M&A and private equity
Bill 2,925/23 is considered one of the main changes to the Brazilian Corporations Law since Law 10,303/01 and also amends Law 6,385/76.
CVM publishes an official letter with answers to 84 questions from market participants.
Case concerned the untimely disclosure of material fact about negotiations between shareholders in a corporate merger.
Decision of STJ reveals that the limitation of liability is not absolute.
CVM Resolution 166 releases the use of the Empresas.NET and Fundos.NET systems to disclose information.
The analysis of the four settlements shows that the negotiation of a proposal with the CVM must consider the specific circumstances of the investigated conduct and the general circumstances of all cases, regardless of the infraction.
Self-regulation for fixed income and equity funds is already in place and must be implemented by July 3rd.
The reporting is mandatory to those holding assets abroad amounting to or exceeding the equivalent of 1 million USD on December 31, 2021.
In these cases, the major concern is not with the post-acquisition phase but with the period that precedes the transaction. This is mainly due to these companies' delicate economic and financial situation and its likely deterioration.
General Data Protection Law is a point of attention for transactions in the sector. Due diligence processes aimed at confirming compliance with the law are increasingly frequent.
CVM Resolution 44 repeals CVM Instruction 358 and has an entire chapter to regulate the misuse of privileged information, including assumptions used in judgments of cases involving insider trading.
New rules change the routine of general meetings and appointment of independent executives and directors in publicly held companies. Goal is to improve business environment to attract investors.
