Change project in the SA law provides for greater protection from investors

is being processed in the National Congress No. 2,925/2023, which aims to change devices Law 6.404/1976 (Law of Corporations). The project aims to increase the protection of minority investors in the capital market for illicit acts caused by controlling shareholders and administrators. One of the important changes that the project suggests is to enable injured minority shareholders to file collective actions rather than limiting themselves to individual processes.

Currently, shareholders have the right to move liability against administrators who have caused losses, provided they represent 5% of the share capital or 50 million shares. However, the project aims to reduce the percentage to 2.5% of capital, maintaining the alternative value of 50 million shares.

In addition, the current law stipulates a 5% prize of the amount of compensation requested, to be granted to the plaintiffs. However, the project proposes that the award be substantially increased to 20%. Another relevant change in the project is that arbitration related to corporate issues of publicly open companies should not be confidential, so that the Securities Commission (CVM) would be defined when confidentiality could be granted. >

Thus, the objective of the project is to ensure the advance of the protection of capital market investors, aligning Brazil with international standards of excellence.