Regulatory Alerts2015-07-31
Added · Updated
CVM Instruction 566 (Revoked) - Public Offering of Promissory Notes
CVM Instruction 566 establishes the rules for the public distribution of promissory notes, requiring full payment at issuance and limiting maturity to a maximum of 360 days per series. It introduces an automatic registration process for registered issuers, restricting these offerings exclusively to qualified investors and prohibiting public advertising materials. The instruction also permits early redemption, mandates the use of a trust agent or note agent, and repeals several prior CVM instructions while setting an effective date of October 1, 2015.
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