Rio, 16 (Agência Brasil - ABr) - Minister of Finance, Pedro Malan, speaking yesterday at a ceremony where the new president of the Brazilian Securities Exchange Commission (CVM), Luís Cantidiano, took office, said that Brazil and the world are going through a "crucial moment," characterized by an aversion to risk. However, Malan and Cantgidiano both pointed out that differences in the "juridical-institutional apparatus" in Brazilian and American markets and corporations make them unlike. Malan said corporate and financial market structures in Brazil were better regulated and cited the dissimilarities as a reason for the confidence crisis American investors were going through.

Malan said that other differences were the stock options American executives get and the fact that auditing firms in the US also engage in consultancy services. (AB)