The Brazil Securities Commission (CVM) extended the deadline for comments in its public consultation on proposed reforms to the rules for disclosing material facts and other communications to the market, moving the submission cut-off to 18 July 2025. The original deadline was 27 June 2025. The draft rule (Draft A) would replace CVM Resolution 44 and proposes changes focused in particular on the disclosure of significant shareholdings and on the use of the Material Fact (Fato Relevante) and Market Communication (Comunicado ao Mercado) disclosure instruments, alongside other adjustments. Stakeholders can submit suggestions and comments until 18 July 2025 through the email channel set out in the consultation notice.
Brazil Securities Commission (CVM) 2025-06-24
Brazil Securities Commission extends to 18 July 2025 the consultation on reforms to material fact and market communication disclosure rules
The Brazil Securities Commission (CVM) has extended the deadline for public comments on proposed reforms to disclosure rules, now due by 18 July 2025. The draft rule aims to replace CVM Resolution 44, focusing on significant shareholdings and the use of Material Fact and Market Communication instruments.