CVM submits draft of instruction about the disclosure of information of relevant act or fact to public hearing
CVM – the Brazilian Securities and Exchange Commission – submitted to a public hearing a draft of instruction with changes to CVM Instruction 358/02, which deals with the disclosure and use of information about relevant acts or facts, and to CVM Instruction 480/09, which addresses the filing of securities’ issuers allowed to be traded in regulated securities markets.
The major objective of the proposal is to provide publicly-held companies with the option of disclosing relevant facts also by means of news portals in the internet.
With this, CVM provides an alternative, by means of the electronic press, for the disclosure of information to the market, facilitating and streamlining the dissemination of relevant acts and facts, in addition to reducing publicly-held companies’ maintenance costs.
The draft also allows investors to be certain about the means through which they can keep informed of the companies’ relevant facts by requiring that both the trading policy and the registration form include information about the communication means the company will be using to disclose relevant facts.
Suggestions and comments about the draft must be submitted to Superintendência de Desenvolvimento de Mercado – SDM (Office of the Superintendent of Market Development), preferably through the electronic address audpublica0813@cvm.gov.br, by September 25th, 2013.
Amec’s Technical Commission expects to discuss the topic in its September meeting.
To access the public hearing publication, please visit: http://www.cvm.gov.br/port/audi/ed0813sdm.pdf
