CVM Resolution No. 372 of January 23, 2001

CVM RESOLUTION NO. 372, OF JANUARY 23, 2001.
Irregular hiring of brokers in the securities market.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on this date, based on art. 9, §1, item IV, of Law No. 6,385, of December 7, 1976, combined with item I, letter "c", of the National Monetary Council Resolution No. 702, of August 26, 1981,

DELIBERATED:

I - to alert participants in the securities market and the general public that the activities of business brokering and client acquisition in the securities market are exclusive to persons authorized or registered with the CVM as provided in art. 16 of Law No. 6,385, of December 7, 1976;

II - to determine that members of the distribution system referred to in art. 15 of Law No. 6,385/76, as well as administrators of funds disciplined and supervised by the CVM and other agents subject to its police power, refrain from hiring persons not authorized or registered with this agency as per art. 16 mentioned above, for the practice of intermediation activities involving securities, including business brokering and client acquisition, and promote the immediate termination of any contracts of this nature possibly entered into with such unauthorized or unregistered persons, alerting that non-observance of this determination will subject violators to the imposition of a daily fine in the amount of R$500.00 (five hundred reais), without prejudice to liability for infractions possibly already committed before the publication of this Resolution, with the imposition of the appropriate penalty, as per art. 11 of Law No. 6,385/76; and

III - that this Resolution enters into force on the date of its publication in the Official Gazette of the Union.

Original signed by
JOSÉ LUIZ OSORIO DE ALMEIDA FILHO
President