CVM Resolution No. 1 of August 6, 2020

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
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CVM RESOLUTION NO. 1, OF AUGUST 6, 2020.
Establishes the nomenclature of acts to be issued by the Securities and Exchange Commission.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Body, in a meeting held on August 5, 2020, based on the provisions of Law No. 6,385, of December 7, 1976, and Decree No. 10,139, of November 28, 2019, APPROVED the following Resolution:

Art. 1 The normative acts issued by the Securities and Exchange Commission are henceforth identified by the following nomenclature:

I – Resolution: to embody acts issued by the Collegiate Body to regulate matters provided for in Law No. 6,385, of December 7, 1976, and Law No. 6,404, of December 15, 1976, as provided in item I of art. 8 of Law No. 6,385, of 1976, as well as in the exercise of other regulatory competencies;

II – Ordinance: to embody acts issued by one or more singular authorities, in the exercise of their regulatory competence; and

III – Normative Instruction: to embody acts that, without innovating, guide the execution of current norms and whose non-compliance implies legal, effective, or potential consequences for the recipients.

Art. 2 The other acts issued by the Securities and Exchange Commission that do not have a regulatory nature are henceforth identified by the following nomenclature:

I – Deliberation: to embody acts:
a) intended for a specifically identified natural or legal person, determining specific actions or abstentions; b) of delegation of internal competencies; and c) others, issued in the exercise of specific competence, in accordance with the Internal Regulations;

II – Guidance Opinion: to embody acts by means of which the CVM Collegiate Body, in accordance with the provisions of art. 13 of Law No. 6,385, of 1976, gives guidance on matters within the CVM's regulatory purview, also serving to convey the CVM's opinions on the interpretation of Law No. 6,385, of 1976, and Law No. 6,404, of 1976, in the interest of the capital markets;

III – Explanatory Note: to embody acts:
a) that make public the reasons why the CVM Collegiate Body approved a specific Resolution or proposed to the National Monetary Council, a matter subject to its decision; and b) that reflect the understanding of the CVM Collegiate Body regarding aspects related to normative acts issued by the CVM;

IV – Circular Letter: to embody acts by means of which the CVM superintendencies give guidance, recommendations, and guidelines, whose non-compliance does not imply legal, effective, or potential consequences for the recipients, regarding the manner of fulfilling obligations imposed by Law No. 6,385, of 1976, by Law No. 6,404, of 1976, by CVM Resolutions, as well as regarding the guidance contained in Normative Instructions, observing Collegiate precedents, if any; and

V – Declaratory Act: to embody acts:
a) by means of which the CVM declares the existence of a right, given its power to accredit or authorize the exercise of activities; and b) intended to alert participants in the securities market and the general public regarding the lack of authorization for a specific person to exercise an activity under the regulatory competence of the CVM;

VI – Personnel Ordinance: to embody acts regarding specifically identified public agents.

Sole Paragraph. The provisions of this article do not limit or exclude the use of other non-regulatory acts by the CVM, nor does it constitute an exhaustive enumeration.

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

Signed electronically by
MARCELO BARBOSA
President