BMFBovespa-MervalNEXT: Autoreg to Take Effect

Valor Online: In 90 days, a new autoregulation scheme for the BM&F-Bovespa goes into effect.

I gistlate — translate a little here, gist a list there — the brief item, although I am sure you probably already read about it from Mondo Visione.

The self-regulator, not dissimilar to NYSE Regulation, is known as the BSM, or BM&F-Bovespa Makret Supervisor.

On May 10, new rules go into effect for companies listed in the Level 1, Level 2, and Novo Mercado listing segments, for companies meeting differentiatd governance requirements, of the Bovespa stock exchange

The reform took two years to negotiate and was partially approved late last year. The Comissão de Valores Mobiliários (CVM) approved the changes in its March 21 meeting, with one demurrer.

Listed companies now have 90 to hold extraordinary shareholder meetings in order to enact the necessary changes to their corporate charters.

Among the new rules:

1. No one may serve as CEO and Chairman of the board simultaneously;
2. Publication of a trading policy for the company’s shares;
3. Creation of a corporate code of conduct

The CVM asked the Bovespa to isseu a public clarification of Article  8.2 of the new regulatory framework, which deals with the acquisition of the company by means of an accord with the company’s controlling shareholder. The Bovespa said it would comply “in a timely fashion.”

I will read over the new rules when I get a chance.

Dilma: General Elito Is Not Glad Not to Meet You

Elito in Haito: basking in the glow of democracy restored.

Ricardo Noblat of O Globo underscores that one odd thing about Brazil that makes it so much less like home: it used to be run by generalissimos funded by your tax dollars.

Before it is exactly what  Dilma Rousseff means to do with the Agência Brasileira de Inteligência, or ABIN, the so-called “intelligence community,” she is already headed for a showdown with General José Elito, head of the presidential security office, or GSI.

Since its creration in 1999, Abin has been an office of the GSI. The straw that broke the camel’s back was Gen. Elito’s insistence on reading all intelligence product before its release.

The general’s decision to do away with the Counterterrorism Department, created in 2008 when Paulo Lacerda [briefly] led the agency, he has broadened the institutional crisis already surrounding the GSI and the association of intelligence officers, AOFI.

The association of officers requested a meeting for  27 January and were received by three employees of the President’s Office, further irritating Gen.. Giles Azevedo, head of the President’s Office, who was not even present.

In a letter to the president, the “intelligence community” asks that Abin not be subordinated either to military or to police authority. In a pun on the title of the hit film, the Abin men called themselves the “Elito Squad”.

AOFI asks that the agency answer directly to the federal chief executive.

Like our glorious CIA.

“We asked that Abin answer to civil authority, given that we are career public servants of a civilian agency,” said an AOFI spokesperson. He asked that the name ABIN be retained to honor its record of service.

Diebold in the Tropics: Stray Voting Machine Falls Off a Truck

The Brazilian TSE’s voting machine simulator (requires Java)

The Última Instância (Brazil) legal news service reports:

• TRE-SP diz que urna encontrada por pedestre ainda não pertencia ao tribunal

The state elections authority of São Paulo says in a press release that a voting machine found in the street by a passerby was not one of theirs and no one knows how it ended up falling off a truck.

O TRE-SP (Tribunal Regional Eleitoral de São Paulo) emitiu nota por meio de sua assessoria para informar que a urna eletrônica (modelo 2008) encontrada dentro de uma caixa na manhã desta quinta-feira (7/8), por um pedestre na avenida Condessa Elisabeth de Robiano, 950, próximo à avenida Salim Farah Maluf, no Belém, em São Paulo, estava sendo transportada pela Diebold Procomp Indústria Eletrônica Ltda. e ainda não pertencia a Justiça Eleitoral.

… the 2008 model electronic voting machine found in a box on Thursday morning by a pedestrian on Av. Condessa Elisabeth de Robiano, near Av. Salim Farah Maluf, in the Belém neighborhood of São Paulo, was being transported by Diebold Procomp Industria Electronica Ltda and was no longer the property of the elections authority.

Segundo o tribunal, a Diebold foi contratada para confeccionar urnas eletrônicas após vencer licitação feita pelo TSE (Tribunal Superior Eleitoral).

The state elections authority (TSE-SP) said that Diebold was hired to manufacture electronic voting machines after submitting a winning bid to the federal elections authority (TSE).