RegAlertRule · CVM · 10 Sep 2012
CVM Instruction No. 525 of September 10, 2012
CVM Instruction No. 525 amends CVM Instructions No. 400 and No. 480, entering into force on November 1, 2012. It mandates that the CVM issue compliance statements within three business days for public offerings of shares or depositary receipts, and within ten business days for other offerings. Similarly, the SEP must provide compliance statements and approve registration requests within three business days for concurrent share or depositary receipt offerings, and ten business days in other cases. If deficiencies causing suspension are not cured by the deadline, the CVM shall deny the registration request.
CVM INSTRUCTION NO. 525, OF SEPTEMBER 10, 2012
Amends provisions of CVM Instruction No. 400, of December 29, 2003, and CVM Instruction No. 480, of December 7, 2009.
The INTERIM PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on September 4, 2012, based on the provisions of Articles 4, item VI, 8, item I, 19, § 5, 21 and 22, of Law No. 6,385, of December 7, 1976, APPROVED the following Instruction:
Art. 1 Article 16 of CVM Instruction No. 400, of December 29, 2003, shall be effective with the following wording:
“Art. 16 ...
...
§ 2 The deadline for the CVM’s statement regarding compliance with the requirements in response to the office mentioned in § 1 is:
I – 3 (three) business days, counted from the date of filing, for public offerings of shares or depositary receipts of shares; and II – 10 (ten) business days, counted from the date of filing, for other offerings.
CVM INSTRUCTION NO. 525, OF SEPTEMBER 10, 2012
§3 Upon expiration of the period referred to in § 1 without the deficiencies that determined the suspension having been cured, the CVM shall deny the respective registration request.
§4 In the event of denial, the CVM will send an office to the lead institution, with a copy to the offeror, informing its decision, from which an appeal may be filed to the CVM Collegiate Board, in accordance with current regulations.
§5 The documents that accompanied the registration request shall be archived at the CVM.”(NR)
Art. 2 Article 5 of CVM Instruction No. 480, of December 7, 2009, shall be effective with the following wording:
“Art. 5 ...
...
§ 6 The deadline for the SEP’s statement regarding compliance with the requirements in response to the office mentioned in § 4 and for the approval of the registration request is:
I – 3 (three) business days, counted from the date of filing, in the case of a concurrent request for registration of a public offering of shares or depositary receipts of shares; and
2
CVM INSTRUCTION NO. 525, OF SEPTEMBER 10, 2012
II – 10 (ten) business days, counted from the date of filing, in other cases.
...
”(NR)
Art. 3 This Instruction enters into force on November 1, 2012.
Original signed by
OTAVIO YAZBEK
Interim President
3
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The links and the sentences they come from (2)
- Amends
“Amends provisions of CVM Instruction No. 400, of December 29, 2003, and CVM Instruction No. 480, of December 7, 2009.”
“Amends provisions of CVM Instruction No. 400, of December 29, 2003, and CVM Instruction No. 480, of December 7, 2009.”
Mentions (1): 1 document mentions this one without changing it
- Referred to by
“XXI – CVM Instruction No. 525, of September 10, 2012;”
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