Regulatory Alerts2014-10-25
CVM Instruction No. 274 of March 12, 1998
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 274 to amend Articles 18, 22, and 23 of CVM Instruction No. 202/93 and revoke specific provisions of CVM Instruction No. 245/96 and CVM Deliberation No. 210/97. The regulation establishes daily monetary fines for publicly-held companies failing to submit required financial statements and reports, with penalties ranging from R$200 to R$500 depending on the specific omission. It further mandates that standardized financial statements, annual information, and quarterly information be submitted via magnetic media using CVM-provided software, while other periodic and occasional information must be printed on A4 paper in duplicate.
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