Editorial standards

Last updated: October 27, 2026.

These are the rules Indicora's newsroom follows to choose, report, write and label what it publishes. Who is accountable for them is listed in the Masthead. Indicora's articles are published in Portuguese.

1. Facts only

Indicora publishes news and objective fact: who did what, when, how much and where the information comes from. There is no opinion section and no analysis section.

That is why we do not publish:

• investment recommendations, buy or sell calls, or price targets;
• our own forecasts of prices, rates or results. Third-party projections only appear with attribution and source, as fact ("the Focus survey projects...");
• value judgments about assets and companies, such as "cheap", "opportunity" or "undervalued";
• rumors, hearsay and accusations without a source we can cite;
• rewrites of another outlet's article: another outlet may point us to a story, but we report from the original source.

This is also a legal requirement: Indicora does not provide securities analysis or advisory services (CVM Resolutions 19 and 20/2021), and nothing on the site is investment advice.

2. Sources

• Official sources first. The Central Bank, IBGE, the CVM, B3, the National Treasury and companies' own notices and filings are the basis of what we publish, because they can be cited and verified.
• The source is shown. Every article says where the information came from and, whenever possible, links to the original document or data.
• Other outlets help us spot stories, not copy them. When a fact only has an account without an official source, we say so and attribute it to whoever reported it.
• Respect for sources. We follow each source's terms of use and automated-access rules, and do not reproduce beyond what the license allows.

3. Verification

• Numbers, dates and names are checked against the source document or data before publication.
• For items generated from data, the text comes from a fixed template and goes through automated checks (format, dates, consistency of the numbers with the source and banned terms).
• Sensitive subjects, such as accusations against people, politics and elections, mergers and acquisitions, judicial reorganization and investigations, get human editing before going live.
• Every article shows its publication date and, when it changes after publication, the date and note of the update.

4. Labels

Each item carries a label saying what kind of content it is:

• News: an account of a fact reported by the newsroom, with the source cited.
• Data: information generated from official or licensed data, such as an economic indicator or a company notice. It shows the source and the date of the data, and is signed institutionally (see the AI policy).
• Sponsored: content paid for by an advertiser. It is always identified as sponsored, kept apart from editorial content, never passes itself off as news and follows the same facts-only, no-recommendation rules. The advertiser does not edit the newsroom.

In Portuguese, the labels read Notícia, Dados and Patrocinado.

5. Market data

Quotes, indices and other market data show the source and the time or delay of the data. Quotes may be delayed and are not suitable for trading. Third-party data remains its owners' and follows each source's license.

6. Independence and conflicts of interest

• Ads and the supporter subscription fund Indicora, but they do not decide what is published. Supporters cannot buy content, and advertisers neither choose nor review articles.
• We block ad categories that do not fit our line, such as betting, promised "extra income", high-risk crypto and predatory credit.
• When there is a relevant conflict of interest between the newsroom and the subject of an article, it is disclosed in the article itself.

7. Bylines and artificial intelligence

The byline of an article is a person, the human editor who is accountable for it. Automated items carry an institutional signature. How we use artificial intelligence, how automated content is labeled and how humans review it are in the AI policy.

8. Mistakes

We get things wrong, and we correct them visibly. The severity levels, deadlines and record are in Corrections. To point out a mistake, write to us through our contact page.