Brazilian IR has been growing fast
While the Brazilian capital market is still in its developing stages, the importance of the investor relations function has long been recognized. In fact, Brazilian securities rules are probably the only ones in the world to formally require that every public company must have IR. Since 1976, when the Brazilian securities commission (Comissão de Valores Mobiliários, or CVM) was established, it was a legal requirement that all issuers of any kind of securities offered in the marketplace
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