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Brazil Congress proposes market regulations after Americanas scandal

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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 committee's first measure proposes changes to laws governing the responsibility of company shareholders and managers.

The committee also proposes that Congress reforms the law regarding the crime of "patrimonial infidelity," in which a member of the management compromises the company's interests as well as those of the company's partners or shareholders.

 

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