Gabriela de Ávila Machado
Lawyer at Marcos Martins Advogados
Decree 10.139/2019 (“Decree”) determined the revision and consolidation of normative acts below the decree in order to simplify the many rules in force in Brazil.
To this end, and in accordance with the deadlines set out in the Decree, the CVM issued CVM Resolutions 1 and 2 on August 6.
CVM Resolution 1, in accordance with the Decree, identifies the normative acts that may be issued by the CVM as Resolution, Ordinance and Normative Instruction, depending on their content and approval. According to article 2 of this Resolution, other acts without a normative nature will be identified as Deliberations, Guidance Opinions, Explanatory Notes, Circular Letters, Declaratory Acts and Personnel Ordinances, also depending on their content and approval.
CVM Resolution 2, which comes into force on September 1, repeals rules that have been revoked or are no longer applicable. In its 4 articles, 186 acts cease to exist. According to the CVM, “the main focus of this initiative is to increase the efficiency of regulation, and the maximization of economic welfare resulting from full, efficient and honest competition between its participants.”
We monitor CVM regulatory updates on a daily basis and are ready to assist our clients in any way necessary.
