UPDATE 1-BM&FBovespa unveils plan to hone governance for Brazil state firms

April 2, 2015 1:29 PM

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SAO PAULO, April 2 (Reuters) - Financial bourse BM&FBovespa SA presented on Thursday a plan to strengthen corporate governance rules for Brazilian state-controlled companies, in response to a corruption scandal engulfing oil producer Petróleo Brasileiro SA.

State firms will adhere to the new framework on a voluntary basis, Chief Executive Officer Edemir Pinto said at an event. The rules will be put to public hearings with a limited number of market participants beginning April 22.

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