The Securities and Exchange Commission (CVM) questioned publicly traded companies about the way they have been dealing with “drawn risk” operations, after the discovery of Americanas’ billionaire hole with this type of maneuver. Nine companies from the retail and wholesale sector were consulted, as CNN .
In a note, the CVM said that “whenever necessary, it interacts with capital market participants in order to request important information for analysis and supervision work”.
“In this sense, the Superintendence of Corporate Relations (SEP) of the CVM sent a consultation to publicly-held companies regarding the subject matter of their questioning”, declared the autarchy.
“Withdrawal risk” or “forfait” is the name given to a practice in which the bank makes a loan to the company that made purchases from suppliers, with the aim of facilitating the negotiation. As a result, the company’s debt is now with the financial institution and no longer with the supplier. According to Roberto Kanter, economist and professor at the Getúlio Vargas Foundation (FGV), the transaction is not uncommon among retail chains.
Source: CNN Brasil
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
