Brazil: Capital Markets and the Securities Commission
by Euchério Lerner Rodrigues June, 1996
The CVM was created in 1976 through the Law No. 6,385 with the objective of regulating and disciplining the workings of the Brazilian capital market and, consequently, to fulfil the role of one of the institutions responsible for the process of building up savings and assisting economic development. In this way, by offering investors appropriate security and operational flexibility on the capital market, it contributes towards the process of company capitalization, the dispersion of prosperity and better allocation of productive sector resources.