Non-resident investor

If you are a Non-resident who wants to invest in Brazilian markets, you need to understand the Securities and Exchange Commission of Brazil’s (CVM) rule 419. This was published in 2005 and establishes a framework for Brazilian brokerage houses and local custodians to identify Non-resident investors.

The material in English below supports communications between Brazilian institutions and foreign counterparts:

Principal Brazilian legislation

Securities and Exchange Commission of  Brazil

Brazilian federal laws and resolutions

Other regulation of interest to foreign investors

Minimum content suggestion for contracts to be established between Brazilian and foreign brokerage houses and for contracts between local and global custodians:

Local and Foreign Brokerage Houses (Bilingual version – english / portuguese)

Local and Global Custodians (Bilingual version – english / portuguese)

BM&FBOVESPA's operational regulations – update:

Commodity Futures Trading Commission (CFTC)

On June 1, 2016, the U.S. Commodity Futures Trading Commission (CFTC) issued the BM&FBOVESPA Order of Registration as a Foreign Board of Trade (FBOT), thereby allowing United States investors (U.S. Persons) to continue to access, through Direct Market Access and in accordance with their brokers’ specific permissions and accesses, certain products provided in the markets operated by BM&FBOVESPA. See the list of available products below:

Other BM&FBOVESPA products are available to U.S. investors through methods provided by their brokers and in accordance with applicable law.

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