Aggregated News From Investment Management Regulators

CVM presents results of actions developed in partnership with B3

Report/Flag

Please complete the required fields.



This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here.

In 2021, the Brazilian Securities and Exchange Commission (CVM) and B3 started the activities of a cooperation agreement for the supervision of public offerings of securities distributed with restricted efforts  which take place according to the rules of CVM Instruction 476. This agreement, signed in December/2020 and with an initial duration of 60 months, it includes joint monitoring and inspection activities for compliance with certain regulatory requirements. 

informational enhancement

During 2021, dozens of inspection actions were carried out as a result of this partnership. Among the results obtained in the scope of supervision regarding the disclosure of financial statements by unregistered issuers, in the case of securities admitted to secondary trading on regulated markets,  the informational improvement of issues stands out  , providing greater transparency for the market . It is noteworthy also the issue of 15 warning letters to several of these issuers not recorded, and considerad the  positiv to  and satisfatóri to due  to s corrective actions taken by the regulated.

sanctioning actions

Another item encompassed by the agreement and which generated events in the period was the  identification and supervision of non-compliance with the minimum limit of four months between two public offerings distributed with restricted efforts for the same type of security . In this regard, different sanctioning actions were carried out, which involved both issuing warning letters and instituting sanctioning administrative proceedings. 

compliance with rules

 The CVM emphasizes the importance of the regulated companies being always attentive to the regulatory requirements related to offers distributed with restricted efforts, in order to ensure the efficiency of the capital market and avoid possible inspection actions by the CVM. 

Source link

Regulator Information

Abbreviation: CVM
Jurisdiction: Brazil

Recent Articles

The SEC Levels Up: Statement on In re Activision Blizzard

Feb. 3, 2023 Today, the Commission announced a $35 million settlement with Activision Blizzard Inc. (“Activision Blizzard”).

Mr William Stephen Cairns (date of Birth 15 January 1949) of Key West, Doyle Road, St Peter Port Guernsey GY1 1RG — GFSC

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 July

Mr Du Preez Gert Vermeulen (Date of Birth 5 August 1987) of Doyle Court, Doyle Road, St Peter Port Guernsey GY1 1RD

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 Mar

Publication of a Notice of the fact of a Prohibition Order and a Discretionary Financial Penalty — GFSC

On 2 February 2023, the Commission imposed discretionary financial penalties as follows:  Mr William Stephen Cairns (“Mr Cairns”) a financial penalty of £133,000; and  Mr Du Preez Gert Vermeulen (“M

Get the latest from Regulatory.News in your inbox!

×