Standard held by Allooloo Technologies Corp. · Open standard, MIT licence.

SM-ECO-10060 · Brazil

SM-ECO-10060sm-eco-10060.org/market/br/

Brazil · br-eco-10060

chapter br.chapter.v12 · supersedes br.chapter.v11 · as of 2026-10-31 · node br-cm-kg · https://mcp.br-cm-kg.ai/book/

7.2 The field element (every catalogue entry below is one of these)

Ask get_orderability with: investidores profissionais — the client categories the chapter names, in the regime's own words (AIO client_categories, br.aio.v5) · https://mcp.br-cm-kg.ai/book/aio.json. The other category lists below are the chapter's ECO and ACM fields, not the identifiers the door takes.

Appendix A · ECO market section

ECO · br.eco.v4 · supersedes br.eco.v3 · produced 2026-10-31T01:58:17Z · signed on the node door

The catalogue starts from identifying the duty, obtaining the relevant facts, recognising constraints, supporting an action and preserving evidence. It retains the current page's sourceable information and extends the chapter beyond the page. Each regime is scoped to the instruments, actors and activities its evidence applies to. No tax or settlement value is treated as universal to a market.

jurisdiction_scopeTerritory, regime boundaries and cross-border applicability
territory
Brasil
regime
mercado de valores mobiliários no Brasil
authority_basis
Lei 6.385/76

source https://www.gov.br/cvm/pt-br/acesso-a-informacao-cvm/institucional/sobre-a-cvm · dated 13/12/2024

competent_authoritiesRegulators, competent authorities and allocation of responsibilityComissao de Valores Mobiliarios (CVM) - created 1976 by Lei 6.385/76 'com o objetivo de fiscalizar, normatizar, disciplinar e desenvolver o mercado de valores mobiliarios no Brasil'; special-regime autarchy linked to the Ministry of Finance

source https://www.gov.br/cvm/pt-br/acesso-a-informacao-cvm/institucional/sobre-a-cvm · dated not found

duty_mapApplicable product-governance and suitability duties by activity and actor
  • duty
    CVM suitability — Resolução CVM nº 30/2021, arts. 2–3

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated not found

regulated_activitiesActivities requiring authorisation and their scope
  • activity
    intermediation of transactions with securities on regulated stock markets
    restricted_to
    institutions qualified to act as members of the distribution system

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/RESOLUTIONCVM35__.pdf · dated May 26, 2021

participant_categoriesIssuer, intermediary, investor and client categories
  • category
    investidores qualificados
    criterion
    pessoas naturais ou jurídicas que possuam investimentos financeiros em valor superior a R$ 1.000.000,00 e que atestem por escrito sua condição mediante termo próprio (Anexo B)

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 11 de maio de 2021

product_categoriesInstrument classes, exclusions and special regimesnot found
issuer_and_listing_scopeDomicile, listing and issuer-status distinctionsnot found
exchanges_and_venuesVenue identities linked to AMP records

source https://www.b3.com.br/en_us/ · dated not found

information_storesAuthoritative regulated-information repositoriesCVM systems: 'Companhias' (financial statements, registration data, documents, material facts, reference forms) on sistemas.cvm.gov.br; CVM open data portal (CKAN) with CIA_ABERTA datasets IPE, ITR, DFP

source https://sistemas.cvm.gov.br/central-index.asp · dated not found

store_lookupDocumented lookup methods and identifier requirementsCVM 'Informacoes sobre Companhias' search form (Consulta de companhias abertas); CVM system index for Companhias

source https://sistemas.cvm.gov.br/central-index.asp · dated not found

periodic_reportingPeriodic duties, deadlines, triggering events and exceptions
  • report
    DFP (standardized annual financial statements form) - Resolucao CVM 80
    deadline
    pelo emissor nacional em ate 3 (tres) meses contados do encerramento do exercicio social ou na mesma data de envio das demonstracoes financeiras, o que ocorrer primeiro (foreign issuers: up to 4 months)
  • report
    ITR (quarterly information form) - Resolucao CVM 80
    deadline
    entregue pelo emissor no prazo de 45 (quarenta e cinco) dias contados da data de encerramento de cada trimestre (text of the consolidated version fetched; a later change to 60 days for ITR/ISEM was mentioned only in a search snippet and not verified)
  • report
    Formulario de Referencia (reference form)
    deadline
    O emissor deve entregar o formulario de referencia atualizado anualmente, em ate 5 (cinco) meses contados da data de encerramento do exercicio social

