Market Arbitration Chamber (CAM)

The Market Arbitration Chamber, popularly abbreviated as CAM, is a forum created specifically to deal with possible conflicts that may occur within the Capital Markets between interested parties, especially considering investors and companies.

More specifically, it is a specialized way that minority investors have to seek rights that they perceive as violated by companies or by majority shareholders. CAM is an independent environment, with no direct relationship with any company listed on the Stock Exchange.

It was created in June 2001 with the aim of increasing transparency and offering shareholders an even safer environment for investments in companies listed on the Stock Exchange. In a way, although not necessarily the main objective, it also served as a stimulus for more conservative investors as they would have someone to turn to in case of conflicts.

How does the Market Arbitration Chamber work?

The Market Arbitration Chamber is composed of more than 80 arbitrators and offers shareholders a resolution with an average time much less than the use of the traditional judicial system. The maximum term, according to Law No. 9,307 / 96, is 180 days.

The professionals who make up the CAM are specialized in the financial area, especially with regard to corporate law. They are trained in areas such as Law, Economics , Administration and others related.

It is worth noting that, despite the aforementioned period, the parties involved in the process can reach an agreement at any time. In addition, another important point in the functioning of the CAM is that, when opting for this alternative in resolving a conflict, the parties renounce the traditional judicial route.

Do all companies participate in CAM?

Companies do not necessarily use CAM to resolve their conflicts. Not all companies listed on the Stock Exchange are required to join the Market Arbitration Chamber. Thus, if you think it is important to have this coverage, be sure to evaluate this point before investing.

On the other hand, for some organizations, membership is mandatory. This is the case for the following levels of Corporate Governance:

  • New Market
  • Level 2
  • Bovespa More

For companies that do not belong to one of these three groups, joining the Market Arbitration Chamber is optional. They can select the CAM to resolve conflicts among their shareholders if they wish.

Below, we list some examples of companies that use the Market Arbitration Chamber to resolve their conflicts. You can access the full list of member companies directly on the B3 official website .

  • Banco ABC Brasil
  • Arezzo
  • Cielo
  • EcoRodovias
  • Fleury
  • Iguatemi
  • Renner Stores
  • Petrobrás
  • Taesa
  • Tupy

Digital Market Arbitration Chamber

In order to improve the efficiency of the Market Arbitration Chamber system, B3  provides a digital tool for resolving conflicts that may eventually arise between companies and investors. This solution is called CAM B3 Digital.

The main benefit of the tool is in the simplification of processes, since until then it was necessary to perform it physically and in person. It is, therefore, a format for using the forum that offers practicality and agility to access the Market Arbitration Chamber.

According to the B3 website itself, these are some of the actions that CAM B3 Digital offers its users (both for the parties involved in the process, as well as for the arbitrators):

  • Initiate an arbitration process;
  • Respond to an arbitration process;
  • Monitor procedure deadlines;
  • Monitor financial information about the procedure;
  • Join as an interested party in the process.

 

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