Regulatory Alerts2014-10-25
CVM Resolution No. 523 of July 13, 2007
The Brazilian Securities and Exchange Commission (CVM) issued Resolution No. 523 to amend Article 11 of CVM Resolution No. 457 of 2002. The amendment mandates that after the submission of defenses, case files must be forwarded to the Collegiate Body for the random selection of a Reporting Director. This regulation entered into force on the date of its publication in the Official Gazette of the Union.
CVM RESOLUTION NO. 523, OF JULY 13, 2007
Amends CVM Resolution No. 457, of December 23, 2002.
THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Body, in a meeting held on this date, based on arts. 8, item I, and 9, § 2, of Law No. 6,385, of December 7, 1976,
DELIBERATED:
Art. 1 The art. 11 of CVM Resolution No. 457, of December 23, 2002, shall be in effect with the following wording:
“Art. 11. After the submission of defenses, the case files shall be forwarded to the Collegiate Body, for the random selection of a Reporting Director. ................................................................................................” (NR)
Art. 2 This Resolution enters into force on the date of its publication in the Official Gazette of the Union.
Original signed by MARCELO FERNANDEZ TRINDADE President