Ministry of Finance opens second cycle of Regulatory and Competition Assessment Procedure

On January 2, 2026, the Brazilian Secretariat for Economic Reforms (“SRE”) of the Ministry of Finance launched the second cycle of Regulatory and Competition Assessment Procedure (“PARC”).

PARC was established in 2025 to identify regulatory deficiencies (i.e., regulatory practices or legislation) that have anticompetitive effects. The submission period for cases to be reviewed under the PARC scope will remain open until February 28, 2026.

The SRE monitors and coordinates proposals for microeconomic reforms and regulatory improvements, aiming to improve the Brazilian business environment.

The findings produced by the SRE contribute to regulatory authorities’ decision-making process to review, amend, or repeal rules that may impact competition, both within the Executive and Legislative branches. For example, the SRE’s assessment and recommendations were essential in updating the regulatory policy of the Worker’s Food Program (PAT), which introduced caps on merchant discount rate fees and reduced funds transfer timelines. The SRE also spearheaded the drafting of a bill to establish the “antitrust regulation of digital platforms” in Brazil.

The first cycle of PARC has so far produced three official reports analyzing resolutions by the National Waterway Transportation Agency (ANTAQ), the Brazilian Drug Market Regulation Chamber (CMED), and the Brazilian Health Regulatory Agency (ANVISA):

• ANTAQ Resolution No. 109

The first PARC report, published in November 2025, addressed ANTAQ’s resolution that regulates the fees for non-invasive port inspection services. The SRE’s review concluded that the inspection pricing model could distort competition and affect the structure of both the containerized cargo port terminal market and the bonded storage market.

• CMED Resolution No. 2/2004

The second report addressed CMED’s resolution that was recently repealed and replaced by CMED Resolution No. 3/2025. It concerns the criteria for maximum pricing of medicines in Brazil.

The SRE’s report was published shortly before this update, pointing out that CMED’s criteria distort competition by allowing medicines with the same formulation to receive different maximum price authorizations depending on when they entered the market. The report also noted that, in some cases, the maximum prices in Brazil ultimately exceeds the prices charged in other countries. CMED Resolution No. 3/2025 aims to resolve this distortion by stipulating that the reference price proposed by the manufacturer cannot exceed the lowest price charged in the countries referenced in the resolution.

• ANVISA Resolution No. 954/2024

The latest report, published in December 2025, concerns the simplified procedure for the marketing authorization and post-marketing authorization of identical medicines linked to a parent medicine (“clone medicines”). The report concluded that by restricting the simplified procedure to companies that hold the parent registration or to their economic group, the resolution under review reduces the number or variety of economic agents that can market “clone medicines”.

Three other rules selected in the first cycle of PARC are still under review by the SRE:  Resolution No. 957/2023 of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP), Resolution No. 304/2023 of the Central Bank of Brazil (BCB), and a set of federal laws providing for the social security and social welfare framework.

Since revising regulations typically involves different stages of the regulatory cycle and considers diverse perspectives of the affected players, PARC acts as an effective communication mechanism between the Ministry of Finance and various regulated markets, reducing information asymmetries and supporting efforts to persuade stakeholders of the competitive rationale for revising or maintaining a given regulation.

For more information, access the PARC public calling.

Demarest’s Competition team is available to provide further clarification.