Corruption and conflict of interest investigations launched in Macau and Brazil

In Macau, the Commission Against Corruption (CCAC) has identified a suspected case of collusion between two cleaning companies during a public tender. The CCAC noted that the companies shared similar board members, suggesting a lack of fair competition. While neither company won the contract, the CCAC urged the Commissioner of Public Procurement to improve oversight to ensure fair competition, especially with the new Public Procurement Law taking effect on September 1.

The Commissioner of Public Procurement has agreed to the recommendations and updated internal guidelines. Moving forward, tender committees must consult commercial registry documents to verify the composition of administrative bodies and detect potential collusion.

In Brazil, the Federal Court of Accounts (TCU) has launched an investigation into alleged conflicts of interest involving former directors of the Securities and Exchange Commission of Brazil (CVM). The probe focuses on whether influence was used to defend the interests of Centaurus Capital, the primary shareholder of Oncoclínicas, during its public offering process.

The investigation follows a representation by minority shareholders through the Brazilian Association of Investment, Credit, and Consumption (Abraicc). The case involves whether Centaurus, via the Josephina III fund, is required to launch a mandatory tender offer after exceeding a 15% ownership threshold.