Regulatory Alerts2020-05-05
CVM Instruction No. 623 (Repealed)
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 623 to amend CVM Instruction No. 481 by updating Article 21-E to mandate that public companies retain the recordings specified in Article 21-C, § 1º, II, for the same duration as other required disclosures. This amendment legally binds issuers to preserve these records alongside standard reporting obligations, ensuring complete audit trails for regulatory compliance. The instruction entered into force immediately upon its publication on May 5, 2020.
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