Rafael Tridico Faria
Lawyer at Marcos Martins Advogados
One month after the publication of CVM Instruction 626, which regulated the creation of the Regulatory Sandbox[1], the Brazilian Securities and Exchange Commission (“CVM”) issued Ordinance CVM/PTE/No. 75, of June 29, 2020, which creates the Sandbox Committee (“CDS”), provided for in CVM Instruction No. 626. The new ordinance will come into force on August 1, 2020 and should be reassessed within a year.
The CDS will be made up of two nuclei, one strategic, which will, among other things, create partnerships with research entities, universities and researchers to analyze and report on the proposals submitted for inclusion in the Regulatory Sandbox program, and the other operational, which will monitor the admitted participants.
Further details on the responsibilities of each center and the Sandbox Committee can be found in CVM/PTE/No. 75.
On the same date, the CVM published a Q&A page on the Regulatory Sandbox which can be accessed by clicking here.
[1]More information about the Regulatory Sandbox:
https://www.marcosmartins.adv.br/pt/publicadas-regras-para-sandbox-regulatorio/
