Corporate
The reporting is mandatory to those holding assets abroad amounting to or exceeding the equivalent to US$100,000 on December 31, 2019
No obligation to suspend activities ancillary to essential activities: an analysis of the impacts of Federal Decree No. 10,282/20
Learn about the main changes to the rules for complying with legal obligations and the new deadlines for submitting documents or information in the 2020 fiscal year.
Considering the economic crisis caused by the coronavirus pandemic, could companies that recorded profits in 2019 legitimately retain dividends to be earmarked to shareholders in order to avoid impact on cash flows?
The arrangement for services at boards of trade in São Paulo and some other Brazilian states due to the covid-19 pandemic.
Both the Brazilian Corporations Law and CVM Instruction 481 allow publicly-held companies to implement means in order to hold their ordinary shareholders’ meetings remotely. What challenges such change represent for companies?
Executive Order No. 892/19 (MP 892), which substantially changed the framework for legal publications by corporations, expired on December 3rd. Essentially, MP 892 had extinguished the obligation to publish corporate acts in official gazettes and widely circulated print newspapers, pursuant to Law No. 6,404/76 (the Brazilian Corporations Law). These publications would be done only by electronic means, which would reduce costs and bureaucracy related to companies’ administrative and corporate routine.
To regulate the application of Executive Order No. 892/19 (MP 892), which amended Law No. 6,404/76 (the Brazilian Corporations Law) with respect to the publication of acts and information of corporations, in September, the Brazilian Securities and Exchange Commission (CVM) and the Ministry of Economy issued new rules, respectively, on publicly and privately-held companies effective beginning in October.
Today is the last day of the deadline for submitting suggestions at the public hearing of the Brazilian Securities and Exchange Commission (CVM) regarding changes in the minimum percentages of equity participation for a shareholder of a corporation to file a lawsuit against the officers and directors[1] and the parent company[2] without the provision of collateral.
With the enactment of the Economic Freedom Law (Law No. 13,874/19), which establishes the Declaration of the Rights of Economic Freedom and whose purpose is to establish free market guarantees, new rules have been in place since September 20 which should simplify the daily life of Brazilian businessmen and reduce bureaucracy in the Brazilian business environment.
After months of intense debate between the Executive and Legislative Branches, Civil Society, and market players, the Economic Freedom Executive Order (Executive Order No. 881, of April 30, 2019) was finally converted into law on September 20 (Law No. 13,874/19), effective immediately. In order to reduce the day-to-day bureaucracy for Brazilian entrepreneurs, to establish free market guarantees, and to provide greater legal certainty for Brazil's business environment, the new law promotes changes in various areas of law, including civil, administrative, company, corporate, and labor law.
