The CVM's new perspective that the controlling shareholder or any other shareholder may vote in meetings where there is a conflict of interest, as long as in good faith and in the certainty that the operation does not favor them and is liable to be annulled, is dividing specialists. However, there is a convergence that changes in understanding create insecurity for the market. Since 2010, the CVM had assumed that there was a priori impediment, but this has changed since last Tuesday.

Our partner Julian Chediak talked to the newspaper Valor Econômico about the matter and explained that the thesis that now prevails tends to give more security to the market. He states: “The rules of the game are stipulated. To say that the minority is better protected [with the adoption of the formal conflict] is a misconception. On the other hand, our partner agreed that changes in the collegiate understanding from time to time are bad for the market.

Read the full article at the link: https://valor.globo.com/financas/noticia/2022/08/19/mudancas-de-entendimento-sobre-conflito-de-interesses-criam-incerteza.ghtml