CVM issues 27 new Resolutions related to Decree 10.139/19 – Accounting Standards Update
By: André Jerusalmy On May 20, 2022, the Accounting and Auditing Standards Superintendence (SNC) of the Securities and Exchange Commission issued 27 resolutions. This measure is part of the strategy of reviewing and consolidating normative acts below the decree, determined by Decree 10.139/2019. The resolutions are: CVM Resolution 90: consolidates CPC 01 (R1) and revokes […]
Mandatory Communication with the CVM on corporate demands by publicly traded and foreign companies
By: André Jerusalmy On May 13, 2022, the Superintendence of Corporate Relations (SEP) of the Brazilian Securities and Exchange Commission (CVM) released Circular Letter CVM/SEP 3/2022 (“Letter”), with guidelines on the indispensability of communicating to the CVM regarding corporate lawsuits in which the issuer, shareholders or administrators appear as parties and which contemplate the characteristics […]
CVM releases study on ESG and the capital markets
Por: André Jerusalmy No dia 26/05/2022, a Comissão de Valores Mobiliários (CVM) publicou o estudo “A agenda ASG e o mercado de capitais – Uma análise das iniciativas em andamento, os desafios e oportunidades para futuras reflexões da CVM”. O estudo trata sobre a relação entre a agenda ambiental, de regulação, social e de governança […]
B3 Believes that SPACs are viable in Brazil
By: André Jerusalmy SPACs, also known as “blank check” IPOs, are already well-known in the American financial market (Nasdaq), as they are one of the most flexible ways of raising funds to carry out an IPO (initial public offering). This type of fundraising is not yet available in Brazil, but it already has […]
CVM changes crowdfunding rules
By: André Jerusalmy On April 27, 2022, the Brazilian Securities and Exchange Commission (“CVM”) released Resolution CVM 88, which substantially modifies the rules regarding public offerings of small companies. The new resolution seeks to facilitate and improve the current rules for “crowdfunding”, which is a method of raising funds through […]
Debenture market on the rise in the first quarter of 2022
By: André Jerusalmy The conflict between Russia and Ukraine has generated global instability. Since the beginning of the war, the scarcity of energy sources and the increase in the price of oil and commodities have contributed to the escalation of prices in the world and in Brazil. In the first quarter alone, the values issued show an increase of […]
CVM Ratifies the Common Market Council of Mercosur Decision Regarding Accounting Standards
By: André Jerusalmy On March 22 and 23, 2021, the Brazilian Securities and Exchange Commission (CVM) issued Resolutions No. 68 and 69. Resolution 68 deals with the replacement of CVM Resolution 659, ratifying the incorporation of Decision 31/10 of the Common Market Council of Mercosur, while Resolution […]
CVM presents results of actions developed in partnership with B3
By: André Jerusalmy The Brazilian Securities and Exchange Commission (“CVM”) and B3 began, in 2021, cooperation agreement activities for the supervision of public offerings of securities distributed with restricted efforts, which occur according to the rules of CVM Instruction 476. This agreement, which was signed in December 2020 and has a duration of […]
Impacts of CMN resolution 4,948 on the Derivatives Market
By: André Jerusalmy Derivatives can be used in a variety of ways and their use is widely known in the financial market. However, there are two most common forms of derivatives: protection (hedge) or leverage (speculation). While protection against market risk can reduce the effects resulting from fluctuations in asset prices […]
Public Hearing on Insider Trading in Real Estate Funds
By: André Jerusalmy On December 14, 2021, CVM put on the agenda the proposal to change CVM Instruction 472, which deals with Real Estate Investment Funds (“FIIs”) to include an express prohibition on the use of privileged information in the trading of shares of such Funds. The basis is based on […]
