The Brazil Securities Commission (CVM) has approved an addendum to its 2022 cooperation agreement with BSM Supervisão de Mercados (BSM) that organizes how the two institutions coordinate supervisory activities related to public offerings conducted under CVM Instruction 476 on the B3 exchange. The addendum introduces technical and operational adjustments intended to strengthen existing supervision mechanisms. The changes include biweekly CVM–BSM meetings and an expansion of the dataset available for CVM to consult, aimed at improving access to and analysis of information for supervisory purposes. The addendum also adds Annex V, creating a “Mechanism for Data Request for Case Analysis” that sets out procedures for exchanging information not covered by the institutions’ shared platform but considered relevant to CVM’s supervisory work.
Brazil Securities Commission (CVM) 2025-07-10
Brazil Securities Commission approves addendum to CVM and BSM cooperation agreement expanding oversight data access
The Brazil Securities Commission (CVM) has approved an addendum to its 2022 cooperation agreement with BSM Supervisão de Mercados, enhancing coordination of supervisory activities for public offerings on the B3 exchange. Key changes include biweekly meetings, expanded datasets for CVM, and a new mechanism for data requests to improve supervisory information exchange.