Brazil - The First Six Months of the Lula Administration and Beyond

As Brazil emerges from a historic presidential election which resulted in Luiz Inácio Lula da Silva (Lula) assuming office as the newly elected President in January 2023, the country enters a period of transition marked by challenges and opportunities. This guide aims to describe certain aspects of the first few months of the Lula administration and provide an overview of key areas that are expected to undergo significant changes and developments with respect to the business and regulatory landscape in Brazil.

This guide will delve into the potential impact of the new administration on various sectors, practice areas and transactions including the financial institution sector, mergers and acquisitions (M&A), antitrust, ESG (Environmental, Social, and Governance), compliance, data privacy, and capital markets.

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Authored by:

Ana Laura Pongeluppi
Felipe Lacerda
Julio Alves
Lizandra Baptista
Marcella Canteruccio
Mariana Vasques Matos
Rafael Scatamacchia

This guide was coordinated and supervised by:

Isabel Costa Carvalho
David Contreiras Tyler

*Hogan Lovells is registered and licensed as a foreign legal consultancy with the Brazilian Bar Association. In accordance with Brazilian Bar Association rules, Hogan Lovells does not practice Brazilian law and the discussion above regarding Brazilian laws, rules and/or regulations has been obtained from publicly-available sources and is for informational purposes only. The discussion above is limited by the nature of our practice in Brazil and is solely derived from publicly-available information. The information contained herein should not to be construed as legal advice or otherwise be a substitute for advice provided by practitioners licensed to practice Brazilian law.

Isabel da Costa Carvalho
São Paulo
Felipe Borges Lacerda Loiola
São Paulo


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