On July 18, 2023, CVM published CVM/SRE Circular Letter 8/2023, with new guidelines on the procedure for automatic registration of public offerings for the distribution of securities. The Circular Letter specifically addresses the new way in which the Offer Registration System (SRE) started to operationalize the access of representatives of lead coordinators and the resulting consequences in terms of registration and account management of institutions with CVM. The representatives of the institutions that access the SRE System must:
(i) be the master user for that type of participant; or
(ii) have been delegated access/function by the master user for the specific type of participant.
CVM emphasized the importance of the Circular Letter being read in conjunction with the previous Circular Letters No. 3/2022-CVM/SRE (Circular Letter CVM/SRE 03/22), released on 12/30/2022, No. 1/2023-CVM/SRE (Circular Letter CVM/SRE 01/23), disclosed on 01/13/2023, no. 2/2023-CVM/SRE (CVM/SRE Circular Letter 02/23), disclosed on 01/19/2023, no. 3/2023-CVM-SRE (CVM/SRE Circular Letter 03/23) and no. 7/2023-CVM-SRE (CVM/SRE Circular Letter 07/23).
For further information, please contact our Capital Markets team at our office(mercadodecapitais@btlaw.com.br).
