CVM Instruction No. 544 of December 20, 2013

CVM INSTRUCTION NO. 544, OF DECEMBER 20, 2013

Amends CVM Instruction No. 461, of October 23, 2007.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on December 10, 2013, and based on the provisions of Articles 2, § 4, and 8, I, of Law No. 6,385, of December 7, 1976, and Article 28 of Law No. 12,810, of May 15, 2013,

APPROVED the following Instruction:

Art. 1 Articles 1, 92, and 110 of Instruction No. 461, of October 23, 2007, shall enter into force with the following wording:

“Art. 1 ......

Sole Paragraph. This Instruction also covers, in the form of Article 92, the provision of services referred to in § 4 of Article 2 of Law No. 6,385, of December 7, 1976, and in Article 28 of Law No. 12,810, of May 15, 2013, with respect to the registration of securities, which shall be exclusive to entities administering organized over-the-counter markets.” (NR)

“Art. 92. ......

......

Sole Paragraph. The authorization for the organized over-the-counter market to operate through the registration of previously carried out transactions, in the form of item III of the caput, or to provide other securities registration services, in the form of item V of Article 13, is equivalent, observing the limits established therein, to the authorization for the provision of services referred to in § 4 of Article 2 of Law No. 6,385, of 1976, and in Article 28 of Law No. 12,810, of 2013.” (NR)

“Art. 110. ......

......

§ 4 In cases where the activity is subject to the recommendations and principles formulated by the Committee on Payments and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO), the administering entity must also present a document proving compliance with those recommendations and principles.

§ 5 The Superintendence of Market and Intermediary Relations – SMI shall define the format and minimum content of the document referred to in the preceding paragraph, as well as the frequency for its update after obtaining authorization.” (NR)

Art. 2 This Instruction enters into force on the date of its publication.

Signed original by
LEONARDO P. GOMES PEREIRA
President