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Market associations criticize RFP for political interference with regulators

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Market associations criticize RFP for political interference with regulators

Photo: Mariakrai/Pixabay

Organizations that work in the corporate and capital investment market issued this Wednesday, the 14th, a document expressing refusal to the changes that Bill 2.896/2022 suggest Lei 13.303/2016, law on public companies; and to art. 8-A of Law No. 9986 (Regulatory Law). The changes make the investing of positions of administrators of state companies and directors of regulatory bodies more flexible, allowing, according to the subjects, the interference of political parties in these collegiate bodies. The text has Congress is expected to vote next week.

According to organizations, Law 13.303/2016 was the result of a long legislative process, with the interaction of civil society, and represented significant progress in the corporate governance of federal, state and municipal state-owned companies and in the adoption of protection against the risk of capture by party-political interests. These interests are said to have spawned infamous cases corruption, inefficiency in the distribution of public resources and serve selective and private purposes to the detriment of the purposes for which the companies were created.

The damage from unjustified political and party interference damages the state treasury and the quality of services and products supplied to the population, industry structures note. “Such interference negatively affects the Brazilian business environment, endangering the development of the country and the mitigation of existing social inequalities,” the document, published this Wednesday, January 14, says.

Organizations also remind that the standards introduced by the 2016 text are in line with recommendations from national and international sources. including governance guidelines for public enterprises as well as Organization for Economic Cooperation and Development (OECD) and that alignment with these standards is one of the steps envisaged in the process of Brazil’s accession to the OECD, which has already publicly acknowledged that the boards of directors of federal state-owned companies have increased their independence from party-political interference due to the obstacles established by the Law on State Companies .

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“The OECD recommended that Brazil go beyond the achievements already made and pursue improvements such as (i) expanding the requirements and prohibitions for all committees of the board of directors and the financial board, (ii) effectively giving the board of directors the power to appoint and dismiss CEOs of state-owned companies, and ( iii) improving the rules and procedures for the appointment and appointment of directors of these companies,” they say.

Finally, the organizations that signed the manifesto hope and believe that the external control bodies and the judiciary itself will fulfill their duties in a timely manner, checking and punishing those responsible for deviations from the legal norms and management systems of state-owned companies and companies that control bodies. . Members of the executive and legislature must act to preserve Law 13.303/16, resisting any attempts at unlawful changes that lead to failure.

The document was signed by the Capital Market Investors Association (Amec); Association of Analysts and Investment Professionals of the Brazilian Capital Market (Apimec Brasil); Brazilian Institute of Corporate Governance (IBGC); Brazilian Institute of Commercial Law and Ethics (IBDEE); Institute for No Acceptance of Corruption (INAC); and the Institute for Business Ethos and Responsibility.

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Politics

The dollar continues to reflect the political scenario

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The dollar continues to reflect the political scenario

Yesterday, financial agents evaluated the opposite decision of the Federal Supreme Court (STF) regarding the so-called secret budget. In addition, a decision was made by STF Minister Gilmar Méndez to issue an injunction that would exclude the Bolsa Família from the spending cap rule, with investors trying to understand how this measure would affect the processing of the transitional PEC in the Chamber of Deputies. Oh this PEC!!!!

Since he is an exchange investor, any reading that the budget will be exceeded or become more flexible will negatively affect the exchange market, whether through the PEC or in any other way. We will continue with volatility today.

Looking beyond, the US Central Bank (Fed), although slowing down the pace of monetary tightening at its December meeting, issued a tougher-than-expected statement warning that its fight against inflation was not yet over, raising fears that rising US interest rates will push the world’s largest economy into recession.

The currency market continues to react to political news. The voting on the PEC is saved for today. It is expected that it will indeed be reviewed to open the way tomorrow for discussions on the 2023 budget.

Yesterday, the spot price closed the selling day at R$5.3103.

For today on the calendar we will have an index of consumer confidence in the eurozone. Good luck and good luck in business!!

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Andrés Sánchez consults with the Ministry of Sports, but refuses a political post.

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Goal.com

The former president of the Corinthians dreams of working for the CBF as a national team coordinator. He was consulted shortly after Lula’s election.

Former Corinthians president Andrés Sánchez was advised to take a position in the Ministry of Sports under the administration of Lula (PT). However, he ruled out a return to politics. dreams of taking over the coordination of CBF selectionHow do you know PURPOSE.

No formal invitation was made to the former Corinthian representative, only a consultation on a portfolio opportunity with the new federal government, which will be sworn in on January 1, 2023.

Andrés was the Federal MP for São Paulo from 2015 to 2019. At that time he was elected by the Workers’ Party. However, the football manager begs to stay in the sport, ruling out the possibility of getting involved in politics again.

Andrés Sanchez’s desire is to fill the position of CBF tackle coordinator, which should become vacant after the 2022 World Cup. Juninho Paulista fulfills this function in Brazil’s top football institution.

The former president of Corinthians was in Qatar to follow the World Cup along with other figures in Brazilian football. During his time in the country, he strengthened his ties with the top leadership of the CBF.

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The EU has reached a political agreement on limiting gas prices – 19.12.2022

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Germany sentenced Russian to life imprisonment for political murder by order of Moscow - 12/15/2021
BRUSSELS, DECEMBER 19 (ANSA). European Union countries reached a political agreement on Monday (19) to impose a natural gas price ceiling of 180 euros per megawatt hour (MWh). The main sources of income for Russia and the minimization of the use of energy as a weapon by the regime of Vladimir Putin.

The agreement was approved by a supermajority at a ministerial meeting of member states in Brussels, Belgium, after months of discussions about the best way to contain the rise in natural gas prices in the bloc caused by Russia’s invasion of Ukraine. .

The value set by the countries is well below the proposal made by the European Commission, the EU’s executive body, in November: 275 EUR/MWh. However, the countries leading the cap campaign were in favor of an even lower limit, around 100 EUR/MWh.

Germany, always wary of price controls, voted in favor of 180 euros, while Austria and the Netherlands, also skeptical of the cap, abstained. Hungary, the most pro-Russian country in the EU, voted against.

The instrument will enter into force on 15 February, but only if natural gas prices on the Amsterdam Stock Exchange exceed 180 euros/MWh for three consecutive days. In addition, the difference compared to a number of global benchmarks should be more than 35 euros.

Italy, the EU’s biggest supporter of the ceiling, has claimed responsibility for the measure. “This is a victory for Italy, which believed and worked for us to reach this agreement,” Environment and Energy Minister Gilberto Picetto tweeted.

“This is a victory for Italian and European citizens who demand energy security,” he added.

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Currently, the gas price in Amsterdam is around 110 EUR/MWh, which is already a reflection of the agreement in Brussels – in August the figure even broke the barrier of 340 EUR/MWh.

However, Russia has already threatened to stop exports to countries that adhere to the ceiling. (ANSA).

See more news, photos and videos at www.ansabrasil.com.br.

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