Silveira Neto, Otacílio dos SantosVasconcelos, Marta Barros2021-05-122023-03-072021-05-122023-03-072019-06-13VASCONCELOS, Marta Barros. Os acordos de leniência sob a perspectiva do law and economics: limites e possibilidades de sua utilização pelo Banco Central na efetivação do princípio da livre concorrência. 2019. 91 f. Monografia (Graduação em Direito) - Departamento de Direito Público, Centro de Ciências Sociais Aplicadas, Universidade Federal do Rio Grande do Norte, Natal, 2019.https://repositorio.ufrn.br/handle/123456789/51743The objective of this study is to conduct an economic analysis of the Leniency Agreements carried out by the Central Bank in the scope of the administrative sanctioning process against infractions to the economic order, especially as regards the defense of the principle of free competition within the financial system, Law no. 15,506/2017. This analysis is necessary in the face of the pre-existing conflict of competence between the performance of the Central Bank and the national antitrust body, the Economic Defense Council (CADE) in defense of the competition of the banking sector, in order to verify the limits and possibilities of the Central Bank's performance in the current Brazilian legal order, and what would be the most efficient form of state action in the meantime. In order to do so, an initial discussion of the general aspects of the Sanctioning Administrative Law is made, approaching the leniency agreement institute its relation with the implementation of the constitutional administrative principles of efficiency and unavailability of the public interest. The main aspects of the Constitutional Economic Order, exploring with more focus the principle of free competition, and addressing the Brazilian antitrust system (SBDC), as a way of demonstrating the intention of the ordinary legislator in grant greater protection to this principle that conforms the economic order, according to art. 170 of the CRFB / 88. In addition, it analyzes the role conferred to the Central Bank of responsible for the defense of competition in the financial sector, according to the study of art. 18, § 2 of Law no. 4,595/1964. This is the central problem and object of study of this work: the conflict of competence preexisting between the actions of the Central Bank and CADE in the defense of the competition of the financial system gains new contours with the advent of Law no. 15,506/2017 that allows the Central Bank to execute Leniency Agreements in the sanctioning administrative process, bringing up again the discussion about the competence of both for the use of this instrument of horizontalization of the sanctioning activity in defense of the competition of the banking sector. In order to analyze the inherent aspects of this conflict, the fundamentals of the efficiency study proposed by the Economic Analysis of Law are presented as a way to find the best solution to resolve the conflict of competence between the two authorities. Finally, the theory of the "antitrust exemption" is used as the best solution to the problem presented, after analyzing the jurisprudential understanding on the subject, in addition to the document of understandings issued by both authorities.Direito econômicoAcordo de leniênciaDefesa da concorrênciaBanco CentralConflito de competênciaAnálise econômica do direitoEconomic lawLeniency agreementDefense of competitionCentral BankConflict of competenceEconomic analysis of law.bachelorThesis