CAF – Comitê de Aquisições e Fusões, the self-regulatory organization for tender offers and corporate restructuring transactions in Brazil, signs cooperation agreement with Previc
The entities signed a technical cooperation agreement to foster the capital markets and the complementary pension fund system
São Paulo, February 27, 2019 – CAF, the Brazilian Takeover Panel and Previc, the National Superintendency for the Complementary Pension Fund System, signed a cooperation agreement aimed at promoting and fostering the capital markets and the private complementary pension fund system, known in Brazil as EFPCs.
The agreement is aimed at promoting the best corporate governance practices applicable to tender offers and corporate reorganization transactions involving listed companies that are part of the equity portfolios of EFPCs. The cooperation also seeks to provide support for the elaboration of norms and regulations by Previc and for the exchange of information between both entities.
“The celebration of this agreement is important for several reasons. It signals that Previc is focused on the best governance practices of the companies invested by private pension entities, especially as concerns corporate reorganizations and tender offerings. It is also an important opportunity for CAF, further recognizing the organization as a relevant mechanism to ensure that the best practices are being adopted in transactions carried out in our market”, states CAF Panel Chair, Otavio Yazbek.
“The partnership contributes with the strengthening of governance practices in the private pension sector by enhancing dialogues with relevant capital market players that have a vast experience in the matter”, highlights Fábio Coelho, Superintendent Director of Previc.
CAF is a private, experienced and agile voluntary self-regulatory body whose objective, among others, is to ensure fair and/or equal treatment among shareholders in tender offers and corporate reorganization transactions involving listed Brazilian companies. The panel is composed of 11 members with recognized experience and deep knowledge of matters concerning the financial and capital markets. The panel counts with technical and administrative support from ACAF, a non-profit association composed by ANBIMA, the Brazilian Association of Financial and Capital Market Entities (Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais), B3 – Brasil, Bolsa, Balcão, and IBGC, the Brazilian Institute of Corporate Governance (Instituto Brasileiro de Governança Corporativa).
Additional information is available at www.cafbrasil.org.br.
Previc is the federal authority responsible for supervising the activities and operations of private complementary pension funds. It recently carried out a public consultation regarding detailed principles, rules, governance, management and internal control practices to be observed by pension funds.
Additional information is available at www.previc.gov.br.
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Vanessa Brenneke, Daniel Sonder, member of Administrative and Supervisory Board of ACAF, Otavio Yazbek, Patricia Herculano, Chairwoman of Administrative and Supervisory Board of ACAF, Fabio Coelho, Superintendent Director of Previc and Alberto Kiraly, Executive Director of CAF
Photo: Cibele Barreto