Amec’s Foreigners Commission
In light of the regional Holiday of Nov 20th, and certain commitments of Amec’s staff, the local Technical Commission originally scheduled for this date was postponed to the first week of December. As a consequence, we decided to move the date of the Foreigners Commission as well, originally sheduled for Nov 26th.

The new proposed date is Monday, December 9th, at 12 noon Brazil time.

Former FED director Randall Krosner to participate in workshop organized by Amec and IBGC
Amec is pleased to invite its members to attend the workshop Turbulência Macroeconômica e Governança Corporativa (“Macroeconomic Turbulence and Corporate Governance”) organized by Amec and IBGC and supported by Vale.

The event, to be held on December 18th at Windsor Atlântica Hotel – Salão Cabo Frio I, II and III, at Avenida Atlântica, 1,020, Copacabana, in the city of Rio de Janeiro, will include a speech from Randall S. Kroszner, Norman R. Bobins, Professor of Economics. The University of Chicago Booth School of Business. Mr. Kroszner was Director of the Federal Reserve System from 2006 to 2009 and Chairman of FED’s Committee of Supervision and Regulation and also the Committee of Consumer and Community Affairs. In these positions, he played a leadership role in the development of responses to the financial crisis and undertaking of new initiatives designed to enhance consumer protection and transparency for credit cards and mortgages. Mr. Kroszner represented the Federal Reserve System in the Committee of Financial Stability and in the Basel Committee on Banking Supervision, in addition to representing the Central Bank’s Directors in the North-American Continent. He chaired the working group of the Organization for Economic Cooperation and Development (OECD), comprised by representatives of Central Banks’ Directors and deputy Ministries of Finance, with the objective of promoting a better balance for international payments. To access his full biography, click here.

Localiza wins Amec Award for its Board of Director’s election practices
Localiza was the winner of the 2nd edition of Amec Corporate Events Award, handed out during the closing session of Amec 6th seminar, held on October 29th, 2013, in São Paulo, and attended by more than 200 participants.

Amec’s letter to SEP emphasizes the importance of having financial statements approved by Boards of Directors
In October, Amec submitted a letter to CVM’s (the Brazilian Securities and Exchange Commission) Superintendent of Relations with Companies inquiring about the need of having quarterly financial statements approved by the Boards of Directors of publicly-held companies.

Entity takes position on the advertising topic to “Ofícios de Alerta” (“Warning Official Letters”)
The Association of Capital Markets Investors reproduces an article published by Valor Econômico newspaper as of July 11th according to which “the Brazilian Securities and Exchange Commission (CVM) has been analyzing the possibility of making warnings sent to the companies public.” In a document submitted to CVM, the entity explains that the topic was discussed in its Technical Commission’s meetings and that the support of foreign members allowed it to study the situation in other countries – with the Chilean case calling great attention because of its high level of transparency.

Amec contributes to CVM’s Public Hearing SDM No 08/13
Amec’s Technical Commission analyzed and discussed the new draft that makes changes to CVM Instruction No. 358 and 480 – Disclosure of Relevant Act or Fact. After being approved by its Advisory Board, the association declared it is in favor of the Brazilian Securities and Exchange Commission’s initiative, pointing out that, in Amec’s opinion, the disclosure of information about relevant acts or facts, not only in widely-circulated newspapers, but also, cumulatively or alternatively, in news portals in the internet, can in some way eventually reduce the knowledge about or reach to such information by investors, reason why it suggests that, when implemented, such change is monitored by CVM.

Humaitá and XP Gestão are Amec’s new members
Amec has been evolving in winning new members and now it counts with Humaitá Investimentos and XP Investimentos as part of its members group.

CODIM publishes Pronouncement about Relevant Information not Disclosed to the Market (Privileged Information)
CODIM – Steering Committee for Disclosure to the Market – presented, in a press conference held on October 31st, its new Guiding Pronouncement (Pronunciamento de Orientação) No. 16 about “Relevant Information not Disclosed to the Market” (Privileged Information).

Survey conducted by USP wants to know investors’ and creditors’ views on financial information disclosed in explanatory notes in the Brazilian market
A survey conducted by the Accounting and Actuarial Department of the Economics, Administration and Accounting College from University of São Paulo (USP) wants to know details about financial information published in explanatory notes. The survey, now in the gathering data stage, is aimed to analyze whether explanatory notes to the financial statements of Brazilian publicly-held companies traded at BM&Fbovespa and prepared according to the International Financial Reporting Standards (IFRS) comply with their major objective, that is, to provide the Brazilian capital market’s investors and creditors with useful information.
CVM’s Investor Education and Financial Behavior Conference
Date: December 10th and 11th
Hour: 9 am to 5:30 pm
Venue: Windsor Atlântica Hotel – Avenida Atlântica, 1,020, Copacabana - Rio de Janeiro
Price: free


15th Abrasca Annual Report Award
Date: November 28th
Hour: 10 am to 1:30 pm
Venue: BM&FBOVESPA Hall, Rua XV de Novembro, 275 – 1º andar – São Paulo
Abrasca’s members – R$ 300.00
Amec’s members – R$ 450.00
Non members - R$ 800.00

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