CVM - Securities and Exchange Comission of Brazil

CVM, the Brazilian Securities and Exchange Commission is responsible for assuring the proper functioning of the stock exchange and over-the-counter markets and for protecting all securities holders against fraudulent issues and illegal actions by corporate management, controlling shareholders, or mutual fund managers. It is also responsible for preventing or inhibiting fraud or manipulation which may give rise to artificial price formation in the securities market, assuring public access to all relevant information on traded securities and related issuers, ensuring that all market participants adopt fair trading practices, stimulating the formation of savings and their investment in securities and promoting the expansion and efficiency of the securities market.

CVM is the regulatory body that supervises local companies, exchanges, depositories, custodians and investment funds. CVM is also responsible for regulating international investments in the local financial and capital markets.