Our partner Maria Isabel do Prado Bocater was featured in an article in O Globo newspaper that discussed the liquidation of investment manager and administrator Reag by the Central Bank.
According to the article, the move poses no direct risk to investors, and the authority’s decision has the same purpose as in the case of Banco Master: to prevent the institution from operating in the financial market, but in this case, without impacting the funds it manages or has under management.
According to Isabel, the future of the funds will be in the hands of the liquidator appointed by the Central Bank. She points out that there are rules defined by the agency that regulates the capital market for the allocation of fund management.
“The liquidator could administer and manage the fund, since it will now manage the brokerage firm, but they don’t normally do that. It is possible to call a meeting to deliberate on changing the management of the funds to another institution,” she said. Another option, according to her, would be for the CVM to revoke Reag’s accreditation and then appoint a temporary manager for the funds currently under management.