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 […]
Independent Investment Agents are closer to the Investing Partners
By: André Jerusalmy The National Monetary Council (CMN) made the decision that now allows autonomous investment agents (AAI) to organize themselves as business corporations – without the restriction of being a group of professionals – meeting one of the main demands of the sector, which was the possibility of attracting investments by […]
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 […]
Reduction of the Minimum Percentage of Shareholding Required to Exercise Certain Rights
By: André Jerusalmy On March 22, 2022, CVM Resolution 70 was issued, which established the scale for reducing the minimum percentage of shareholding required to exercise rights provided for in Law No. 6,404/76 (Corporations Law), repealing CVM Instructions No. 165, of December 11, […]
List of Countries at Risk to the Financial System
By: André Jerusalmy The CVM (Brazilian Securities and Exchange Commission) released at the beginning of November the CVM Report 04/21: GAFI/FATF Communication, which provides for the Financial Action Task Force against Money Laundering and the Financing of Terrorism (informal international grouping), in which the autarchy deals with the countries and jurisdictions that must be monitored in a […]
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 […]
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 […]
CVM promotes specific change in the rules for processing administrative proceedings
By André Jerusalmy On February 10, 2022, the Brazilian Securities and Exchange Commission (CVM) published CVM Resolution No. 65, which amends CVM Resolutions 45 and 46 and regulates, respectively, the procedures for sanctioning activities within the scope of the CVM and the processing of non-sanctioning administrative proceedings […]