October 1, 2001
Headquarters of Sao Paulo's Federation of Industries: Corporate Brazil has had to compromise with investors
to accomodate their interests.
To the surprise of almost everyone, the Brazilian Senate approved in September long-delayed legislation strengthening minority investor rights and increasing the powers of the country's toothless securities regulator. The law consumed four years of often furious debate and investors believe it signals a fundamental change in Brazil's capital markets. The bosses of Brazil's major companies, who had benefited from the previous arrangement, are less happy. They cla
After four years of debate, Brazil's Congress finally approved a minority investor rights law that seeks to balance the interests of all shareholders in publicly traded companies.