What are the most important factors to consider when communicating with Brazil’s capital markets?
One aspect of disclosure in Brazil is that what is considered full disclosure consists first of filing information with the CVM and BM&FBovespa. At the same time, this information is disclosed to the market by means of communications channels such as the news agencies and the wire systems. This is clearly intended to guarantee what I believe are the most important aspects of communication between companies and the market: timeliness and equal access to information. Other characteristics of almost equal importance are the objectivity and clarity with which the information is disclosed and the transparency with which facts and events are treated.
