Association calls attention to the distortion of the business purpose by companies
Amec – the Association of Capital Market Inventors – sent a letter to CVM – the Brazilian Securities and Exchange Commission – on November 4th, 2016, voicing its concern about companies that have been distorting their business purposes, mainly by taking advantage of gaps, such as “the participation in other corporations.” Recent cases reinforce this concern.
In the letter, Amec states that the law and CVM itself have already expressed its opinion against such schemes.
Click here to access the Letter from the President 23/2016 – Misrepresentation of listed companies’ business purposes.