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol080consolid.pdf · dated not found

ad_hoc_disclosureEvent-driven and inside-information disclosure obligationsResolucao CVM 44 art. 3: the Investor Relations Director must send any ato ou fato relevante to CVM (and the markets where securities trade) via the CVM electronic system and 'zelar por sua ampla e imediata disseminacao, simultaneamente em todos os mercados'; art. 6: disclosure may exceptionally be withheld to protect a legitimate company interest, but must be made immediately if the information escapes control or there is an atypical price/quantity oscillation

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol044.pdf · dated not found

filing_formatsRequired formats, validation requirements and document typesElectronic forms sent through the CVM electronic system (formulario cadastral, formulario de referencia, DFP, ITR as 'documento eletronico'); other documents must be 'em formato pesquisavel ou digitalizados com tecnologia que permita o reconhecimento de caracteres de texto'. No XBRL/iXBRL requirement found in the text read

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol080consolid.pdf · dated not found

filing_languagesRequired or accepted languages and translation conditionsPortuguese: for foreign issuers Resolucao CVM 80 art. 29 requires financial statements 'elaboradas em portugues, em moeda corrente nacional' (text read through that phrase); domestic issuers file under Lei 6.404/1976 and CVM rules

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol080consolid.pdf · dated not found

prospectus_regimeOffering and admission requirements, exemptions and thresholds
  • requirement
    A negociação de valores mobiliários em mercados regulamentados, no Brasil, depende de prévio registro do emissor na CVM
    source
    Resolução CVM nº 80, art. 2º

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol080consolid.pdf · dated 29 DE MARÇO DE 2022

product_disclosuresProduct documents and pre-contract information duties
  • duty
    Suitability verification before recommending products, performing operations or providing services
    applies_to
    Persons authorized to act as members of the distribution system and securities advisors
    source
    CVM Resolution No. 30, art. 2

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/RESOLUTIONCVM30_.pdf · dated May 11th, 2021

takeover_regimeOffer rules, control triggers and shareholder treatmentnot found
ownership_reportingSignificant holdings, beneficial ownership and notification dutiesnot found
short_sellingRestrictions, disclosure, locate or borrowing requirements, emergency measuresnot found
market_abuseInsider dealing, manipulation and related disclosure regimesnot found
trading_controlsMarket-wide trading constraints and intervention powersnot found
market_calendarAuthoritative calendars and exceptional closuresB3 2026 no-trading days: 1 Jan, 16-17 Feb (Carnival), 3 Apr, 21 Apr, 1 May, 4 Jun, 7 Sep, 12 Oct, 2 Nov, 20 Nov, 24 Dec, 25 Dec, 31 Dec; 18 Feb special schedule from 13h; 9 Jul normal

source https://www.b3.com.br/pt_br/noticias/calendario-de-negociacao-da-b3-confira-o-funcionamento-da-bolsa-em-2026.htm · dated not found

halts_sourcesOfficial halt and suspension sources with scopenot found
identifiersSecurity and entity identifier conventions and validation sourcesnot found
isin_prefixISIN prefix information and its limits as a jurisdiction indicatorBR - B3: 'B3 is the only institution authorized to assign ISINs for securities in Brazil' and is associated with ANNA (page does not use the phrase 'national numbering agency')

source https://www.b3.com.br/en_us/market-data-and-indices/data-services/market-data/reports/equities/isin-code/about-isin-code/ · dated not found

lei_requirementsLegal Entity Identifier requirements and authoritative lookup referencesLEI = 20-character ISO 17442 code issued by GLEIF-accredited LEI Issuers (LOUs); searchable in the Global LEI Index. No Brazil-specific LEI issuer or issuer obligation read on an official page

source https://www.gleif.org/en/about-lei/introducing-the-legal-entity-identifier-lei · dated not found

