August | 2018
Six weeks are left for Brazil’s presidential elections (the first round of voting will be on October 7), which are expected to be one of the most disputed elections in recent years. With this in mind, the theme of the 2018 Amec Investors Forum, held last Wednesday (August 22), was “Proposals for the Development of the Capital Markets” and one of the forum’s highlights was the panel to discuss the presidential candidates’ proposals for the development of the capital market in the long term. The following guests attended the event: Gustavo Franco, coordinator of Partido Novo’s economic program; José Marcio Camargo, from the MDB Party; Marcio Pochmann, one of the coordinators of the PT Party’s campaign, and Mauro Benevides, responsible for the PDT Party’s economic program. Read more
The next meetings are confirmed, as follows, only for members:

» Technical Commission – September 19, at Amec’s headquarters in São Paulo, with remote access.

» Foreigners Commission – September 26, via conference call.

» Management Board – September 27, at Amec’s headquarters in São Paulo, with remote access.

Confirmations of attendance must be submitted to maria.alice@amecbrasil.org.br.

The association’s annual calendar of meetings is available here.

The SOEs Law: accomplishments and challenges walk side by side

Mauro Rodrigues da Cunha (on the right) during the debate about governance in SOEs, together with representatives from the BNDES, IBGC, CVM, SEST, Petrobras, Eletrobras, and Banco do Brasil, in Rio de Janeiro
“It is imperative to select the best professionals to manage listed state-owned enterprises. Governance implies the delegation of power and accountability,” said Mauro Rodrigues da Cunha, Amec’s CEO, during the debate “Governance experiences and challenges of Brazilian SOEs”, held on August 8 and organized by the Brazilian Institute of Corporate Governance (IBGC) and the Brazilian National Bank for Social and Economic Development (BNDES). The discussions were centered on the Law 13,303 (the State-Owned Enterprises Law). Read more

Amec repudiates the Congress’ attempt to ease the SOEs Law

On August 8, Amec published a notice to the market in which it classifies the proposal to amend the Law 13,303 (the SOEs Laws) as a mistaken decision regarding the possibility of allowing the election of party leaders and other political agents to the governance boards of state-owned enterprises. Read more

AGM to be decisive in the Boeing-Embraer case

Since July, when Boeing and Embraer signed a letter of intent to form a joint venture, capital market’s participants have been wondering about the impact of the operation for the Brazilian company’s investors and the integrity of the local market. The concern comes from the fact that Embraer will hold only 20% of the new company, dedicated to the production of commercial jets, its main line of business. On account of that and on account of the possibility that the operation is submitted for approval in the Annual General Meeting until the end of the year, Amec published a notice warning the market about the importance of deliberation and of shareholders’ active participation – also in the exercise of the fiduciary duties as provided in the Amec Stewardship Code. Read more

Amec requests the revision of tender offer rules and the creation of a regulation for appraisal reports

In a letter sent to the CVM’s Board on August 15, Amec requested that the regulator carry out a complete revision of the Instruction 361. Edited in 2002, the instruction regulates tender offers. Amec’s request is motivated by the constant imbroglios involving tender offers, primarily those resulting from the indirect change of control. Read more

Leniency agreement should include the compensation of all damaged shareholders

Amec has requested to the Public Prosecutor’s Office (MPF) that the revision of the leniency agreement of J&F, the Batista brothers’ holding company that controls listed companies such as JBS, include the payment of damages to all shareholders. The BRL 10.3 billion-agreement signed in June 2017 established the (direct and indirect) payment of damages to the Federal Government, to official banks, to the Guarantee Fund for Length of Service (FGTS) and to the MPF itself, but included no compensation to the minority shareholders. Read more
Congresso Brasileiro de Mercado de Capitais
Brazilian Capital Market Congress
Organized by: Anbima and B3
Date: September 3 and 4, 2018
Venue: Memorial da América Latina - Av. Auro Soares de Moura Andrade, 664 - Barra Funda, São Paulo/SP
Amec’s members are entitled to a discount (“Institutional Partners”)
Click here for additional information.
8º Encontro de Contabilidade e Auditoria
8th Accounting and Audit Meeting
Organized by: Abrasca and Ibracon
Date: September 12, 2018
Venue: Teatro CIEE, Rua Tabapuã, 455 – Itaim Bibi - São Paulo
Click here for additional information and to register.
19º Congresso Anual IBGC – Ecossistema de governança: Inovação e legado
IBGC 19th Annual Congress – Governance Ecosystem: Innovation and legacy
Organized by: IBGC
Date: October 1 and 2, 2018
Venue: WTC Events Center – Golden Hall – Av. das Nações Unidas, 12.551 – São Paulo
Click here for additional information.
Click here to subscribe. Amec’s members are entitled to a 10% discount (use the promotional code ASSOC10).
XV Seminário internacional CPC – Normas contábeis internacionais
XV CPC International Seminar – International Accounting Standards
Organized by: CPC
Date: October 15, 2018
Venue: Amcham Business Center – Rua da Paz, 1431 – Chácara Santo Antônio, São Paulo
Click here to register.
Fórum Diversidade no Conselho
Board Diversity Forum
Organized by: CKZ Diversidade
Date: October 23, 2018
Venue: Radisson Paulista – Alameda Santos, 85, Jardins, São Paulo
Click here for the program.
Click here to register.
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Amec - Associação de Investidores no Mercado de Capitais
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