Post by xyz3800 on Feb 27, 2024 22:51:32 GMT -5
The General Superintendence of the Administrative Council for Economic Defense (SG-Cade) initiated this Monday (22/4) administrative proceedings against Banco do Brasil, Banco Bradesco, Caixa Econômica Federal and Banco Santander to investigate possible infringement of the economic order practiced by institutions against Nubank. The instruction promoted by SG-Cade in the investigation opened in March 2018 showed evidence that banks were discriminating against Nubank and hindering its access to automatic debit. This product would allow Nubank customers with current accounts at one of these four banks to pay their monthly bills automatically. According to the opinion, automatic debit is considered a convenience for account holders as it saves time on monthly payments and prevents the invoice from being overdue.
Failure to make the product available to Nubank customers could cause losses to the platform, making it difficult to maintain or attract new customers in the market. Regarding the other conduct investigated in the investigation, the intraday statement (type of bank statement that identifies the depositor or sender of resources for a specific current account), SG-Cade concluded that there are no elements that indicate the existence Exit Mobile Number List of an anti-competitive practice. With the initiation of the administrative process, the four accused banks will be notified to present a defense. At the end of the procedural instruction, the General Superintendence will give its opinion on conviction or dismissal and will refer the case for judgment by Cade's Administrative Court, responsible for the final decision. With information from Cade's Press Office .
Read the note from Wesley Batista’s defense: It is incomprehensible for the same person to be reported twice for the same act. The object of the complaint offered by the MPF is identical to that presented in 2017, a process in which audited numbers and contracts have already been delivered that refute the accusations and prove that even the values brought in the complaint are correct. The businessman had no way of knowing when the plea bargain would be approved by the Federal Supreme Court and, therefore, he could not use this information to make dollar contracts. The accusations do not survive a detailed survey of the group's history in the financial market. It has already been proven throughout the instruction that such operations were typical and fundamental to the day-to-day activities of companies, including to ensure their good financial performance, thus fulfilling their fiduciary duty. JBS Complaint This is not the first time that Wesley has been accused of insider trading.
Failure to make the product available to Nubank customers could cause losses to the platform, making it difficult to maintain or attract new customers in the market. Regarding the other conduct investigated in the investigation, the intraday statement (type of bank statement that identifies the depositor or sender of resources for a specific current account), SG-Cade concluded that there are no elements that indicate the existence Exit Mobile Number List of an anti-competitive practice. With the initiation of the administrative process, the four accused banks will be notified to present a defense. At the end of the procedural instruction, the General Superintendence will give its opinion on conviction or dismissal and will refer the case for judgment by Cade's Administrative Court, responsible for the final decision. With information from Cade's Press Office .
Read the note from Wesley Batista’s defense: It is incomprehensible for the same person to be reported twice for the same act. The object of the complaint offered by the MPF is identical to that presented in 2017, a process in which audited numbers and contracts have already been delivered that refute the accusations and prove that even the values brought in the complaint are correct. The businessman had no way of knowing when the plea bargain would be approved by the Federal Supreme Court and, therefore, he could not use this information to make dollar contracts. The accusations do not survive a detailed survey of the group's history in the financial market. It has already been proven throughout the instruction that such operations were typical and fundamental to the day-to-day activities of companies, including to ensure their good financial performance, thus fulfilling their fiduciary duty. JBS Complaint This is not the first time that Wesley has been accused of insider trading.