CVM Resolution No. 38 of June 29, 2021

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
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CVM RESOLUTION NO. 38, OF JUNE 29, 2021

Redefines, temporarily and on an experimental basis, the deadline and competencies for the CVM's decision regarding appeals against decisions issued in relation to the loss reimbursement mechanism.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION OF BRAZIL – CVM makes public that the Collegiate Board, in a meeting held on June 16, 2021, in view of the provisions of Art. 8, item I, and Art. 18, item I, letter "f" of Law No. 6,385, of December 7, 1976, and of Art. 17 of CVM/PTE Ordinance No. 190, of November 6, 2019, APPROVED the following Resolution:

Art. 1 The deadline for the CVM's decision on an appeal against a decision that denied a request submitted to the loss reimbursement mechanism, governed by § 1 of Art. 83 of CVM Instruction No. 461, of October 23, 2007, is up to 180 (one hundred and eighty) business days, counted from the date of filing the appeal with the market entity or with the entity constituted or contracted for this purpose in accordance with § 2 of Art. 77 of CVM Instruction No. 461, of 2007.

Art. 2 The decision on the appeal governed by the sole paragraph of Art. 82 of CVM Instruction No. 461, of 2007, is competent:

I – to the Collegiate Board, in cases where the Head of the Market Relations and Intermediaries Superintendency – SMI, after analyzing the appeal, concludes:

a) that the appeal is granted in whole or in part; or

b) that submitting the appeal to the Collegiate Board for deliberation is justified because it involves an innovative aspect or an understanding not yet settled on the matter; and

II – to the Head of the SMI, in other cases.

Art. 3 No appeal to the Collegiate Board is allowed against decisions by the Head of the SMI governed by item II of Art. 2.

Art. 4 This Resolution enters into force on August 1, 2021.

Signed electronically by
Marcelo Barbosa
President