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Rule CVM 419 – Foreign Investor Identification

CBLC and BOVESPA release supporting contents aimed at foreign counterparts


On May 3, 2005, the Brazilian Securities Commission (CVM) published the Rule CVM 419 that sets a new framework for the identification of non-resident investors by Brazilian brokerage houses and local custodians.

BOVESPA and CBLC have released a set of materials in English to support the communication of Brazilian institutions with foreign counterparts.

1) Explanatory Note on the Rule 419

2) Brazilian Legislation instruments regarding this issue:

• Relevant Brazilian Legislation
  • Brazilian Securities Commission
    • Rule 419
    • Rule 387
    • Rule 325
    • Rule 301
       
  • Brazilian Federal Laws and Resolutions
    • Law 6385
    • Law 9613
    • Monetary Council Resolution - 2689

3) Minimum content suggestion for contract to be set between Brazilian and foreign brokerage houses and for contract between local and global custodians:

• Local and Foreign Brokerage Houses (bilingual version – English/Portuguese)
• Local and Global Custodians (bilingual version – English/Portuguese)

4) Countries with which CVM has agreements for information exchange.

5) ID/Registration Suggestion (Portuguese only)

6) BOVESPA and CBLC's Operational Regulations – Updates:

• BOVESPA's Regulation
• CBLC's Regulation (Portuguese only)