CVM published, on 05/19/2021, 4 new Resolutions that will replace existing Instructions, most of them resulting from the process of revision and consolidation of rules:
(i) CVM Resolution 31: provides for the rendering of centralised securities deposit services (and revokes CVM Instruction 541);
(ii) CVM Resolution 32: provides for the rendering of securities custody services (and revokes CVM Instruction 542);
(iii) CVM Resolution 33: provides for the rendering of securities bookkeeping services and the issuance of securities certificates (and revokes CVM Instruction 543); and
(iv) CVM Resolution 34: provides for securities lending by clearing houses and providers of clearing and settlement services for securities transactions (and revokes CVM Instructions 441 and 466).
According to CVM, these Resolutions do not entail changes of merit and were not submitted to public hearings.
The resolutions come into force on 01/06/2021.
Resolutions 31, 32 and 33 maintain the current deadlines for analysis, by CVM, of requests for authorization to exercise the services of centralized deposit, custody and bookkeeping of securities, which are longer than the sixty-day deadline provided as a general rule in Decree 10,178/2019.
We will review any changes and, if appropriate, publish our specific comments.
To access CVM Resolutions 31, 32, 33 and 34, click here.
The Capital Markets team at Barcellos Tucunduva Advogados is available to clarify any questions related to the above topics.