settlementSettlement cycles by instrument and venue, exceptions and transition datesnot found
clearing_and_custodyClearing, depository, custody and asset-protection frameworksnot found
corporate_actionsRights, elections, notices and procedural deadlinesnot found
retail_accessRetail distribution limits, access restrictions and safeguards
  • rule
    CVM Resolution 30 suitability duty
    text
    Persons authorized to act as members of the distribution system and securities advisors shall not recommend products, perform operations, or provide services without verifying their suitability to the customer's profile.
  • rule
    Prohibition (Art. 6)
    text
    It is prohibited to the persons referred to in article 2 recommend products or services to the customer when: the product or service is not suitable for the customer's profile; the information that allows the identification of the customer's profile is not obtained; or the information relating to the customer's profile is not updated.
  • rule
    Client-ordered transactions (Art. 7)
    text
    alert the customer about the absence or outdated profile or its inadequacy, indicating the causes of the divergence; and obtain an express statement from the customer
  • rule
    Qualified investor (Art. 12, II)
    text
    individuals or legal entities who have financial investments superior to R$ 1,000,000.00 (one million reais) and who, in addition, certify in writing their status as a qualified investor
  • rule
    Professional investor (Art. 11, IV)
    text
    individuals or legal entities who have financial investments superior to R$ 10,000,000.00 (ten million reais) and who, in addition, certify in writing their status as a professional investor
  • rule
    Effective date
    text
    This Resolution comes into force on June 1st, 2021.

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

cross_border_accessForeign participation and cross-border offering or service restrictions
  • category
    non-resident investors
    classification
    considered professional investors (CVM Resolution 30, Art. 11, VIII)

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

tax_at_sourceWithholding regimes by income, instrument and recipient category; relief conditionsnot found
fees_and_leviesTransaction taxes, statutory levies and relevant chargesnot found
conduct_and_conflictsConduct, inducement and conflict-management duties relevant to distribution
  • duty
    The investment advisor shall act with probity, good faith and professional ethics, employing in the exercise of the activity all the care and diligence expected of a professional in his or her position
    source
    CVM Resolution 178, art. 23
  • duty
    where requested by clients, describe how he or she is remunerated for products and services offered, including values or percentages practiced
    source
    CVM Resolution 178, art. 23 §1 III
  • duty
    it is the responsibility of the intermediary to verify possible conflicts related to the activities performed by the investment advisor
    source
    CVM Resolution 178, art. 7 §3

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM178.pdf/@@download/file · dated February 14, 2023

recordkeepingRetention, evidence, format and reconstruction requirements
  • requirement
    maintain all documents and statements required by this Resolution for a minimum period of 5 (five) years counted from the last recommendation given to the customer, or from the last operation performed by the customer, as the case may be, or for a longer period by express determination of the CVM, in case of administrative proceedings
    source
    CVM Resolution 30, art. 14
  • requirement
    Scanned images are allowed in substitution to the original documents
    source
    CVM Resolution 30, art. 14 §1

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

complaints_and_redressComplaint, escalation and redress routes
  • route
    materials used by the investment advisor shall make explicit reference to all intermediaries and present the respective contact details of the institutions ombudsman
    source
    CVM Resolution 178, art. 24 II

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM178.pdf/@@download/file · dated February 14, 2023

additional_duty_fieldsFurther sourceable duty-relevant fields, introduced through a versioned catalogue extensionnot found

Appendix B · ACM register section

ACM · br.acm.v3 · supersedes br.acm.v2 · produced 2026-10-31T01:46:54Z · signed on the node door

The register revision is incorporated by reference to ACM-68000 (Agent Clearance Manifest) canonical text v1.0 §8.1 and is not redrawn here. These are chapter attachment fields connecting the chapter to that register; they never redefine rule_version, signal meanings or revision internals.

register_revision_refExact immutable revision governed by ACM-68000 §8.1
rule_version
acm-68000/br/cvm-suitability-resolu-o-cvm-n-30-2021-arts-2-3/r1
path
register/br/acm-68000-br-cvm-suitability-resolu-o-cvm-n-30-2021-arts-2-3.json
content_hash
sha256:f1f88bed19ae3ce74c6bf1e9fad9129d91b7968e1ede4b0925d0bec9df37c6ad

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

register_schema_refAuthoritative register-revision schema and its versionACM-68000 canonical text v1.0 §8.1 — a register revision

source https://acm-68000.org/ · dated 2026-10-30

chapter_evidence_refImmutable chapter version and section from which the revision was produced
chapter
br.chapter.v4
chapter_sha256
sha256:4480231c84d397d92efb2dcf652737e0c48edb362aaf10c2411c38be26c7a135
sections
  • family
    ECO
    version
    br.eco.v3
    field
    duty_map
    sha256
    sha256:8596d39c93f551f0b399b5661f3e700996abfe987abf5584972057fa13ee6a19
  • family
    ACM
    version
    br.acm.v2
    sha256
    sha256:0937d6ded296ce7a00eca433caaad6f90fc5db46898170723b09796530a23bd5

