President Luiz Inácio Lula da Silva has nominated lawyer Otto Lobo to lead Brazil’s Securities Commission (CVM). While the pick restores the agency’s ability to function properly, it also deepens concerns about political interference in a body long prized for its technical independence.
Besides Lobo, Lula also named Igor Muniz as a director. Muniz previously worked as a lawyer for Petrobras and has the backing of the president’s Workers’ Party.
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