suspension of Brazil’s soy moratorium due to alleged anticompetitive conduct. In a statement, Brazil’s Ministry of the Environment and Climate Change (MMA) voiced concern over the Administrative Council for Economic Defense (CADE) General Superintendence’s precautionary decision to suspend Brazil’s long-standing soy moratorium based on alleged anticompetitive conduct. First implemented in 2006, the soy moratorium is a voluntary commitment among participating soy traders to refrain from purchasing soybeans from any farm that has cleared forest in the Amazon after July 2008.

The MMA argued that the moratorium – an almost 20-year environmental commitment among companies and civil society, endorsed by the government – has delivered undeniable environmental benefits and shows no elements that, on their own, would characterize a buyer cartel warranting such a measure.

The MMA stated that free competition must be balanced with environmental protection and that a narrow reading prioritizing competition alone distorts the constitutional order. According to the MMA, the moratorium demonstrated that agricultural production can expand competitively with productivity gains, legal compliance, and human rights protections. Rather than restricting the market, the MMA argued that the agreement bolstered Brazil’s reputation as a reliable supplier of deforestation-free soy without socio-environmental violations.

CADE to launch tech enforcement unit. Brazil’s CADE plans to establish a temporary enforcement unit by year-end to focus on digital markets, especially Big Tech, with an emphasis on unilateral conduct cases. According to CADE, the unit was designed to build expertise and prepare for future digital enforcement challenges. The internal restructuring requires approval from the Ministries of Justice and Public Security, Management in Public Services, and the Civil House.

In parallel, the Ministry of Finance is preparing to submit a bill to Congress that would grant CADE ex-ante regulatory powers over major digital platforms. The measure must pass the Chamber of Deputies and the Senate before presidential approval, so timelines are uncertain – another reason CADE views the temporary unit as a practical “laboratory” ahead of new legislation.

FNE pursues Delivery Hero and Glovo for alleged market allocation. Chile’s National Economic Prosecutor’s Office (Fiscalía Nacional Económica, or FNE) has filed a complaint against Delivery Hero, parent company of Pedidos Ya, and Glovo before the country’s Antitrust Court (Tribunal de Defensa de la Libre Competencia, or TDLC), accusing them of engaging in an international market-division agreement that resulted in Glovo’s exit from the Chilean market.

The complaint alleges the companies signed four asset-transfer contracts on April 26, 2019, under a project dubbed “Project Green,” which included non-competition clauses preventing each company from operating in markets ceded for three years, thus dividing territories across four countries.

The FNE is seeking a fine exceeding USD74 million – approximately USD55 million for Delivery Hero and USD19 million for Glovo – and corrective measures, citing the seriousness of the conduct, deterrence, and the companies’ economic capacity. According to the FNE, the agreement significantly reduced competition in delivery services in Chile, limiting choices for consumers and reducing pressure among rival platforms.

Alleged collusion of king crab’s purchasers. The FNE has filed a complaint against seven processing companies and eight executives before the TDLC, accusing them of colluding in the market for the purchase of southern king crab (centolla magallánica). The complaint alleges that, between 2012 and 2021, the companies coordinated to fix the prices paid to artisanal fishermen, significantly harming competition and reducing their income.

The FNE is seeking fines exceeding USD54 million – the highest amount ever requested in a collusion case involving fisheries – and measures to prevent the recurrence of such practices.

Mexican government to appoint commissioners for new competition authority. As noted in previous editions of Juntos, Mexico will soon establish its National Antitrust Commission (CNA) following constitutional reforms that include merging the current autonomous competition watchdog (Comisión Federal de Competencia Económica, or COFECE) with the Federal Telecommunications Institute (Instituto Federal de Telecomunicaciones, or IFT).

The number of designated CNA commissioners has been reduced from seven to five, with their terms shortened from nine years to seven. President Claudia Sheinbaum has also nominated the five commissioners to the CNA’s decision-making board, which includes the current COFECE chair, current and former commissioners, the former Mexico City labor secretary, and a former IFT investigative chief.

COFECE concludes investigation into competition barriers in Mexico’s retail e-commerce platforms. COFECE formally concluded its investigation into competition dynamics within Mexico’s retail e-commerce sector. The investigation aimed to assess whether dominant online marketplaces or related service providers were engaging in conduct that could restrict competition.

Throughout the investigation, COFECE gathered extensive economic and commercial data from major platforms, logistics providers, fintechs, independent sellers, consumer associations, and sectoral regulators – resulting in one of the most comprehensive public records ever compiled by Mexico’s competition authority in a digital market.

While COFECE’s Plenum acknowledged the existence of barriers affecting sellers, it did not reach consensus on implementing corrective measures due to uncertainty about the potential benefits for consumers and small businesses.

The investigation delivers key insights into the structure and behavior of the e-commerce market and could open the door for public and private stakeholders to foster greater competition.

As of today, COFECE remains operational, and the National Antitrust Commission has not yet been formally established. For further details, please refer to our previous issue of Juntos.

DOJ official signals major changes to antitrust leniency program. Omeed Assefi, acting Deputy Assistant Attorney General (AG) for criminal antitrust enforcement at the US Department of Justice (DOJ), announced that significant changes to DOJ’s antitrust leniency program are expected before the end of his tenure.

Assefi stated that leniency applicants seeking immunity for self-reporting antitrust violations will be required to provide substantial assistance, including testifying before grand juries and fully cooperating with investigations. He emphasized that leniency will not be granted to those unwilling to meaningfully advance DOJ cases, and that the agency aims to balance strong case generation with clear, predictable standards.

While leniency applications have increased since the COVID-19 pandemic, concerns remain about associated burdens and risks, especially exposure to civil litigation. Assefi encouraged applicants to work closely with DOJ Antitrust Division staff and highlighted a new whistleblower program with the US Postal Service to incentivize reporting of postal service-related antitrust violations.

DOJ expands criminal antitrust enforcement with whistleblower rewards and leniency program reforms. In July 2025, DOJ’s Antitrust Division launched a new whistleblower rewards program and announced proposed changes to its leniency policy. The program offers financial incentives to individuals who report cartel activity and other antitrust violations.

In September, Daniel W. Glad, Director of the Procurement Collusion Strike Force, announced that the whistleblower program had already begun receiving submissions from industry insiders and legal counsel.

Omeed Assefi noted that the program, informally dubbed “Cash for Cartels,” is part of a broader effort to expand the division’s pipeline of criminal cases. He emphasized the need to address concerns about a two-tier justice system and highlighted DOJ’s commitment to treating white-collar antitrust offenses with the same seriousness as violent crimes.