On Nov. 11, BRZ CVM issued rules to relax shareholding restrictions.
BRZ CVM issued Resolution 220 to amend Resolution 135 by increasing limit that stock market participant can hold in the voting shares of entity managing stock exchange.
Follows BRZ CVM Jun. 2022 Res 135 re securities market operations, see #140395.
Overview
The shareholding limit increase has safeguards and measures to mitigate conflicts of interest, preserve equitable access, reduce unequal treatment of exchange participants
CVM Resolution 220 extends countermeasures to form relevant shareholding positions in voting capital of counter-administrating entities organized by market participants.
Improves operational flow of approvals re administrative entities, central depositories, changes appeals filed in denial decisions under the Loss Compensation Mechanism.
