GT Interagentes publishes guidance document for directors

In October, the GT Interagentes launched the guidance document “The Responsibility of Directors and the Duty of Care,” prepared and signed by the 11 representatives of the entities that are members of Grupo de Trabalho Interagentes (GT Interagentes).
“Unfortunately, not all directors duly understand the responsibilities imposed to them by the law and, even when they understand them, they do not know how to act to meet their legal and statutory duties,” explains Richard Blanchet, one of the document’s authors.
GT Interagentes seeks to lead the debate about the development of the local capital market and drive long-term private investments with a view to increasing the competitiveness of the Brazilian economy. Once each member entity has its own agenda of initiatives, GT Interagentes offers a forum for the building of a common agenda with a view to being an interlocutory channel with all governmental spheres, companies and the society. The guidance document is the result of this joint effort and reflects the view of the 11 member entities about the topic (ABRAPP [Brazilian Association of Pension Funds], ABRASCA [Brazilian Association of Publicly-Held Companies], ABVCAP [Brazilian Association of Private Equity & Venture Capital], AMEC [Association of Capital Market Investors], ANBIMA [Brazilian Association of Entities of the Financial and Capital Markets], APIMEC [Association of Investment Analysts and Professionals of the Capital Market], BMF&BOVESPA[Brazilian Securities, Commodities and Future Exchange Commission], BRAIN [Brazil Investments & Businesses], IBGC [Brazilian Institute of Corporate Governance], IBMEC [Brazilian Institute of Capital Markets], and IBRI [Brazilian Institute of Investors Relations], in addition to the participation of BNDES (Brazilian National Bank for Social and Economic Development) and CVM [Brazilian Securities and Exchange Commission] as observers).
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