Regulatory Alerts2014-10-25
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CVM Resolution No. 105 of January 22, 1991
The Brazilian Securities and Exchange Commission (CVM) issued Resolution No. 105 to establish norms for the constitution of securities brokerage and distribution companies. The resolution formally recognizes securities distribution companies authorized by the Central Bank of Brazil as authorized by the CVM under Resolution No. 1,120. It also approves securities brokerage companies authorized by the Central Bank of Brazil under the provisions of Resolution No. 1,655.
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