By: André Jerusalem
In August, a technical cooperation agreement was signed between the Securities and Exchange Commission (“CVM”) and the National Bank for Economic and Social Development (“BNDES”), aiming to stimulate the use of financial innovation and sustainable finance to promote the development of the securities market.
It is important to emphasize that this agreement only has technical aspects, aiming at expanding the activities of the signatory parties among themselves, and its text states that there is no sharing of budgetary or human resources. In this sense, five pillars of action were established, namely:
- Institutional dialogues;
- Promotion of events, studies and exchange of experiences and specialized technical knowledge;
- Financial innovation;
- Educational activities;
- Cooperation in socio-environmental initiatives.
It should be noted that the agreement has a duration of 5 (five) years, and may be extended by signing an addendum.