Brazil Congress proposes market regulations after Americanas scandal

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BRASILIA (Reuters) - Federal lawmakers in Brazil suggested several measures to boost accountability in the financial market, a report showed on Monday, ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBRASILIA - Federal lawmakers in Brazil suggested several measures to boost accountability in the financial market, a report showed on Monday, after retailer Americanas this year revealed a multi-billion-dollar fraud.

The report comes weeks after the committee heard the testimonies of former Americanas executives and experts. The retailer filed for bankruptcy protection in January and reported accounting irregularities of more than $5 billion. A second proposal aims to improve access by independent audit companies to the financial information of the companies they are auditing.

The fourth and final proposed measure aims to boost protections for whistleblowers in the country and broaden the scope of whistleblowing.

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