Fachin returns the INSS case to Mendonça and maintains Banco Master in the Presidency of the STF
According to Times Brasil, the president of the STF did not find individual elements that justify maintaining Operation Without Discount under his presidency.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM TIMES BRASIL · 2 MIN
Fachin, president of the STF, decided on Thursday (29) to return the investigations into the INSS case, known as Operation Sem Desconto, to André Mendonça. According to Times Brasil, the same decision maintains the procedures linked to Banco Master in the Presidency of the court.
The Master case's permanence in the Presidency has a deadline. According to the report, it is exceptional and provisional, with a maximum limit of 90 days from September 12th.
The central point of the decision is the justification for the INSS case. Fachin stated that, so far, there are no concrete and individualized elements that justify keeping Sem Desconto in the Presidency. In practice, the investigation returns to Mendonça's hands, and the bank's case remains under the Presidency for a specified period of time.
The two processes weigh on the market because they deal, on the one hand, with irregularities related to the INSS and, on the other, with a financial institution. The facts discovered do not provide the next steps of each investigation, so reading is restricted to what was decided and the deadlines set.
What changes for the investor
For those who invest and operate the stock market, interest rates and the dollar, there is, in the facts found, no direct effect on prices. Still, a 90-day deadline for a case involving a financial institution keeps the issue on the radar, and the way the Supreme Court conducts processes linked to banks tends to be included in the sector's risk assessment. It is worth monitoring Mendonça's conduct in the INSS case and what happens when the Master's term approaches the end.
Automatically translated from Portuguese.
