Put Andre Jerusalem – 0707/2020
On June 29th, the Securities and Exchange Commission (“CVM”) published Ordinance CVM/PTE/Nº 75, the composition and operation of the Sandbox Committee was established and regulated (“CDS”), which was divided into strategic and operational cores.
In general terms, the centers are responsible for defining:
- terms of the participant admission process to be included in the market announcement;
- additional procedures for the participant admission process; and
- motivated recommendations for selection and prioritization if there are not enough places for all proposals considered suitable for admission.
Considering the characteristics of the Sandbox, the members of the centers will be able to interact with universities, researchers and other institutions to establish partnerships and monitor the participants together with other regulatory bodies or regulatory authorities from other countries.
For more information about Sandbox, check out our note on the subject here.