Securitização de recebíveis do agronegócio e regulação por gatekeepers

Resumo

This academic work analyses how rating agencies are legally disciplined under Brazilian securities market’ regulation (Instrução-CVM nº 521 – Regulation nº 521), in the context of the securitization of agribusiness related securities (known as 'CRAs'). Therefore, this work regards the relation between the economic peculiarities of a certain sector of the economy (in our case, agribusiness) and the legal mechanisms of regulation (in our case, rating agencies in the securitization of CRAs). Despite its object of study being very specific, this work will permit its reader to understand how the form of regulating a certain market must be a choice that takes into consideration the incentives and risks of that market’s players. Thus, this work explains how the Brazilian securities’ market authority (Comissão de Valores Mobiliários – CVM), through Regulation nº 521, imposed a gatekeeping role to the rating agencies and how that role must be applied in the agribusiness.

Ficha do documento

Tipo

Outro

Ano

2018

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/24553

Palavras-chave

AgronegócioCertificados de Recebíveis do AgronegócioSecuritizaçãoAgências de rating de créditoGatekeeperDireitoAgroindústriaTítulos de créditoCréditos - Avaliação de riscos