Gabriela de Ávila Machado
Lawyer at Marcos Martins Law Firm
On April 30, 2020, the CVM issued CVM Resolution No. 855, which allows trial sessions to be held exclusively by videoconference The new procedure appears as a protective measure to deal with the Covid-19 (coronavirus) pandemic, and allows new sessions to be convened as early as May.
The ruling states that the trial may be held by videoconference provided that the call for the trial session is made up to 15 (fifteen) days in advance, and must expressly indicate that it will be held exclusively digitally The participation of those involved, who wish to do so, must be registered using a form made available by the CVM (this registration must be made within 3 (three) hours before the start of the session), and absence from the session will not prevent the trial of the case in which they are involved from taking place.
If the accused wishes to present oral arguments, he or she must request a private hearing (which will also be held by video or teleconference), or by sending the documentation.
In the case of requests for oral arguments, these can be made during the session or by sending a media file to the secretariat (provided it is requested at the time of registration), which will insert it at the appropriate time In any case, the secretariat will make available, up to one (1) hour before the trial session, a link for the participation of the parties and those interested in following the trial session, and all sessions must be recorded by the CVM.
The full content of the votes cast during the session will be published on the CVM’s website within 24 (twenty-four) hours of the trial.
