Circular Letter CVM/SMI No. 03/2007

Securities bookkeeping service providers must provide deposit account statements to holders or their proxies at any time and free of charge. Charges for transferring book-entry securities are permitted only if explicitly authorized in the company's bylaws. Failure to comply with these requirements subjects violators to penalties under Article 11 of Law No. 6385/76.

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CIRCULAR LETTER CVM/SMI No. 03/2007
Rio de Janeiro, August 28, 2007.
SUBJECT: Issuance of statements and charging of fees for the transfer of book-entry securities.

Dear Sirs,

Considering the provisions of Article 35 of Law No. 6404/76 and Article 13, Item I, of CVM Instruction No. 89/88, we hereby alert securities bookkeeping service providers that:

The statement of the book-entry securities deposit account must be provided at any time and free of charge, whether to the holder or to their duly authorized proxy;
The charging of a fee for the transfer of book-entry securities may only occur if such fee is authorized in the company's bylaws.

Failure to comply with the aforementioned provisions will subject the offender to the penalties listed in Article 11 of Law No. 6385/76.

Sincerely,

Signed original by
WALDIR DE JESUS NOBRE
Superintendent of Market Relations and Intermediaries

Lineage: In force

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Source: Comissão de Valores Mobiliários — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works