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 2026-10-31

rule_applicabilityMarket-specific applicability evidence for the referenced revision

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

shared_revision_refShared-family revisions produced by the apex, where applicablenot found
national_overlay_refSeparately versioned national additions or exceptionsnot found
revision_change_evidenceSources supporting selection or succession of the referenced revision

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

Appendix C · AIO orderability section

standard AIO-10060 · AI Orderability

AIO · br.aio.v5 · supersedes br.aio.v4 · produced 2026-10-31T22:33:10Z · signed on the node door

The chapter describes the source-backed determination framework. A product-specific orderability result requires the product record, the client category, the relevant evidence and the applicable rule revision; this section never manufactures that result from market membership alone. It adds no field to the deployed receipt.

duty_revision_refApplicable immutable ACM rule revisionResolução CVM nº 30, de 11 de maio de 2021, com as alterações introduzidas pelas Resoluções CVM nºs 162/22 e 179/23

source https://conteudo.cvm.gov.br/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 11 de maio de 2021

product_scopeProducts and instrument categories covered by the target-market regime

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/resol160Traduo_v.SDM05042023.pdf/@@download/file · dated April 4th, 2023

client_categoriesClient classifications and source-backed qualification criteria
  • identifier
    investidores profissionais
    criteria
    I – instituições financeiras e demais instituições autorizadas a funcionar pelo Banco Central do Brasil; II – companhias seguradoras e sociedades de capitalização; III – entidades abertas e fechadas de previdência complementar; IV – pessoas naturais ou jurídicas que possuam investimentos financeiros em valor superior a R$ 10.000.000,00 (dez milhões de reais) e que, adicionalmente, atestem por escrito sua condição de investidor profissional mediante termo próprio, de acordo com o Anexo A; V – fundos de investimento; VI – clubes de investimento, desde que tenham a carteira gerida por administrador de carteira de valores mobiliários autorizado pela CVM; VII – assessores de investimento, administradores de carteira de valores mobiliários, analistas de valores mobiliários e consultores de valores mobiliários autorizados pela CVM, em relação a seus recursos próprios; VIII – investidores não residentes; IX – fundos patrimoniais
    rule
    Resolução CVM nº 30, Art. 11
    source_url
    https://conteudo.cvm.gov.br/cvm_institucional/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf
    source_date
    11 de maio de 2021
    read_at
    2026-10-31T20:02:41Z

source https://conteudo.cvm.gov.br/cvm_institucional/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 11 de maio de 2021

target_marketPositive target-market criteria and their applicability
  • criterion
    the product, service, or operation is appropriate to the client's investment objectives
    analysis
    • the period in which the customer wants to keep the investment
    • the customer's stated risk-taking preferences
    • the purposes of the investment
  • criterion
    the financial situation of the customer is compatible with the product, service, or operation
    analysis
    • the value of regular revenues declared by the customer
    • the value and assets that make up the customer's equity
    • the future need for resources declared by the customer
  • criterion
    the customer has the knowledge necessary to understand the risks related to the product, service, or operation
    analysis
    • the types of products, services, and operations with which the customer is familiar
    • the nature, volume, and frequency of operations already carried out by the customer in the securities market, as well as the period in which such operations were carried out
    • the academic background and the professional experience of the customer (does not apply to the legal entity customer)

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

negative_target_marketExplicit exclusions or incompatible client characteristics

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

distribution_conditionsPermitted distribution methods and constraints

source https://conteudo.cvm.gov.br/cvm_institucional/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 11 de maio de 2021

required_assessmentsSuitability, appropriateness or other assessment requirements and triggers

source https://conteudo.cvm.gov.br/cvm_institucional/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 11 de maio de 2021

product_documentationRequired product, risk and target-market documents

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/resol160Traduo_v.SDM05042023.pdf/@@download/file · dated July 13, 2022

manufacturer_distributor_rolesResponsibilities and information exchange between actors

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM30.pdf · dated May 11th, 2021

review_triggersRequired review events and periodic review conditions

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/RESOLUTIONCVM30_.pdf · dated May 11th, 2021

evidence_requirementsEvidence needed to support a scoped outcome
  • situation
    client orders the execution of transactions where the product is not suitable, profile information is not obtained, or profile information is not updated (art. 6, items I to III)
    evidence
    express statement from the customer that he/she is aware of the absence, out of date, or inadequacy of profile
    timing
    before the first transaction with the category of securities

