Brazil changes regulations to increase competition
Just before the Labor Day holiday, President Jair Bolsonaro signed a provisional decree to reduce bureaucracy for businesses. These measures are issued by the president’s office and hold the same value as laws. They are effective immediately but Congress must confirm them within 120 days, or they lose their validity. We break down the main changes for you:
All physical documents can be digitized—and later discarded.
Companies will be allowed to set the prices they want. Dropping fees can no longer be considered as “predatory competition.”
Companies engaging in low-risk activities no longer need to get permits (safety, sanitary, and environmental) to operate. Companies testing new products that are not hazardous will also be exempt.
Regulators will not be allowed to inconsistently interpret norms.
Former Senator and chairman of Brazilian Social Democracy Party (PSDB) Eduardo Azeredo has left the party. He was likely going to be expelled or asked to leave by the party’s top brass. Azeredo was sentenced to 20 years in prison for corruption and money laundering https://t.co/aAWDpJiKs6
Brazi's Central Bank's decision to intervene in the depreciation of the Real hasn't worked so far, as the U.S. Dollar rate continue to rise around BRL 4.10 on São Paulo's stock market. The Central Bank has decided to tame the loss of value, holding three currency auctions by Wed. https://t.co/xnFWHjVQ8U
. @folha points out mistakes in the request placed by prosecutors to lift the bank secrecy of Flavio Bolsonaro and others. According to the newspaper, some targets were not appointed by the president's son while he served as a Rio de Janeiro lawmaker. https://t.co/gbIUFYIhv8