The Ministry of Finance reported that Capital Market Commission Chair Elmer Serrão, speaking at the fifth Capital Markets Forum, called for greater participation by private issuers to sustain the market’s development beyond the privatization cycle. He argued that the market should complement bank lending by giving companies more financing options and investors a broader range of opportunities. Serrão cited stock exchange transactions and public offerings under the Privatization Program as evidence that capital markets can broaden corporate ownership and improve governance, transparency and disclosure. Further growth will require companies to present viable projects, well-organized accounts and governance models that give investors confidence.