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BTG Pactual appealed on Wednesday (19) for a preliminary (provisional) ruling prohibiting the bank from soliciting XP-related autonomous agents, thus setting the tone for the brokerage firm's dispute over competition unfair. an injunction was revealed by the newspaper Valor Econômico on Wednesday.
Folha learned that the bank was waiting for a decision later on Wednesday, the last day before the suspension of the work of the judiciary.
XP, the largest independent brokerage firm in the country, appealed to BTG in court on the grounds that the bank would use anti-competitive practices to recruit some of the home investment agents, which BTG denies. The main accusation is that BTG would have used confidential information from the broker to which it would have had access during the IPO surveyed by XP in 2016. The data would have been used for the creation of BTG Pactual Digital, the investment platform
The brokerage also claims, according to the information in the injunction, that the bank has signed a two-year non-compete agreement, which does not Would not have been respected by BTG.
BTG Pactual Digital was on the air since at least November.
XP also claims that BTG would be stimulating. At the injunction, judge Luis Felipe Ferrari Bedendi complied with XP's demands, preventing the bank from approaching XP's autonomous agents and using them. customer data. No fines were imposed in case of non-compliance.
BTG stated in a statement that the statements in question were unfounded. "The bank will take all appropriate measures in favor of free competition and against the abuse of economic power or any type of monopoly," he said in the text
. XP said it would not comment on the case. companies or people who serve the brokerage firms. The work consists of badisting in the distribution of products and executing orders for the purchase and sale of securities on the stock market. In practice, they act as sellers of financial products.
The use of autonomous agents was the basis of XP's growth, founded in 2001 in Porto Alegre, inspired by the American broker Charles Schwab, according to innumerable interviews granted by Guilherme Benchimol, one of the founders and president of XP.
Behind the Scenes, BTG Pactual Attempts to Respond to XP Attacks by Stating that the Brokerage Firm Takes Anti-Competitive Practices and Disagrees with Cade (Administrative Council for Economic Defense) to Approve the Sale of
XP however, would have 80% of the links with autonomous agents in the country, which would explain the progress of BTG on these professionals.
In the agreement signed with Cade, XP is committed not to require the exclusivity of autonomous agents that can work for other platforms in order to facilitate competition with other platforms.
In addition to BTG, other brokerage firms operate with independent agents, such as Guia, Órama and Modalmais
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