International Members Hear About Novo Mercado Changes From B3 at Amec’s Foreigners Technical Commission

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Amec’s international members reunited in May 2024 with representatives of the B3 stock exchange for a presentation about potential changes to the Novo Mercado premium listing segment proposed in a new public hearing. 

In the opportunity, Fernando Mota, B3’s Associate Director of Regulation, Guidance, and Enforcement of Issuers, presented the details and the rationale for the suggested alterations in the Novo Mercado listing requirements. International investors also had the opportunity to express concerns and voice their own views regarding the upcoming rules, such as the desire to increase the percentage of independent directors to 50% of the board instead of the 30% offered by B3, in order to align Novo Mercado to international benchmarks. 

The debate is part of the Foreigners Technical Commission, an initiative developed by Amec to bring international investors closer to the movements in the local market. Amec has been organizing individual and group sessions to update its members on local issues and hear inputs from its international community.

The suggestions collected in the aforementioned meeting will integrate Amec’s formal contribution to B3’s public hearing, which runs until August 2024.