The minister, of , stated this Monday (4) that, amid the scandal involving the Banco Master, It is “myopia” to attribute the crisis of confidence in Brazilian institutions solely to the Judiciary.
The statement was made during a public hearing called by the minister Flavio Dinoin the STF, which discusses the capacity to supervise the capital market and the functioning of the CVM (Securities Commission).
According to Gilmar, the Master case and its consequences contributed to increasing Brazilians’ distrust in institutions. For the minister, however, it is “myopia” to focus criticism exclusively on the Supreme Court.
“We have a situation of widespread discredit, aggravated by the difficulties that the Brazilian State faces in meeting the basic demands of citizens. In this context, intending to resolve the crisis of confidence by targeting only the Supreme Court is, to say the least, a naive reading,” he said.
The minister then defended a broader reform, “something like a new republican pact or, perhaps, a pact for state reform”.
“It is necessary to advance in the rationalization of parliamentary amendments, in the improvement of the electoral system, especially the proportional model, in the discipline of the powers of the CPIs, in the protection of digital sovereignty, in the improvement of the system of checks and balances, transparency and supervision of the exercise of powers”, he stated.
CVM and inspection
A CVM (Securities Commission) is the government body responsible for regulate, supervise and develop the capital market in Brazil.
In the decision that called for this Monday’s public hearing, Dino stated that the sophistication of criminal organizations has advanced in regulated environments, such as the capital market, and that this is demonstrated by the increasing difficulty of supervision in this sector.
“The case of Banco Master […] illustrates the growing regulatory and inspection difficulties”Dino pointed out.
The debate takes place that questions provisions of the Lei 14.317/2022, responsible for changing the calculation of the CVM inspection fee.
Author of the action, the New Party maintains that the amounts collected by the commission through this fee are disproportionate in relation to the costs of regulatory activity and have been partially directed to the National Treasury.
