CVM Instruction No. 379 of November 12, 2002

CVM INSTRUCTION NO. 379, OF NOVEMBER 12, 2002.

Provides for the obligation to provide information on securities transactions to the Securities and Exchange Commission – CVM, by stock exchanges, commodity and futures exchanges, organized over-the-counter market entities, and clearing and settlement entities for securities transactions.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Body, in a meeting held on this date, based on art. 4, items III, V and VII, art. 8, item III, and art. 17, § 1 of Law No. 6,385 of December 7, 1976, HAS DECIDED to issue the following Instruction:

Art. 1 Stock exchanges, commodity and futures exchanges, organized over-the-counter market entities, and clearing and settlement entities shall, when requested, forward to the CVM information related to securities transactions.

Sole Paragraph. For each information request, the CVM will define:
I – the delivery deadline;
II – the manner in which the information will be provided, which may be, among other means, by magnetic medium or data transmission; and III – the level of detail of the information, including the specification of final principals.

Art. 2 The persons mentioned in Art. 1 of this Instruction, within the scope of their respective competencies, are obliged to forward to the CVM:
I - daily, until the following day:
a) report of operations that were submitted to auction, containing any interference that occurred, as well as cancelled operations; b) balance report of positions in the future settlement market, with indication of covered and uncovered positions, individualized by broker, segregating the positions of the own portfolio from the positions of each client; and

c) in the case of commodity and futures exchanges, reports with the daily movement of the trading system and electronic negotiation and registration systems, with identification of intermediaries and final principals.

II – monthly, until the fifth business day of the following month:
a) descriptive report on the non-observance of current legal norms in the securities market and operational deviations that occurred in auctions, electronic negotiation and registration systems, mentioning analyses initiated and concluded during the period, with indication of principals involved, as well as measures adopted; and b) report on audits concluded during the period, mentioning audited intermediaries, the scope of work performed, the period covered, the final result, and measures adopted.

§1 The provision in item “a” of item I of this article does not apply to reports sent by commodity and futures exchanges, regarding interferences that occurred in operations that are submitted to auction.

§2 In the event that audits detect indications or irregularities, a complete copy of the respective reports, mentioning the measures adopted, shall be forwarded to the CVM within a maximum period of 5 (five) business days.

Art. 3 Non-compliance with the obligations set forth in this Instruction will result in the application of a daily fine of up to R$ 1,000.00 (one thousand reais), in accordance with § 11, of art. 11, of Law No. 6,385/76, without prejudice to the application of the penalties provided for in art. 11 of the same Law.

Art. 4 This Instruction enters into force on the date of its publication in the Official Gazette of the Union, revoking CVM Instruction No. 252, of July 11, 1996.

Signed original by
LUIZ LEONARDO CANTIDIANO
President