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/RESOLUTIONCVM30_.pdf · dated May 11th, 2021

exceptionsSource-backed exceptions with conditions and boundaries

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/RESOLUTIONCVM30_.pdf · dated May 11th, 2021

orderability_profile_refSchema for the product, market and client-class outcome produced under these rulesnot found
sourcesSupporting documents and provenance not attached to a specific field

source https://conteudo.cvm.gov.br/cvm_institucional/export/sites/cvm/legislacao/resolucoes/anexos/001/resol030consolid.pdf · dated 11 DE MAIO DE 2021

Appendix D · AMP venue section

standard AMP-10060 · Agentic Market Protocol

AMP · br.amp.v2 · supersedes br.amp.v1 · produced 2026-10-31T02:31:24Z · signed on the node door

Each venue record is keyed by its evidenced Market Identifier Code (MIC). Where an activity has no applicable code, the gap is preserved with a separately typed reference; no code is invented. This section supplies reference information only; it establishes no entitlement, permission to route or order placement. A later permission profile requires its own actor, instrument, action and endpoint evidence.

venue_mic · BVMF

source https://www.iso20022.org/sites/default/files/ISO10383_MIC/ISO10383_MIC.csv · dated 20220328

venue_identityVenue name, operator and authoritative identity evidence
name
B3 S.A. – Brasil, Bolsa, Balcão
description
one of the world’s largest financial market infrastructure companies, providing trading services in an exchange and OTC environment

source https://www.b3.com.br/en_us/b3/about/ · dated 2026-06-01

venue_scopeOperating or segment scope, products and jurisdiction bindings
scope
creation and management of trading systems, clearing, settlement, deposit and registration for the main classes of securities, from equities, corporate fixed income securities to currency derivatives, structured transactions and interest rate, and agricultural commodities

source https://www.b3.com.br/en_us/b3/about/ · dated 2026-06-01

rules_pageAuthoritative venue rule sourcenot found
calendarSessions, holidays and exceptional closuresnot found
clearing_houseClearing relationships by instrument and service
  • clearing_house
    B3
    service
    central counterparty for most of the trades carried out in its markets; central depository and registration services

source https://www.b3.com.br/en_us/b3/about/ · dated 2026-06-01

participant_rolesDefined participant categories and responsibilities
  • category
    holders of Access Authorizations
    responsibility
    activities in the systems and markets managed by the Company are regulated by the Company

source https://api.mziq.com/mzfilemanager/v2/d/5fd7b7d8-54a1-472d-8426-eb896ad8a3c4/d13dabae-578e-4f9d-e634-d42ce7f1d93c?origin=2 · dated April 30, 2026

market_maker_obligationsSource-backed obligations and exemptions for market makersnot found
gatesDocumented entry, membership and access prerequisites
  • segment
    OTC B3
    requirement
    must hold a Right of Access
    governing_documents
    • OTC B3 Rulebook
    • Manual de Normas de Direito de Acesso
    • Manual de Operações de Cadastro de Participantes

source https://www.b3.com.br/en_us/regulation/regulatory-framework/regulations-and-manuals/access.htm · dated 2026-05-18

reference_endpointsPublic reference locations with purpose and source
  • name
    MANUAL DE NORMAS DE DIREITO DE ACESSO DO BALCÃO B3
    purpose
    establishes types of Right of Access, specific procedures relative to eligibility for each type of Right of Access, opening accounts and the designation of a Participant to provide services in the OTC B3
    source
    B3 Regulatory Framework – Access

source https://www.b3.com.br/en_us/regulation/regulatory-framework/regulations-and-manuals/access.htm · dated 2026-05-18

settlement_linksRelated market or venue settlement recordsnot found
change_noticesVersioned rules changes and operational notices
  • id
    Circular Letter 004/2026-VPC
    date
    January 29, 2026
    title
    New Investor Incentive Program – Cycle 2026
    effective
    February 2, 2026
    revokes
    Circular Letter 129-2025/PRE, dated December 30, 2025

source https://www.b3.com.br/data/files/6F/54/18/CB/73F0C91076A8EEB9AC094EA8/CL%20004-2026-VPC%20PROGRAMA%20DE%20INCENTIVO%20PARA%20NOVOS%20INVESTIDORES%20CICLO%202026_ING.pdf · dated January 29, 2026

sourcesAdditional source-backed venue evidence
  • field
    venue_services
    value
    B3 also acts as a central counterparty for most of the trades carried out in its markets and offers central depository and registration services.

