Gabriela de Ávila Machado
Lawyer at Marcos Martins Advogados
The CVM published CVM Resolution 6 on September 14, 2020. The Resolution aims to simplify the procedure for issuing and distributing CAVs (Audiovisual Investment Certificates).
According to the superintendent of securities registrations, the main changes “include the automatic exemption from registration of the issue and distribution of CAV offers, the exclusion of the obligation to send certain documents and information to the CVM and ANCINE and the change in the periodicity of the reports required by the rule”.
CAVs are considered to be a light risk level I offering, and the Resolution aims to make their issuance and distribution less complex.
The Resolution comes into force, so that new fundraising, including that of projects with previous issues, must comply with the new regime of CVM Resolution 6.
