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TAP: CMVM assures 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 today that the media coverage of the case of the departure of Alexandra Reis from TAP does not condition the actions of the capital market supervisor.

In January, the CMVM announced that it was “very carefully” evaluating the information provided by TAP on the departure of Alexandra Reis and added that if there was an administrative infraction, it would be communicated “as soon as possible.”

In an interview with Antena 1 radio and Jornal de Negócios, Laginha de Sousa declined to specify the stage of the CMVM inspection action, limiting himself to assuring that the institution is attentive to everything that is published and that it may constitute more value for the process

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

The president of CMVM also clarified that the supervisor’s role is not to assess whether the decision made by the company was good or bad, but to ensure that investors “have the information that allows them to evaluate everything they consider relevant and make decisions.” . their own decisions decisions”.

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

In the first hearing in the parliamentary Budget and Finance committee as president of 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, according to the airline. only the resignation of the administrator in the information to the market, when it was later learned that there was a negotiation for the exit.

The vague responses of the person in charge upset several deputies who kept repeating the question about the actions of the CMVM in the case and if they considered that TAP provided wrong information.

“The available information was not what it should have been. So, the consequences that it may or may not have in terms of administrative infringement is an analysis that must be carried out very carefully”, said Laginha de Sousa, adding that he cannot enter the specific case due to the secrecy with which CMVM is bound. , but that “it will not take longer than strictly necessary” to make a decision.

In February 2022, TAP informed the CMVM of the departure of the administrator Alexandra Reis, referring to the airline that Alexandra Reis had resigned from her position.

In December, Alexandra Reis took office as Secretary of State for Finance, having then ‘unleashed’ the controversy over the compensation she received for leaving the airline owned by the State (500,000 euros).

In a written statement sent to Lusa that month, Alexandra Reis said that the agreement to terminate her functions “as director of companies in the TAP universe” and the revocation of the “employment contract with TAP SA, both requested by TAP, as well as Its public communication was agreed between the legal teams of both parties, with the mandate to ensure the adoption of best practices and strict compliance with all legal precepts.

On December 28, TAP sent a new clarification to the CMVM, indicating that the resignation presented by Alexandra Reis “was produced after a negotiation process at the initiative of TAP, in the sense of reaching a consensus by agreement on the termination of all existing contractual links between Alexandra Reis and TAP”.

The executive president (CEO) of TAP, Christine Ourmières-Widenerdisse, has declared in January, in Parliament, that the communications sent to CMVM regarding the compensation of Alexandra Reis are recommended by lawyers and guarantee that there are documents and “written proofs” above all the process.

On March 6, the executive president of the airline and president of the Board of Directors, Manuel Beja, was exonerated by the Government after the announcement of the results of an audit by the General Inspectorate of Finance (IGF), which concluded that the agreement because the departure of Alexandra Reis is null and the compensation close to half a million euros will have to be returned.

Source: Observadora

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