BMA Advogados
BMA Review

Legacy and evolution: A look at what’s changed

30.06.2025 2 min read

When the first edition of our quarterly publication BMA Review was sent to clients in 2003 – in print only, and without a single photo – we didn't know that we were establishing a tradition. Our longest-lived publication has evolved with the times: over more than 20 years, the newssheet has become a periodical, and direct mailing has been replaced by e-mail. The one thing that hasn't changed, though, is our curious, informed gaze on the legal and business world, focusing on issues that can affect our clients and business partners.

The source of inspiration for this special edition of the BMA Review ties into the theme of our 30-year commemorations – Time is a Construct – looking back and honoring the past while looking forward and preparing for the future. For some, 30 years is a legacy; for us, it's also evolution.

In this edition, we want to show how the law has advanced in Brazil: how legislation, regulations, regulatory agencies and even the courts have changed, transforming the way business is done in Brazil. We have invited some of our partners to revisit topics they had written about in past editions of BMA Review and look at them from today's perspective. The results are even more interesting than we expected, offering profound reflections on legal developments that BMA has seen – and sometimes led.

You'll find articles on the Novo Mercado listing segment of Brazil's stock exchange (is it still "new" after 25 years?), changes in the use of administrative settlements in cartel investigations, the enormous growth of real estate funds, and the small but significant advances in "super-preferred" stock, among other topics.

BMA Review has always been a collective effort. It has become part of BMA's heritage, built up by specialists eager to contribute each edition. Our aim is to offer articles that give insight into the legal changes to come in a world where artificial intelligence and other transformations will have a profound impact on the practice of law.


​>>> This content is part of BMA Review #87. Click here for more.