Brasília, December 19, 2025 — Brazil’s antitrust authority CADE approved a record 75 settlement agreements in 2025, collecting more than BRL 357 million (approximately $63.8 million) in contributions linked to investigations into anticompetitive conduct across a wide range of economic sectors.
The agreements, known as Termos de Compromisso de Cessação (TCCs), involved 66 companies and 14 individuals and marked the highest annual total since CADE began systematically using the settlement mechanism in 2015. All financial contributions will be transferred to the Fundo de Defesa de Direitos Difusos (FDD), which finances projects aimed at protecting collective rights.
The settlements covered investigations spanning multiple sectors, including dental services, construction and infrastructure, foreign exchange markets, human resources, healthcare, higher education, engineering and financial services.
The largest number of agreements was recorded in the dental services sector, with 15 TCCs linked to probes into price restrictions allegedly imposed by regional professional councils. Public procurement and infrastructure projects accounted for 11 settlements, while the offshore foreign exchange market saw seven agreements, bringing to a close one of CADE’s largest cartel investigations in recent years.
From a financial perspective, the most significant contribution arose from a settlement in the construction and public works sector, totaling BRL 125 million. Additional high-value agreements were concluded in the labor and human resources market and in financial services, each contributing around BRL 80 million.
CADE also emphasized the growing use of settlements with individuals, reinforcing its strategy of personal accountability for executives, managers and professionals involved in anticompetitive practices. The authority views this approach as strengthening the deterrent effect of its enforcement policy.
According to CADE president Gustavo Augusto, the 2025 results demonstrate the effectiveness of consensual enforcement tools in antitrust policy.
“The record number of settlements approved in 2025 reflects CADE’s ability to act decisively and efficiently against anticompetitive conduct while delivering swift outcomes with tangible benefits for society. These agreements ensure the cessation of unlawful practices, strengthen compliance culture and redirect substantial resources toward projects of collective interest,” he said.
Funds collected through the settlements are fully allocated to the FDD, transforming enforcement action into direct social benefits through the financing of public-interest initiatives.
Source: https://www.gov.br/cade/pt-br/assuntos/noticias/cade-homologa-numero-recorde-de-tccs-em-2025
