Guidance Letter 02 Privileged Information and the Board of Directors

The access to and use of non-public information (insider trading) in the trading of securities is one of the major threats to the capital market.
The Brazilian Institute of Corporate Governance (IBGC) considers that Boards of Directors must keep a trustful environment, assuring that information is disclosed on an equitable and transparent basis, in addition to being widely accessible.
To guide the work developed by the entity’s members, IBCG published a Guidance Letter about the matter recommending that Board of Directors adopt a number of measures that can be classified in three stages: prevention, monitoring and reaction.
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