Regulatory Alerts2011-09-27
CVM Instruction 505: Norms and Procedures for Securities Operations in Regulated Markets
The Brazilian Securities and Exchange Commission (CVM) issued Instruction 505 to establish the norms and procedures applicable to securities transactions conducted in regulated markets. This regulation explicitly revoked several prior instructions and deliberations, including Instructions 122/90, 348/01, and 387/03, to consolidate the regulatory framework for market intermediaries. Although the instruction was subsequently amended by Instructions 526/12, 581/16, and 612/19, it was ultimately revoked by Resolution 35/21.
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