The Brazil Securities Commission (CVM), through its Superintendence of Corporate Relations, issued Circular Letter CVM/SEP 3/2025 to inform publicly held companies and registered foreign issuers about enhancements implemented in the Empresas.Net system in the second quarter of 2025. Empresas.Net is used to generate and submit key issuer filings to CVM and, for listed companies, to B3. Updates include changes to the Reference Form (FRE), including revised guidance for the “reason for resubmission” field and adjustments to tables covering management, boards and committees composition, remuneration in other functions, and related-party transactions. The Traded and Held Securities Form removed fields related to share capital composition and now permits special characters in free-text fields (“Characteristics” and “Operation”). In IPE Online, users can open an attached file before submitting it when resubmitting documents, and new videos and manuals were published to support use of the company document submission modules and Brazilian Depositary Receipt (BDR) programme submissions to CVM and B3.

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