New SEC regulations stemming from Sarbanes- Oxley require lawyers to report any violation of US securities law. But this might clash with Brazil’s Code of Ethics for lawyers, creating a dilemma for local attorneys. Marcelo Godke Veiga, head of international and corporate practice at Siqueira Castro Advogados in São Paulo, details the conundrum.
Pamela Ortega Correa, Coronel & Pérez Abogados, Ecuador
Why has Peru succeeded where other Andean nations have so far failed? Maria del Carmen Tovar, of Estudio Echecopar , explains how the country’s legal framework has enabled a smoother path to an FTA with the US than its neighbours are having.
Farley Menezes, in-house counsel in the capital markets department of Banco Bradesco in Brazil
Milenka Saavedra, associate with Bufete Aguirre in Bolivia
In late December 2005, the US Congress did something that few trade experts or Latin American governments expected: it took an important step toward repealing the Byrd Amendment, the controversial law that permits US companies to collect duties imposed on unfairly traded imports. But, argues Gregory Spak, a partner in Washington, DC in White & Case LLP’s international trade group, while the move is positive, the Byrd affair is just a distraction from the real issue: the US unfair trade laws.
The US Securities and Exchange Commission has proposed new rules to allow non-US issuers to deregister more easily. Marc Rossell and Walter Van Dorn of Thacher Proffitt & Wood LLP detail the possible changes.
Jair Bravo-Gutierrez, Baker & McKenzie (Mexico)
Recent actions by the Brazilian government indicate a clear intention to open up the US$1.286 billion reinsurance market to free competition in the coming months. Marcelo V Rechtman, of Gaia Silva Rolim & Associados, outlines the path ahead.
The creation of Braskem in August 2002 was one of the most remarkable corporate restructurings to date in Brazil. Clare Bolton spoke to the company's legal director, Mauricio Ferro.