New Sheriff in Town
Marcelo Trindade, the new president of the Comissão de Valores Mobiliários, promises to put some bite into Brazil's toothless securities regulator.
Marcelo Trindade took over the top job at the CVM, Brazil's
securities commission, in July after his predecessor Luiz
Leonardo Cantidiano quit under a cloud. The head of the CVM is
often called the xerife - the sheriff - because he is
expected to be honest and clean up a lawless market but usually
winds up in Boot Hill Cemetery. Trindade, who just turned 40,
is the agency's third boss since 2000.
Trindade knows the CVM well. He was a director there between
2000 and 2002. As a corporate lawyer, he also knows capital
markets from the issuer's perspective. His appointment was
welcomed in the markets, where he is seen by most as an
independent-minded, professional technocrat. He will serve out
the remainder of Cantidiano's five-year term, and the three
years Trindade has in the job - if he lasts - will
cover a crucial period for the CVM...
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