CVM Resolution No. 470 of July 22, 2004

CVM RESOLUTION NO. 470, OF JULY 22, 2004.
Amends CVM Resolution No. 457, of December 23, 2002.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on July 19, 2004, based on art. 9, § 2, of Law No. 6,385, of December 7, 1976, and taking into account the provisions of Resolution No. 454, of November 16, 1977, as amended by Resolution No. 2,785, of October 18, 2000, both of the National Monetary Council,

DELIBERATED:

Art. 1 - Arts. 11, 12, 13, 14, 15, 16, 18, 19, 20, 21, 22 and 27 of CVM Resolution No. 457, of December 23, 2002, shall enter into force with the following wording:

Art. 11 - After the submission of defenses, the records shall be forwarded to the Collegiate Body for the drawing of a Reporting Member. (NR)

Art. 12 - It shall be incumbent upon the Reporting Member to grant or deny requests for evidence formulated in the accused's defense, as well as to preside over the necessary proceedings for their production, if granted. (NR)

Art. 13 - The Reporting Member is authorized to determine the carrying out of proceedings, in addition to those possibly requested by the accused. (NR)

Art. 14 - The proceedings, when necessary, shall be carried out by the Commission that instructed the inquiry or by any of the Superintendencies, at the discretion of the Reporting Member. (NR)

Art. 15 - From the decision of the Reporting Member that denies a request for proceedings formulated by the defense, an appeal may be filed separately to the Collegiate Body, through a petition presented within 5 (five) days counted from the knowledge of the Reporting Member's decision. (NR)

Art. 16 - The Collegiate Body may review the Reporting Member's decision, determining the production of the evidence requested by the defense. (NR)

Art. 18 - The accused, regardless of whether or not they accompanied the production of evidence, shall be granted a period of 15 (fifteen) days to, if they wish, manifest themselves regarding the same, whether they were produced at their request, by decision of the Reporting Member or the Collegiate Body. (NR)

Art. 19 - The Reporting Member, if deemed necessary, may request the Legal Counsel's Office to provide an opinion on the accusation formulated and on the reasons for the defense. (NR)

CVM RESOLUTION NO. 470, OF JULY 22, 2004.
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Art. 20 - Upon the definitive dismissal of a Reporting Member, the administrative inquiries under their reporting shall be grouped in chronological order and redistributed, provisionally, in equal quantities, to the other members of the Collegiate Body, observing the provisions of art. 34-A. (NR)

Art. 21 - It shall be incumbent upon the member of the Collegiate Body who assumes the vacant position, in a definitive manner, except in the case of impediment, the condition of Reporting Member of the inquiries attributed to their predecessor. (NR)

Art. 22 - In cases of impediment of the new member of the Collegiate Body, the member of the Collegiate Body to whom such procedures were provisionally redistributed shall remain as the Reporting Member of the administrative inquiries, in a definitive manner, compensating for such occurrence in future distributions. (NR)

Art. 27 - The Reporting Member may, at their discretion, make the process report available to the parties and the other members of the Collegiate Body before the judgment session, being dispensed from reading the report in said session. (NR)

Art. 2 - The following art. 34-A is added to CVM Resolution No. 457/02:

Art. 34-A - In the drawing referred to in art. 11, the inclusion of the President shall be made in such a way that processes are assigned to him in a number equivalent to half of those distributed to each of the other members of the Collegiate Body. (AC)

Art. 3 - Art. 26 of CVM Resolution No. 457/02 is revoked.

Art. 4 - This Resolution enters into force on the date of its publication in the Official Gazette of the Union.

Original signed by
MARCELO F. TRINDADE
President