Analysis on hiring and remuneration of autonomous investment agents wins Anbima award

The object of Favoretto's award-winning research is the performance of autonomous investment agents with interdisciplinary analysis, including regulatory, competitive and civil liability aspects.

For the second year in a row, a student from the academic master's degree at the FGV Sao Paulo Law School (FGV Direito SP) won the ANBIMA (Brazilian Association of Financial and Capital Market Institutions) Capital Market Award.

This year, the winner was student Daniel Favoretto Rocha, with research entitled Legal regimes for investor protection in investment advisory: empirical and normative analysis of the hiring and remuneration of independent investment agents.

The object of Favoretto's award-winning research is the performance of autonomous investment agents with interdisciplinary analysis, including regulatory, competitive and civil liability aspects. According to Viviane Muller Prado, "with recent growth in the number of individuals in the Brazilian securities market, research on investor protection in the face of intermediaries in the financial and capital markets has become increasingly relevant."

Favoretto is supervised by professors Viviane Muller Prado and Caio Mário da Silva Pereira Neto and was one of three winners of the 16th edition of the ANBIMA Award, which, last year, was won by Rafael Vieira de Andrade de Sá, also an academic master's student at FGV Direito SP,  and also supervised by professor Viviane Muller Prado.

The ANBIMA Capital Market Award has recognized masters and doctoral students in Economics, Business Administration and Law since 2005. Developed in partnership with the Institute of Economic Policy Studies Casa das Garças (IEPE/ CdG), the award has the objective of encouraging academic production that addresses the development of capital markets in Brazil.

In fact, this topic is on the agenda of the Center for Studies in Financial and Capital Markets - MFCap/FGV Direito SP. At the end of 2020, Marcos Galileu Lorena Dutra, professor at FGV Law and researcher at MFCap/FGV Direito SP, completed research on conflict of interest in the exercise of activities of intermediaries in the capital market.

Daniel Favoretto is a former law student at FGV Direito SP, where he studied with the support of the Getúlio Vargas Foundation Presidential Scholarship and a maintenance grant from the Endowment Association, and continued his studies at the same institution, where he now receives support from the Mario Henrique Simonsen Scholarship for Teaching and Research. While he was a graduate student, Daniel also won a prize in a contest by the Brazilian Institute of Studies on Competition, Consumption and International Trade (IBRAC), for another research paper on competition, regulation and civil liability.