Invest in Brazil

A recent shift in Brazil’s capital market regulation took center stage in the latest episode of the "Invest in Brazil" podcast, hosted by Amec CEO Fábio Coelho. 

In late May 2026, the Brazilian Securities and Exchange Commission (CVM) reversed course by making the adoption of global ISSB standards (IFRS S1 and S2) voluntary rather than mandatory for 2027.

The change addresses implementation concerns and gives issuers greater flexibility. Investor concerns focus on the broader effects, with less comparable information, weaker incentives for companies to improve reporting, and more uncertainty around the regulatory path. 

The episode looks at why this decision is widely seen as a step backward for Brazil’s capital markets.

Fábio Coelho, Amec's CEO, discusses a sector that often operates behind the scenes but plays a crucial role in the Brazilian economy: the pension fund industry.

This is an industry that manages significant resources, touches the lives of millions of workers and retirees, and is currently undergoing a profound transformation. 

Fábio Coelho, Amec's CEO, discusses the attempted reform of the Novo Mercado, a segment of B3 that brings together companies with the highest standards of corporate governance in Brazil.

Fabio Coelho, Amec's CEO, presents a short audio brief to provide context on the B3's public hearing to revamp Novo Mercado,  the benchmark for corporate governance in Brazil.

Key Proposals:
▪️ Suspension of companies in severe cases before enforcement processes.
▪️ Clawback rules on executive compensation for fraud or poor performance.
▪️ Making audit committees statutory bodies and requiring integrity policies.
▪️ Increasing the number of independent directors on boards.
▪️ Addressing overboarding requirements to prevent excesses.

These changes address issues from the Americanas scandal and align with global best practices.

Amec is gathering feedback to submit to B3 by August 2024.

Fábio Coelho, Amec's CEO, and Teresa Barger, co-founder and CEO of Cartica Management , discuss about  related-party transactions, or RPTs, and how they have risen above all others as a consistent source of controversy and concern for investors in Brazil. 

Fábio Coelho, Amec's CEO, and Eduardo Figueiredo, Head of Brazilian Equities at abrdn, discuss about Super-voting shares, a worldwide source of controversy that made it to Brazil.

Fábio Coelho, Amec's CEO, and Gustavo Ribeiro, editor-in-chief and founder of The Brazilian Report, discuss about Amec's legacy on Corporate Governance, Minority Shareholders support in Brazil, and future projects.

IPO boom in Brazil with Geraldo Affonso Ferreira

In this episode, Fábio Coelho and Geraldo Affonso Ferreira discuss the importance of corporate governance best practices for new entrants in capital markets.

In this first episode, Fábio Coelho and Mike Lubrano discuss the launch of the Brazilian Stewardship Code and the culture of engagement between investors and companies in Brazil.

The Brazilian Stewardship Code is the result of a partnership between Amec and CFA Society Brazil.