Filipe Barros criticizes the president of the CVM and explains the summons: "it's become a little club"
The congressman claims that the agency has been captured by private interests and has failed to fulfill its regulatory role, compromising national economic sovereignty.
247 - During a meeting of the Foreign Relations and National Defense Committee this Wednesday (2), federal deputy Filipe Barros (PL-PR) harshly criticized the performance of the Securities and Exchange Commission (CVM), chaired by João Pedro Nascimento. According to him, the agency has ceased to fulfill its regulatory function and has begun to serve the interests of the financial market itself, to the detriment of the real Brazilian economy.
Filipe highlighted that the CVM (Brazilian Securities and Exchange Commission) was convened, along with other bodies, to discuss topics such as the impacts of the current regulatory structure on economic sovereignty, the risks posed by political instability to the financial market, and the acquisition of strategic national assets by foreign funds. "It seems that the CVM is more concerned with pleasing the market it should be regulating than with fostering the Brazilian economy," he stated.
"The CVM has become a small club"
According to the congressman, the CVM (Brazilian Securities and Exchange Commission) has become a closed space, dominated by interests that block the entry of new companies into the stock market. "The impression is that the CVM has become a small club. Those in charge create a protectionist model for themselves, preventing other companies from also having the benefits of being listed," he said.
Filipe compared the number of companies listed on B3, the Brazilian stock exchange, to that of the Iranian stock exchange, pointing out that Brazil has fewer companies in the capital market than the Persian country. For him, this is a symptom of a serious dysfunction. "Something is wrong. The CVM (Brazilian Securities and Exchange Commission) is preventing companies from entering the stock market, which harms national economic sovereignty."
Criticisms of the CVM's agenda
The congressman also denounced what he called the CVM's "dangerous alignment" with international agendas, mentioning the possible imposition of quotas for transgender people in companies listed on the stock exchange. "I recently questioned a CVM advisor about how many transgender employees there are in the agency itself. The answer was: none. So why impose this on private companies?" he asked.
Barros highlighted that, despite the current president of the CVM (Brazilian Securities and Exchange Commission) having been appointed during the Bolsonaro administration, there is no commitment to the guidelines of that government, and that João Pedro Nascimento today seems to be following "a globalist agenda that is collapsing worldwide."
Advocating for reindustrialization and the real economy.
At the end of his speech, Filipe Barros made a strong defense of Brazil's reindustrialization and the strengthening of the real economy. According to him, major powers are adopting industrial protectionist measures, while Brazil remains hostage to financialization.
“We are living through a new industrial revolution. We need to attract industries, generate jobs, and foster the productive sector. The financial market must be an instrument of the real economy, and not an end in itself,” he argued. He also suggested that, if the president of the CVM (Brazilian Securities and Exchange Commission) does not appear before the commission, he and the Minister of Finance, Fernando Haddad, could be formally summoned.
“He needs to come here and explain. He heads one of the most important regulatory agencies in Brazil, and he should be focused on job creation and strengthening the real economy. But, unfortunately, that's not what the CVM has been doing,” he concluded.
