Regulatory Alerts2016-09-28
CVM Instruction No. 581 of September 29, 2016
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 581 to amend Article 25 of CVM Instruction No. 505. The amendment updates the regulatory text to specify exclusions for financial institutions and persons linked to intermediaries in organized markets or public offerings where the intermediary does not participate. This instruction entered into force on the date of its publication.
SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Seven de Setembro Street, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – CEP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br
CVM INSTRUCTION NO. 581, OF SEPTEMBER 29, 2016
Amends provisions of CVM Instruction 505, of September 27, 2011.
THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION OF BRAZIL – CVM makes public that the Collegiate Board, in a meeting held on September 13, 2016, based on items "a" and "c" of item II of Article 18 of Law No. 6,385, of December 7, 1976, APPROVED the following Instruction:
Art. 1. Article 25 of CVM Instruction No. 505, of September 27, 2011, shall be effective with the following wording:
“Art. 25. ............................................. § 1. ...................................................... I – to financial institutions and entities equivalent to them; II – to persons linked to the intermediary, regarding operations in an organized market where the intermediary is not an authorized person to operate; and III – to persons linked to the intermediary, regarding operations where the intermediary does not participate in the distribution of securities offered to the public. ............................................................. ” (New wording)
Art. 2. This Instruction enters into force on the date of its publication.
Signed original by LEONARDO P. GOMES PEREIRA President