source https://www.b3.com.br/en_us/b3/about/ · dated 2026-06-01

Appendix E · ESG disclosure section

standard ESG-10060 · Sustainability Disclosure

ESG · br.esg.v2 · supersedes br.esg.v1 · produced 2026-10-31T02:55:37Z · signed on the node door

Sustainability disclosure remains a specialised ECO record with its rules in ACM. A jurisdiction's adoption of a framework is distinct from the framework's application to a particular issuer or period; the schema preserves that distinction and never turns disclosure availability into a sustainability rating.

regimeNamed sustainability-disclosure regime and its scope
name
CVM Resolution Nº 193
scope
Regulates preparation and disclosure of sustainability-related financial information based on the international standards issued by the International Sustainability Standards Board – ISSB.

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 OCTOBER 2023

authorityResponsible issuing or supervisory authorities
  • name
    Federal Accounting Council – CFC
    role
    issues the standards under which sustainability-related financial disclosure must be subject to assurance
  • name
    CVM
    role
    registers the independent auditor providing assurance

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 OCTOBER 2023

adoption_stageProposal, adoption, commencement and transitional operation, distinguished
adoption
approved by the Board of Commissioners in a meeting held on 11 October 2023
commencement
comes into force on 1 November 2023
transitional
voluntary adoption from fiscal years beginning on or after 1 January 2024; mandatory from fiscal years beginning on or after 1 January 2026

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 OCTOBER 2023

disclosure_dutiesRequired disclosures, reporting periods and filing obligations
  • duty
    file the sustainability report using the electronic system available on the CVM website
    deadline_voluntary_and_first_mandatory_year
    the Reference Form – FRE´s delivery date
    deadline_from_second_mandatory_year
    within 3 (three) months from the end of the fiscal year or on the same date financial statements are submitted, whichever occurs first
  • duty
    cover the same reporting period as the entity´s annual financial statements
  • duty
    objectively identified and presented separately from the entity's other information and financial statements
  • duty
    assurance by an independent auditor registered with the CVM: limited until end of 2025 fiscal year; reasonable from fiscal years beginning on or after 1 January 2026
  • duty
    publicly-held companies declare voluntary option through a communication to the market, preferably by 31 May 2024, limited until 31 Dec 2024

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 OCTOBER 2023

reporting_standardsReferenced disclosure standards and applicable editions
  • standard
    standards for disclosing sustainability-related financial information issued in English by the ISSB
    applicability
    until the standards are fully internalized into the Brazilian jurisdiction

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 OCTOBER 2023

taxonomyClassification frameworks, criteria and binding statusnot found
assuranceRequired assurance, qualifications and transition conditions
  • requirement
    The sustainability-related financial disclosure must be subject to assurance in accordance with the standards issued by the Federal Accounting Council – CFC
    provider
    an independent auditor registered with the CVM
    level
    limited assurance
    period
    until the end of the 2025 fiscal year
  • requirement
    The sustainability-related financial disclosure must be subject to assurance in accordance with the standards issued by the Federal Accounting Council – CFC
    provider
    an independent auditor registered with the CVM
    level
    reasonable assurance
    period
    from fiscal years beginning on or after 1 January 2026

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 October 2023

filing_store_and_formatAuthoritative destination and required filing format
  • destination
    the electronic system available on the CVM website
    document
    sustainability report
    deadline_voluntary_and_first_mandatory_year
    the Reference Form – FRE's delivery date
    deadline_from_second_mandatory_year
    within 3 (three) months from the end of the fiscal year or on the same date financial statements are submitted, whichever occurs first
    format
    must be objectively identified and presented separately from the entity's other information and financial statements

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 October 2023

interoperabilityRecognised equivalence, mapping or substituted-compliance provisions
  • provision
    Entities that opt for voluntary adoption must use the standards for disclosing sustainability-related financial information issued in English by the ISSB until the standards are fully internalized into the Brazilian jurisdiction
    framework
    ISSB
  • provision
    an entity shall make an explicit and unreserved statement of compliance with the ISSB standards
    framework
    ISSB

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 October 2023

rule_revision_refApplicable immutable ACM disclosure-rule revisionsnot found
sourcesSupporting regime and disclosure evidence

source https://www.gov.br/cvm/en/foreign-investors/regulation-files/ResolutionCVM193.pdf · dated 20 October 2023