Relevant Facts - October 2015 Send to a friend
Amec Opinion - The ball is in our court

Brazil will start to change in 2016. No, we are not saying that, as if by magic, we have a solution for the dramatic political situation we find ourselves in today. The change we are talking about has already been agreed. It’s related to the new regulation – the Instruction 561 - on distance voting approved this year by the Brazilian Securities and Exchange Commission (CVM) to take effect in the 2016 season of shareholders’ meetings.

We are not overstating. The regulation - to be detailed herein - that facilitates the participation in shareholders’ meetings can eventually revolutionize the ability of investors to exercise their role in the corporate governance of Brazilian companies and, accordingly, improve and make them more competitive and profitable. But for that, some conditions should be observed.

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The meetings of the Association of the Capital Market Investors to take place in October – for members only – are confirmed as follows:

Technical Commission – November 18th, at Amec’s headquarters in São Paulo, with remote access.
Foreigners Commission – November 24th, via conference call.

Management Board and Board of Directors – November 5th, at Amec’s headquarters, in São Paulo.

Confirmations of attendance must be submitted to

Click here to access the association’s annual calendar of meetings.

    Amec participates in two panels in ICGN Conference    

The CEO of the Association of Capital Market Investors, Mauro Rodrigues da Cunha, represented Amec in the mid-year event of the International Corporate Governance Network (ICGN). ICGN is an organization of investors and interested parties responsible for assets under management in excess of $18 trillion USD.

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    Network of associations discusses Stewardship priorities and codes    

The Global Network of Investor Associations (GNIA) met after ICGN event. During the meeting, the participating associations discussed their priorities for the next months in line with ICGN’s objectives.

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    Association requests Minister Joaquim Levy to review the taxation of dividends distributed by funds    

On September 25th, Amec – the Association of Capital Market Investors – requested the Ministry of Finance, Joaquim Levy, to review the new Normative Instruction RFB No. 1585/15, specifically about the government’s decision of taxing the direct distribution of dividends to quota holders by investments funds.

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    Amec requests the CVM to consider the control premium a “risk event”    

Amec – the Association of Market Investors – sent to the CVM – the Brazilian Securities and Exchange Commission – an official letter on September 25th, requesting the regulatory agency to include the control premium as a risk event in its Risk-Based Supervision System. The objective of Amec is that the topic is duly tracked as the Association believes that many transactions “are based on the premise of expropriation of minority shareholders.”

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    IBGC supports Amec’s request for Transparency in Management Compensations    

The Brazilian Institute of Corporate Governance (IBGC) has publicly supported the request made by the Association of Capital Market Investors that listed companies do not turn to the injunction obtained by the Brazilian Institute of Finance Executives (Instituto Brasileiro de Executivos de Finanças - IBEF Rio de Janeiro), which allows them to refrain from disclosing their management compensation as required by the Brazilian Securities and Exchange Commission (CVM).

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    Amec contributes to Public Hearing about self-regulation    

Amec’s member Felipe Claudino, from Leblon Equities, represented the Association of Capital Market Investors in the Public Hearing about the self-regulation of the Brazilian capital markets of the Commission of Economic Development, Industry and Trade, held in the House of Representatives on October 15th.

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    BM&FBOVESPA introduces “Programa Destaque em Governança de Estatais”    

On September 30th, the Brazilian Stock Exchange - BM&FBOVESPA - introduced the Programa Destaque em Governança de Estatais - Destaque Estatal. The event was graced with the presence of the CEO of BM&FBOVESPA, Mr. Edemir Pinto, and representatives of the capital market.

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    IBGC starts public hearing about Guidelines for Corporate Governance Secretary    

The draft of the Guidelines for Corporate Governance Secretary, a result of a three-year analysis carried out by IBGC’s Commission of the same name, is available for on-line public hearing. The institute expects to receive important feedback from its diverse stakeholders and members, to be considered in the preparing of the final version of the document. Contributions can be sent by October 30th 2015.

    16th edition of IBGC’s Congress of Corporate Governance    

Organized by IBGC – Brazilian Institute of Corporate Governance
Date: November 16th and 17th, 2015
Venue: Sheraton WTC São Paulo – São Paulo - SP
Information: – (55 11) 3477.1646
Fees: members – R$ 2,680.00; non-members – R$ 3,570.00
Information: – (55 11) 3477.1646
Click here to register.

    2nd Brazilian Congress on Venture Capital    

Organized by ABVCAP – Brazilian Association of Private Equity & Venture Capital
Date: November 5th
Venue: Rooftop 5 & Centro de Convenções in Complexo Ohtake Cultural - Rua Coropés, 88 – Pinheiros – SP
ABVCAP members – R$ 500.00
Amec members – R$ 600.00
Others – R$ 750.00
Information: (55 11) 3107.5557
Click here to register.

    Workshop on Stock Options    

Organized by Capital Aberto magazine
Date: November 5th, 2015
Hour: 8 am to 12:30 pm
Venue: Saint Paul – Escola de Negócios – Rua Gomes de Carvalho, 1353 – Vila Olímpia – São Paulo – SP
Fees: subscribers – R$ 480.00 and non-subscribers – R$ 745.00 (valid by November 20th)
Click here to register.

    XII CPC International Seminar – International Accounting Standards    

The Committee of Accounting Pronouncements – CPC – will be holding the “XII CPC INTERNATIONAL SEMINAR – INTERNATIONAL ACCOUNTING STANDARDS" in Renaissance Hotel (Alameda Santos, 2.233 – Jardim Paulista – São Paulo), from 8 am to 6 pm, on November 9, 2015 (Monday), as part of the committee’s program of continued education and sustainability. The event is organized by FACPC – Supporting Foundation to the Committee of Accounting Pronouncements.

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