Brazilian regulator questions derivatives user

06/20/2013 | Wall Street Journal, The

Meatpacker JBS, the largest nonfinancial user of derivatives in Brazil, is facing questions from the country's Securities and Exchange Commission. The move indicates the agency is taking a proactive stance in derivatives regulation, analysts say. JBS uses derivatives tied to foreign exchange, interest rates and commodities to protect against market movement, Comptroller Rafael Harada says.

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