TAP: CMVM guarantees that it is not conditioned by the media coverage of the Alexandra Reis case

The president of the Securities Market Commission (CMVM), Luís Laginha de Sousa, said this Saturday that the media coverage of the case of the Alexandra Reis leaving TAP it is not conditioning the performance of the capital market supervisor.

In January, the CMVM announced that it was evaluating “with great care” the information provided by TAP about the departure of Alexandra Reis, adding that if there was an administrative offense, this would be communicated “as soon as possible”.

In an interview with Antena 1 radio and Jornal de Negócios, Laginha de Sousa declined to say what stage the CMVM supervision action is at, limiting himself to ensuring that the institution is attentive to everything that is published and that it may constitute a more -value for the process.

“We are not indifferent to what is going on around us, but this is not in the sense of conditioning us. It is in the sense of realizing if there are sometimes aspects that we may be missing ”, she said.

The president of the CMVM also clarified that the role of the supervisor is not to assess whether the decision taken by the company was good or bad, but rather to ensure that investors “have the information that allows them to assess everything they deem relevant and take their decisions”.

Regarding the CMVM’s performance in this process, Laginha de Sousa guaranteed that the market regulator has “everything very well documented” and that decisions are taken “in the light of the best interpretation and the best information available”.

At the first hearing in the Budget and Finance committee in parliament as president of the CMVM, in January, Laginha de Sousa was questioned several times about the information provided by TAP to the financial market regulator about the departure of Alexandra Reis, as the airline communicated only the resignation of the administrator in the information to the market, when it later became known that there was a negotiation for the exit.

The responsible person’s vague answers displeased several deputies who kept repeating the question about the CMVM’s action in the case and whether they considered that wrong information was provided by TAP.

“The information available was not what it should be. Then, the consequences that may or may not have in terms of administrative offense is an analysis that has to be carried out with great care”, said Laginha de Sousa, adding that he cannot enter the case specifically due to the secrecy to which the CMVM is subject, but that it “will not take longer than is strictly necessary” to make a decision.

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Deborah Acker

I write epic fantasy; self-published via KDP. Devoted dog mom to my 10 yr old GSD, Shadow! DM not a priority; slow response at best #amwriting #author.

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