Proxy solicitation and shareholder director nominations in Brazil: a comparative analysis of instrução CVM n. 481/2009
DOI:
https://doi.org/10.11606/issn.0102-8049.i155/156p76-104Palavras-chave:
Proxy solicitation, Shareholder director nominations, Brazil, Instrução CVM n. 481/2009Resumo
I. Introduction: 1.1 The Brazilian market: a history of concentrated control
under transformation; 1.2 Instruca'o CVM n. 481/2009: regulatory anticipation to a changing scenario; 1.3 Art. 28 of instrução CVM n. 481/2009 and
the shareholders' right to indicate directors; 1.4 The SEC's proposed rule
on facilitating shareholder director nomination: a comparative approach. 2
Analysis: 2.1 Brazil and the US.: fundamental differences regarding proxy
solicitation; 2.2 The shareholders' right to indicate nominees to the board
of directors; 2.3 Requirements; 2.4 Procedures; 2.5 Costs; 1.6 Access as default? The opt-in, opt-out dilemma; 2.7 Pros and cons offacilitating shareholder director nomination. 3 Conclusions: 3.1 What lessons should Brazil learn
from the U.S. public reflections on the subject?; 3.2 Avoiding piggybacking:
what lessons should Brazil not learn from the US. experience. Bibliography.
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