Ecuador is - as of October 13 2011- a jurisdiction where mergers, acquisitions and wide variety of commercial and corporate transactions must be notified with the newly appointed Competition Authority if certain thresholds and conditions are met. The Organic Law for Regulation and Control of Market Power (the 'Law') establishes a concentration control regime in Section 4, articles 14-24, and regulation articles 11-29.
The biggest news for the small group of local financial firms in
Ecuador this year was almost entirely legislative. In October 2011, the
country's left-leaning President Rafael Correa approved the Organic Law
for the Regulation and Control of Market Power....
CONTEXT AND TRENDS
Still largely an oil-based economy, Ecuador has an agreement in place under which it supplies oil to China in return for billions of dollars a year in financing from various Chinese banks that pre-pay for Ecuadorian crude oil. Some of this money is being used for things like renewing the country's energy model with government projects like the Coca-Codo Sinclair hydroelectric plant on Ecuador's Coca River....