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
Por André Jerusalmy A Comissão de Valores Mobiliários (CVM) editou no último dia 10 de fevereiro de 2022, a Resolução CVM no 65, que altera as Resoluções CVM 45 e 46 e que regulam, respectivamente, o rito dos procedimentos relativos à atuação sancionadora no âmbito da CVM e a tramitação de processos administrativos não sancionadores […]
Digital Investment Influencers are in the CVM’s sights
By: André Jerusalmy Social media is full of digital influencers, and many of these influencers deal with one of the most sensitive topics of all: investors’ pockets. With tips and recommendations on all types of investments, including very high-risk investments, such as operations in futures markets and with leverage (especially day […]
CVM Fines Autonomous Investment Agent
By: André Jerusalmy On September 21, 2021, the Brazilian Securities and Exchange Commission (“CVM”) judged the Administrative Sanctioning Proceeding CVM SEI 19957.000520/2020-01 (RJ2020/01227), which analyzed an accusation attributed to an independent investment agent (“AAI”) accused of receiving client funds in his personal account, thus violating art. 13, II of CVM Instruction No. […]
