U Penn Law - Brazil Insider Trading Regulation

Journal of Comparative Corporate equity and Securities Regulation 4 (1982) 395-402 North-Holland Publishing Company 395 DISCLOSURE AND INSIDER TRADING REGULATION: modern DEVELOPMENTS IN Brazilian LAW Modesto CARVALHOSA and Nelson EIZIRIK * 1. Introduction The aim of the toast article is to describe and analyze the organic evolution of Brazilian law related to manifestation and insider trading regulation. Emphasis range be given to a recent case transaction with insider trading, since this case demonstrates the main difficulties courts have in the application of the law. usual nourishment regarding disclosure and insider trading restrictions were established in the Corporations do of 1976 [1]. much(prenominal) provisions regulate the responsibility of directors and managers of in public-held companies (Open Companies - Cias Abertas). According to sectionalisation 4 of the Corporations Act, a corporation is defined as publicly held when its law securities are accepted for trading on a stock transposition or in the over-the-counter commercialize. The enforcement of regulation on disclosure and insider trading is carried out by the Securities fit out (Comissdo de Valores Mobilifsrios - CVM). The CVM was created by Law No. 6.385, December 7, 1976.

According to the Law, the CVM is hypothetical to (1) stimulate the brass of capital and its enthronement in stocks and debentures; (2) incite expansion and the efficient and level(p) operation of the stock market and gain ground permanent investment in stocks issued by domestic publicly-held companie s; (3) incarnate the efficient and stand! ard functioning of the stock exchanges and the over-the-counter market; (4) in general, comfort stockholders and investors; (5) prevent frauds and manipulations in the market; (6) plug investors access to information on publicly-held companies; (7) assure observance of equitable practices in the market; and (8) assure the observance, in the markets, of credit foothold fixed by the National Monetary...If you compliments to get a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay