Regulatory Alerts2020-05-14
CVM Instruction No. 625 of May 14, 2020
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 625 to regulate remote participation and voting in bondholder assemblies, allowing for fully or partially digital meetings. The regulation mandates specific disclosure requirements in summoning notices, establishes procedures for remote voting instructions, and defines the technical standards for electronic systems used during these assemblies. It also amends previous instructions to align securitization and commercial note assemblies with these new digital participation rules and sets penalties for non-compliance.
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