Regulatory Alerts2014-10-25
CVM Resolution No. 486 of August 17, 2005
The Brazilian Securities and Exchange Commission (CVM) issued Resolution No. 486 to amend the procedures for settlement agreements (termo de compromisso) under Resolutions 390/2001 and 457/2002. The resolution establishes strict timelines for submitting settlement proposals, mandates review by a dedicated Committee, and requires the Committee to negotiate terms and issue opinions before the CVM Collegiate Board makes a final decision. It also clarifies that the appointment of a rapporteur is suspended if a settlement is celebrated, ensuring administrative efficiency in enforcement proceedings.
Share