Rio, 12 (Agência Brasil - ABr) – The new president of the Brazilian Securities Exchange Commission (CVM), Luiz Leonardo Cantidiano Ribeiro, will take office on Monday (July 15). He has said he has four aims: diversify the capital markets making them more active so the market can be broadened, and generate financing for corporations.

He wants to give the CVM more attributes, expanding activities to include funds and derivatives. He wants more oversight so the market will be efficient and more flexible in the services it offers, meeting the needs of the market.

Cantidiano also called for strengthening Brazilian stock markets so they remain the Southen Cone financial center, with strong primary and secondary markets in the country. He called for small companies working in communities, bigger companies working nationwide, and large corporations outside the country. "That will result in market growth, jobs and the democratization of capital," he said. (AB)