Finance & Capital Market Newsletter – April

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Posted: 05/25/2021

Madrona News – Finance & Capital Market Newsletter

CVM guides interested in obtaining registration of securities consultants

On April 7, 2021, the Institucional Investor Supervision Superintendence (“SIN”) of the Brazilian Securities and Exchange Commission (“CVM”), released the Circular Letter CVM/SIN 4/2021, which forwards interested parties to acquire registration of securities consultants.

The technical area created a guide with operational details on the new automatic accreditation process. Some of the highlights are: registration canceled, registration changes, automatic authorization and the new system and rules of CVM Resolution 19.

For more information, access the details in Ofício Circular CVM/SIN 4/21.

News Link: https://www.gov.br/cvm/pt-br/assuntos/noticias/cvm-orienta-interessados-em-obter-registro-de-consultores-de-valores-mobiliarios

CVM waives the need to submit a subscription Bulletin

On April 8, 2021, the Brazilian Securities and Exchange Commission (“CVM”) edited the CVM Resolution 27, which dispenses the presentation of the subscription bulletin in public offerings for the distribution of securities settled through the system administered by management entities organized securities markets and provides for the presentation of an acceptance document in the context of public offers.

The resolution determines that in offers where the subscription form is not used, the intermediary must adopt procedures that he deems necessary to formalize the offer acceptance document. The document is dispensed, on an experimental basis, in the case of institutional investors.

In addition, the Resolution revoked CVM Deliberation 860, which delegated competence to the SRE to dispense with the submission of the subscription bulletin, provided that the offer acceptance document is presented.

The rule came into force on May 3, 2021. For more information, access the details in Resolução CVM 27.

News Link: https://www.gov.br/cvm/pt-br/assuntos/noticias/cvm-dispensa-a-apresentacao-de-boletim-de-subscricao

The Central Bank of Brazil (“BCB”) modernizes rules on payment arrangements

On April 22, 2021, Resolution BCB No. 89 was published, which improves the regulation on payment arrangements, where refers to a set of procedures and rules that govern the provision of payment services, such as those performed through credit card usage, for example. The new rules improve certain aspects of the regulatory scope related to the topic.

Among other forecasts, another improvement brought about by this standard concerns receivables from payment arrangements. BCB Resolution no. 89 makes the rules for settlement of transactions more flexible, allowing the settlement of prepayment of these receivables to be made at any time of the day, every day of the week.

For more information, access the details in Resolução BCB nº 89.

News Link: https://www.bcb.gov.br/detalhenoticia/534/noticia