Capital markets
A few months after Law No. 13,506/2017 coming into force and a broad debate with various market participants, the Brazilian Securities and Exchange Commission (CVM) submitted for public hearing a draft new instruction that will regulate its sanctioning activity, therein adapting it to the new legislation. Comments can be presented until August 17, 2018.
The new version of the Issuer Manual approved by the Brazilian Securities and Exchange Commission (CVM) aligns mechanisms for disclosure of material facts with the changes introduced in CVM Instruction No. 358/2002 by CVM Instruction No. 590/2017, which amended paragraph 2 of article 5 of the previous text, now in force with the following wording:
Like what occurred in the Industrial Revolution in the nineteenth century, the world is now facing a new revolution, where technology has transformed traditional ways of working, moving, and living, at a speed that is difficult to follow.
In July, the Brazilian Securities and Exchange Commission (CVM) issued regulations pertaining to public offerings of securities on crowdfunding platforms (collaborative financing).
The changes in the rules of the B3 (Brasil, Bolsa, Balcão) segment called Novo Mercado, approved in June by listed companies, will now be submitted to the Brazilian Securities Commission (CVM) for approval. After this stage, companies will be notified of the final content of the regulation and the deadline for complying with the new rules.
Offering safe alternatives for companies and investors to carry out investments and raise funds is undoubtedly crucial in fostering Brazil's economic activity and capital markets, especially in a crisis scenario.
It has almost been one year since the decision of the Brazilian Securities Commission (CVM) Board that authorized Inepar to proceed with a private capital increase through the capitalization of unsecured credits and with real state guarantees held against it, by means of an intermediary, the commission agent, as subscriber of the shares to be issued in the process.
LISTING OF SECURITIES ON DIFFERENT MARKETS – OBSTACLES AND IMPROVEMENTS, by Eliana Ambrósio Chimenti
Much has been said about the trading of shares issued by foreign companies in the brazilian securities market.
CORNERSTONE INVESTORS AND THEIR INVOLVEMENT IN STOCK ISSUES, by Eliana Ambrósio Chimenti
Although there is no previously set out legal figure that applies to a cornerstone investor under Brazilian regulations, these investors have played a significant role in developing stock markets in certain countries such as China, and since 2006 they have been significantly boosting market responsiveness to IPOs.
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