Regulation in Brazil

The Brazilian capital markets and financial systems are regulated and monitored by the National Monetary Council (Conselho Monetário Nacional - "CMN"), the Brazilian Central Bank (Banco Central do Brasil - "Central Bank") and the Brazilian Securities and Exchanges Commission (Comissão de Valores Mobiliários - "CVM").

In accordance with Brazilian regulations, the creation and operation of organised securities markets and custody and settlement systems require prior authorisation of the CVM and the Central Bank, depending on the market. Furthermore, entities that engage in those activities and their agents are subject to specific and strict regulatory oversight.

In this section you may find an overview of Regulation in Brazil and how it is connected with the market. To do that we will explain briefly: