CVM Instruction No. 113 of March 13, 1990 (Revoked)

FULL TEXT OF CVM INSTRUCTION NO. 113, OF MARCH 13, 1990, WITH CHANGES INTRODUCED BY CVM INSTRUCTIONS NOS. 119/90 AND 125/90.
CVM INSTRUCTION NO. 113, OF MARCH 13, 1990.

Provides for coercive fines.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a session held on this date, and in accordance with the competence provided for in Article 9, II, and Article 11 of Law No. 6,385, of December 7, 1976,

HAS DECIDED:

Art. 1. The following shall be subject to a coercive fine of 69.20 BTN (sixty-nine National Treasury Bonds and twenty hundredths), imposed by the Securities and Exchange Commission, per day of delay in fulfilling the deadlines provided for in the respective normative acts:

I - The institutions administering the Equity Mutual Funds (Article 44 of the Regulation annexed to RESOLUTION No. 1,280, of March 20, 1987, of the National Monetary Council);

II - The Investment Societies - Foreign Capital, the institutions administering the Investment Funds - Foreign Capital, and the Portfolios of Securities and Financial Assets maintained in the country by entities mentioned in Article 2 of DECREE-LAW No. 2,285/86 (respectively, art. 35 of Regulation Annex I to Resolution 1,289, of March 20, 1987, of the National Monetary Council; art. 52 of Regulation Annex II of that Resolution; and art. 33 of Regulation Annex III of the cited Resolution);

III - The institutions administering the Conversion Funds - Foreign Capital (art. 55 of INSTRUCTION No. 91, of December 6, 1988, of the Securities and Exchange Commission);

IV - The Broker-Dealer Societies (§ 3 of art. 7 of CVM Instruction No. 105, of October 26, 1989 and § 4 of art. 6 of CVM Instruction No. 117, of May 3, 1990, with the wording given by CVM Instruction No. 125, of July 4, 1990). (NR)

• Item IV with wording given by CVM Instruction No. 125, of July 4, 1990.

V - The Distributor Societies (§ 3 of art. 7 of INSTRUCTION No. 105, of October 26, 1989, of the Securities and Exchange Commission); and

V - The Distributor Societies (§ 4 of art. 6 of CVM Instruction No. 116, with the wording given by CVM Instruction No. 119). (NR)

• Item V with wording given by CVM Instruction No. 119, of May 31, 1990.

CVM INSTRUCTION NO. 113, OF MARCH 13, 1990.
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VI - The Stock Exchanges (art. 5, § 2 of art. 10, § 4 of art. 11 and art. 71 of RESOLUTION No. 1,656, of October 26, 1989, of the National Monetary Council) and the Futures Exchanges (§ 1 of art. 10 of Instruction No. 104, of October 26, 1989, of the Securities and Exchange Commission).

Art. 2. The fine shall apply from the first business day subsequent to the end of the deadlines provided for in the respective normative acts, regardless of summons, and shall be imposed without prejudice to the responsibility of the administrators, in accordance with art. 11 of Law No. 6,385/76.

Art. 3. From the notification of the application of the fine, an appeal may be filed with the Collegiate Body in accordance with CVM DELIBERATION No. 07, of October 25, 1979, except for the deadline for its filing, which shall be 10 (ten) days.

Art. 4. This Instruction shall enter into force on the date of its publication in the Official Gazette of the Union.

Signed original by
MARTIN WIMMER
President