STATE OWNED ENTERPRISES: 05 YEARS OF THE NEW CORPORATE GOVERNANCE RULES

• Autor(a) principal: Garcia, Ricardo Lupion
• Data de Publicação: 2023
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Revista Opinião Jurídica (Fortaleza)
• Texto Completo: https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/4294
• topic: company; state-owned enterprises; corporate governance; directors and officers; legal requirements and impediments; empresa; estatales; gobierno corporativo; administradores; requisitos e impedimentos legales

ABSTRACTObjective: This article intends to address the new Brazilian regulatory environment created by the SOEs Law (Law No. 13,303, of June 30, 2016) which created new corporate governance rules in state-owned enterprises for the election of directors, officers and fiscal council members, with the purpose of protecting the public companies, the mixed joint-stock corporation and its subsidiaries ("state-owned") against any possible (and unfortunately common) political-partisan interference in the appointment of the members of these top-level management positions in the SOEs. The article will also present cases of progress, setbacks, and the future of this new Brazilian legal norm.Methodology: Review of the bibliography and analysis of judicial and administrative precedents involving the application of new corporate governance rules for state-owned enterprises.Results: It is possible to conclude that the new corporate governance rules were created by Law No. 13,303, of June 30, 2016 with the purpose of protecting the state-owned enterprises (SOEs) against any possible (and unfortunately common) political-partisan interference in the appointment of the members of the top-level management positions in the SOEs.Contributions:  From the results found, it is possible to verify: (a) One of the most relevant aspects of the Law No. 13,303, of June 30, 2016 was the creation of academic background, professional experience and professionalization for the top-level management of state-owned enterprises, as usual in the private sector. (b) that the Brazilian Securities and Exchange Commission (CVM) determined the application of the new corporate governance rules for state-owned enterprises; (c) the Judiciary, especially the Federal Supreme Court (STF), can make a relevant contribution if it decides to apply these new rules  of governance corporate in order to mitigate  political-partisan interference in the appointment of the members of these top-level management positions in the state-owned enterprises (SOEs).