The Master case continues to expand the ramifications. From the customers’ point of view, if previously it reached more medium and large investors, now, with the belonging to the group, reaches a lower-income population, many small entrepreneurs.
The focus of fintech, which operated digitally, was to facilitate banking. Although there may still be an initial difficulty in reimbursement, due to everything involved in the settlement process, the tendency is for greater recovery of amounts deposited or invested.
The new liquidation should add another R$6.5 billion to the rescue of the Credit Guarantee Fund, according to initial estimates, in addition to the R$40.6 billion foreseen for around 800,000 Master creditors. It is worth remembering that the FGC covers deposits and investments of up to R$250 thousand by CPF or CNPJ. If it is a joint account, the amount will be divided among all account holders. Not all investments have this coverage. For example, the CRI, CRA, Certificates of Receivables do not apply to investment funds.
But, in addition to the scare with reimbursement limitations, this entire case serves as a warning for investors and institutions that were looking for greater profitability. If it had been known for some time that the Master could have problems, the rumors were strong. However, as it offered profitability well above the market average, in CDBs, managers who intermediated the purchase of third-party securities, recommended the purchase of these securities, assuming that customers would be more satisfied with the gain obtained. This happened for some time. But now they are in the refund queue in the same way as those who bet directly on the Master.
With the risk of not receiving everything they invested. And funds had these securities in their portfolio, now they are having to adjust to compensate for possible losses. Pension funds from some states and municipalities are also seeking to recover those who lost betting on the Master, resources from civil servants’ retirement. But then we get into the ramifications, the countless political ramifications of the Master case.
As for investors, it’s good to remember the old saying…. When the alms are too much, even the saint becomes suspicious!
*This text does not necessarily reflect the opinion of Jovem Pan.
