The Brazil Securities Commission (CVM), through its Securities Registration Superintendence (SRE), issued guidance to intermediaries on how to request registration of public tender offers for shares (OPA) under the ordinary and automatic procedures set out in CVM Resolution 215, reflecting new Sistema SRE functionalities. From 1 October 2025, Sistema SRE will be available to receive and process the analysis phases for OPA registration requests under the ordinary procedure and to grant OPA registrations under the automatic procedure without any CVM intervention. CVM also noted that, while registration requests for public distribution offerings are currently submitted via the Offers Registration System (with the exception of “CIC Hoteleiro” offerings), all OPAs using either the ordinary or automatic procedure must have their registration requests submitted through Sistema SRE.
Brazil Securities Commission (CVM) 2025-09-30
Brazil Securities Commission enables Sistema SRE to process ordinary and automatic public tender offer registrations from 1 October 2025
The Brazil Securities Commission (CVM) issued guidance on registering public tender offers for shares (OPA) under CVM Resolution 215, highlighting new Sistema SRE functionalities. From 1 October 2025, Sistema SRE will handle OPA registration requests under the ordinary procedure and grant registrations automatically without CVM intervention. All OPA registration requests must be submitted through Sistema SRE, except for "CIC Hoteleiro" offerings.