Relevant Facts - September 2014 Send to a friend
Amec Opinion – Accountable

Of the species that inhabit Boards of Directors, there are two that are probably the most pernicious ones: the “accomplice” and the “dodger.”

The accomplice is the one who agrees with everything. He or she arrives at the meeting, not necessarily having read the background materials, and nods to everything others say. In fact, whether he has previously read the material or not is irrelevant once he will agree with every single proposal. The CEO’s and the Chairman’s words sound like the proverbial siren song to his ears, leading to an uncontrollable desire to say yes, even if the ship is heading for the rocks. Occasionally, he suggests a compliment or a vote of praise. And seldom, he splutters some soundbites to show he is not sleeping.

Read more
    Confirmation of October meetings    

Amec (the Association of Capital Market Investors) meetings – only for members - are confirmed as follows:

Technical Commission – October 15, at Amec’s headquarters in São Paulo, with remote access.
Board of Directors – October 23, at Amec’s headquarters in São Paulo.
Amec members are also invited to a cocktail reception on October 23rd, immediately after the board meeting, to celebrate the 8th anniversary of the Association.

Confirmation of attendance must be submitted to

    Amec and IBGC launch new course on Corporate Governance for Investors    

The first edition of the new Corporate Governance for Investors course, initiative conceived and organized through a partnership between Amec – Brazilian Association of Capital Market Investors – and IBGC – Brazilian Institute of Corporate Governance – will take place on October 22, 24, 29 and 31, in São Paulo.

Good corporate governance practices are not constrained to a company’s walls. Owners play an essential role in structuring the “checks and balances” that make governance processes much more efficient.

With the growing institutionalization of private savings, investment managers have become increasingly important as part of this process.

The course offers a view on corporate governance practices especially directed at this audience. The topics were selected to fully complement the profiles of today’s investment managers with a view to qualifying them to become efficient agents in the building of governance.

The course, a four-hand work prepared by Amec and IBGC, brings an essential aspect that maximizes its adjustment to the target audience.

Amec and/or IBGC members - R$ 2,000.00
Others - R$ 3,000.00

HSBC Auditorium
Avenida Brigadeiro Faria Lima, 3064, 1º andar – São Paulo – SP

Click here to register.

    Amec criticizes tariff deferral granted to electric and sanitation utilities    

On September 3, Amec (the Association of Capital Market Investors) published public letters about its position on the tariff deferral requested by Copel (Companhia Paranaense de Energia), CEB (Companhia Energética de Brasília), and Sabesp (Companhia de Saneamento Básico do Estado de São Paulo) and granted by their respective regulatory bodies.

    Read more    
    After eight years, Walter Mendes leaves Amec to take on CAF’s management    

Diretoria da Amec se despede de Walter Mendes
Amec’s Executive Board says goodbye to Walter Mendes

In a meeting of Amec’s Executive Board, held last August 29, the entity’s vice president, Walter Mendes, resigned from his position in the association to join the Executive Board of CAF - the Brazilian Takeover Panel.

    Read more    
    Pablo Renteria is nominated to CVM’s Executive Board    

The President Dilma Roussef has nominated the Law professor Pablo Waldemar Renteria for the position of Director of the Brazilian Securities and Exchange Commission (CVM), which has been vacant for nine months, since the end of Otavio Yazbek’s term in office, in the end of 2013. The nomination was announced on September 5; now the candidate will have to be assessed in the National Congress.

    Read more    
    IBGC revises its Governance Code    

In the midst of important changes in the Corporate Governance environment, IBCG (the Brazilian Institute of Corporate Governance) will be revising its main document: the Code of Best Practices in Corporate Governance. Published for the first time in 1999, the Code will undergo its forth revision.

    23rd Apimec Congress opens registrations for “Concurso de Artigos”    

Online registration available at

Apimec (the Association of Capital Market Analysts and Investment Professionals) Congress is held every two years in the capital cities that host Regional Apimecs. This year’s edition will take place in the city of Porto Alegre (State of Rio Grande do Sul), at Centro de Eventos Plaza São Rafael, on December 1 and 2. Traditionally, the event includes an Academic Article Competition aimed to foster scientific research and production in the Financial and Capital Market sphere.

    Read more    
    39th IOSCO – RIO DE JANEIRO 2014 Annual Conference    

Date: September 28 to October 2, 2014
Organized by: CVM – Brazilian Securities and Exchange Commission
Venue: Windsor Barra Hotel - Avenida Lúcio Costa, 2360, Barra da Tijuca - Rio de Janeiro – RJ

Category Registration fee
Non Members – Public Panels + Exhibition Area + Gala Dinners | October 1 and 2 - No longer available R$ 2,730.00 *
Ordinary IOSCO Members R$ 4,244.50 *
Associate IOSCO Members R$ 4,244.50 *
Affiliate IOSCO Members R$ 5,304.00 *

IOSCO Member’s Companion(s) Social Events/Dinners Only
(September 28 to October 2)

R$ 2,691.00 *
IOSCO Member’s Companion(s) – Guided Day Tours + Social Events/Dinners
(September 28 to October 2)
R$ 2,960.10 *

* Prices in Brazilian Reais

Information and registration:

    1st Abrasca Meeting on the Law of Listed Companies    

Date: October 29, 2014
Organized by: Abrasca
Venue: BM&F Bovespa auditorium, Rua XV de Novembro, 275, 1º andar, São Paulo – SP
Abrasca members – R$ 650.00
Amec members – R$ 1,425.00
Others – R$ 1,750.00
Information and registrations:

    XI CPC International Seminar of International Accounting Standards    

Date: November 24, 2014
Organized by CPC and FACPC
Venue: Hotel Renaissance São Paulo - Alameda Santos, 2.233 – Jardim Paulista – São Paulo – SP

Category By Sept 30, 2014 By Nov 11, 2014
Teachers and students R$ 380.00 R$ 400.00
Members of entities associate to CPC* and sponsors’ collaborators R$ 570.00 R$ 600.00
Amec members R$ 760.00 R$ 800.00
Others R$ 1,235.00 R$ 1,300.00

* ABRASCA (Brazilian Association of Publicly-Held Companies), APIMEC (Association of Investment Analysts and Professionals of the Capital Market), BM&FBOVESPA (Brazilian Securities, Commodities and Future Exchange Commission), CFC /CRCs (Federal Accounting Council/Regional Accounting Councils), FIPECAFI (Accounting, Actuarial and Financial Research Institute Foundation), and IBRACON (Brazilian Institute of Independent Auditors).
Information and registrations: Leandro F. de A. Pellizzaro, (55 11) 3628-8882 /

If you don't want to receive our emails, remove here.