,QIRUPD§£R 7©FQLFR &RPHUFLDO
$QWHUR &XQKD *HVWRU GH 3URGXWR )8&+6 /8%5,),&$17(6 8QLS /GD 7HO _ )D[ IXFKV#IXFKV SW _ ZZZ IXFKV SW
'HVHQJRUGXUDQWHV 2UJ¢QLFRV ,VHQWRV GH &29 &RPSRQHQWHV 2UJ¢QLFRV H 9RO¡WHLV
$ GLUHFWLYD HXURSHLD &( WUDQVFULWD SDUD D OHJLVOD§£R QDFLRQDO SHOR 'HF /HL Qz HP YLJRU UHVWULQJH GHVGH D XWLOL]D§£R GH VROYHQWHV GH GHVHQJRUGXUDPHQWR TXH SURYRTXHP HPLVVµHV GH &29 D DSOLFD§µHV VHP DOWHUQDWLYD W©FQLFD RX FRPHUFLDO GH IRUPD D SURPRYHU VROX§µHV PDLV DPLJDV GRV RSHUDGRUHV H GR DPELHQWH
$ )8&+6 /8%5,),&$17(6 DSUHVHQWD D QRYD JHUD£ R GH GHVHQJRUGXUDQWHV EDVH VROYHQWH LVHQWRV GH &29 5(12&/($1 / & H %,2 62/9(57 GHVHQYROYLGRV SDUD RSHUD£±HV GH GHVHQJRUGXUDPHQWR GH WRGR R WLSR GH SH£DV PHW OLFDV SO VWLFRV H LQVWDOD£±HV
9DQWDJHQV
5(12&/($1 / &
%,2 62/9(57
Û *UDQGH FDSDFLGDGH GH GHVHQJRUGXUDPHQWR Û ,VHQWR GH &29 H VHP UHVWUL£±HV OHJDLV Û %DL[R FRQVXPR Û (OHYDGR SRQWH GH LQIODPD£ R Û )DFLOPHQWH UHFLFO YHO SRU GHVWLOD£ R
Û %DVH HVWHUHV VLQW¥WLFRV Û ,VHQWR GH &29 H VHP UHVWUL£±HV OHJDLV Û (OHYDGR SRGHU GH GHVHQJRUGXUDPHQWR Û %LRGHJUDG YHO Û $SURSULDGR SDUD UHPR£ R GH WLQWDV H UHVLQDV GH SROL¥VWHU
Ò w 0$187(1 2
&RP HVWDV VROX£±HV D )8&+6 DEUH D SRVVLELOLGDGH DRV SURGXWRUHV QDFLRQDLV SDUD TXH VHP JUDQGHV LQYHVWLPHQWRV HP HTXLSDPHQWRV GH FRQILQD£ R REWHQKDP SH£DV H VXSHUI©FLHV EHP GHVHQJRU GXUDGDV FXPSULQGR VLPXOWDQHDPHQWH WRGDV DV QRUPDWLYDV OHJDLV PHOKRUDQGR D VHJXUDQ£D GRV VHXV RSHUDGRUHV H GLPLQXLQGR R LPSDFWR VREUH R DPELHQWH