Santana To Head Brazil Regulator

Maria Helena Santana, commissioner of the CVM, Brazil’s market regulator, was tapped by finance minister Guido Mantega to become the president of the commission, replacing Marcelo Trindade, who was expected to step down following a three-year term at the helm of the CVM. Before joining the regulator in 2006, Santana spent12 years at the Bovespa working alongside Raymundo Magliano Filho, the exchange’s president. Speaking on the sidelines of a conference a week ago, Santana told LatinFinance the CVM has recently upped its scrutiny of pre-IPO executive compensation packages and loans from underwriters. She will be the first woman to head Brazil’s market regulating agency.