CVM Instruction No. 533 of April 24, 2013

CVM INSTRUCTION NO. 533, OF APRIL 24, 2013

Amends and adds provisions to CVM Instruction No. 400, of December 29, 2003.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on April 8, 2013, based on the provisions of Articles 4, item VI, 8, item I, 19, § 5, and 21 of Law No. 6,385, of December 7, 1976, APPROVED the following Instruction:

Art. 1 Article 48 of CVM Instruction No. 400, of December 29, 2003, shall be effective with the following wording:

“Art. 48. ...
...
II – refrain from trading, until the publication of the Closing of Distribution Announcement, securities of the same issuer and of the same type as those subject to the public offering, referenced therein, convertible or exchangeable, or securities in which the security subject to the offering is convertible or exchangeable, except in the following cases:
... e) operations intended to protect positions assumed in derivatives contracted with third parties; f) operations carried out as a market maker, in accordance with the applicable regulations;

g) discretionary administration of third-party portfolios; h) acquisition of securities requested by clients for the purpose of providing liquidity, as well as the alienation of securities thus acquired; i) arbitrage between:
1. securities and their depositary receipts; or
2. market index and futures contract referenced therein; and
j) operations intended to fulfill obligations assumed before the start of the prohibition period arising from:
1. securities lending;
2. exercise of call or put options by third parties; or
3. forward purchase and sale contracts.
...
§ 4 The persons referred to in § 2 must prepare, within 7 (seven) business days counted from the publication of the Closing of Distribution Announcement, and maintain, for a period of 5 (five) years or for a longer period as expressly determined by the CVM, in case of administrative proceeding, the report referred to in Annex XI, as well as all documentation supporting it.

§ 5 The provisions of item II of the caput do not apply to public offerings registered under the Continuous Distribution Program.

§ 6 The prohibition provided for in item IV of the caput is restricted to information related to the offering in public offerings registered under the Continuous Distribution Program.” (NR)

Art. 2 CVM Instruction No. 400, of 2003, shall be effective with the addition of Annex XI, as per Annex A to this Instruction.

Art. 3 This Instruction enters into force on the date of its publication.

Signed original by
LEONARDO P. GOMES PEREIRA
President

ANNEX A to CVM Instruction No. 533, of April 24, 2013.

ANNEX XI
SECURITIES OPERATIONS REPORT

All operations subject to the exception provided for in Article 48, item II, must be reported, discriminating:

1. the security, with its type and class, if applicable;
2. the market where the operation was contracted and settled;
3. the date of the operation;
4. the type of operation (purchase or sale);
5. whether the operation was carried out in the portfolio of intermediary institutions, their subsidiaries, holding companies, and companies under the same control, or whether it was carried out in a third-party portfolio;
6. the modality of the operation, according to the following criteria:
   6.1 execution of a stabilization plan;
   6.2 total or partial alienation of a lot of securities subject to firm underwriting;
   6.3 trading on behalf and for the order of third parties;
   6.4 operations clearly intended to track an index;
   6.5 operations intended to protect positions assumed in derivatives contracted with third parties;
   6.6 operations carried out as a market maker;
   6.7 discretionary administration of third-party portfolios;
   6.8 acquisition of securities requested by clients for the purpose of providing liquidity;
   6.9 total or partial alienation of a lot of securities acquired in an operation permitted by Article 48, item II, letter “h”;
   6.10 operations resulting from arbitrage strategies permitted by Article 48, item II, letter “i”;
   6.11 operations resulting from securities lending, exercise of call or put options by third parties, or forward purchase and sale contracts.
   6.12 others (specify).
7. the quantity of securities traded;
8. the unit value at which the security was traded.