Association starts the public consultation about Amec Stewardship Code

Print Friendly, PDF & Email

Period of public consultation closed!
The Association of Capital Market Investors – Amec – has released the draft version of Amec Stewardship Code for public consultation. The ultimate objective of the code is to help institutional investors fulfill their fiduciary duties before clients through the exercise of their political rights. Suggestions and comments should be sent, in writing, to Amec headquarters, preferably through the electronic address or to Rua Joaquim Floriano, 1.120, cj. 101, São Paulo – SP, CEP 04534-004, by July 15th, 2016.
According to Amec CEO, Mauro Rodrigues da Cunha, it’s essential for the capital markets that institutional investors act as owners as they are. “Every institutional investor has individual fiduciary duties before its clients that go beyond the sale and purchase of shares. Shares give them not only the right to a flow of funds, dividends, and capital gains, but also to several political rights. To ignore such political rights means to not faithfully meet fiduciary duties,” he states.
In line with global trends, the code will bring principles, mechanisms and policies that will guide investors in all governance-related issues – including their own and their investees’.
The final version of the Amec Stewardship Code will be introduced to the capital market during the 2016 Amec Investor Forum, to be held on October 27th, when the association celebrates its 10th anniversary.
Click here to access the draft version of Amec Stewardship Code.
Click here to access the public consultation notice.