Post by account_disabled on Mar 12, 2024 5:39:03 GMT
This text on Capital Markets is part of the Retrospective , a series of articles on the main facts in different areas of Law and spheres of Justice that occurred in the year ending.
The Securities and Exchange Commission (CVM) and self-regulatory entities were very active in , issuing regulations and discussing new drafts in public hearings with the aim of ensuring greater transparency of information for investors in the Brazilian capital market. The aim of this retrospective in the area of capital markets in is to present the main published rules and minutes of the public hearing under discussion.
The most relevant rule in was CVM Instruction , of December , , which established new rules on registration and information to be provided by issuers of securities. Published to replace the old CVM Instruction , CVM Instruction (or New , as it Austria Phone Numbers List became known) will be applicable to all issuers of securities admitted to trading in regulated markets in Brazil, including foreign ones, with the sole exception of investment funds. investment, investment clubs and some others expressly mentioned in the standard, which remain subject to specific CVM regulation.
CVM Instruction establishes two categories of securities issuers, divided according to the type of securities traded, a qualitative improvement in the information provided to investors and a Reference Form to replace the Annual Information Form (IAN). The information to be included in this Reference Form is similar to that currently required by CVM Instruction , which provides for public offers for the distribution of securities. The public hearing to discuss the draft of CVM Instruction raised some controversial issues, such as the definition of a foreign issuer, the way in which administrators' remuneration is presented and the administrators' responsibility for the information provided. The expectation is that Nova will enable faster access to the capital market for securities issuers and better and more complete information for investors regarding securities issuers.
In , there was a merger between two self-regulatory entities with fundamental participation in the Brazilian capital market, the National Association of Investment Banks (Anbid) and the National Association of Financial Market Institutions (Andima) and the creation of the Brazilian Association of Financial Market Entities Financial and Capital Markets (Anbima).
The Securities and Exchange Commission (CVM) and self-regulatory entities were very active in , issuing regulations and discussing new drafts in public hearings with the aim of ensuring greater transparency of information for investors in the Brazilian capital market. The aim of this retrospective in the area of capital markets in is to present the main published rules and minutes of the public hearing under discussion.
The most relevant rule in was CVM Instruction , of December , , which established new rules on registration and information to be provided by issuers of securities. Published to replace the old CVM Instruction , CVM Instruction (or New , as it Austria Phone Numbers List became known) will be applicable to all issuers of securities admitted to trading in regulated markets in Brazil, including foreign ones, with the sole exception of investment funds. investment, investment clubs and some others expressly mentioned in the standard, which remain subject to specific CVM regulation.
CVM Instruction establishes two categories of securities issuers, divided according to the type of securities traded, a qualitative improvement in the information provided to investors and a Reference Form to replace the Annual Information Form (IAN). The information to be included in this Reference Form is similar to that currently required by CVM Instruction , which provides for public offers for the distribution of securities. The public hearing to discuss the draft of CVM Instruction raised some controversial issues, such as the definition of a foreign issuer, the way in which administrators' remuneration is presented and the administrators' responsibility for the information provided. The expectation is that Nova will enable faster access to the capital market for securities issuers and better and more complete information for investors regarding securities issuers.
In , there was a merger between two self-regulatory entities with fundamental participation in the Brazilian capital market, the National Association of Investment Banks (Anbid) and the National Association of Financial Market Institutions (Andima) and the creation of the Brazilian Association of Financial Market Entities Financial and Capital Markets (Anbima).