BRAZIL: Superintendent of Investor Protection and Guidance releases Circular with Guidance on establishing the Service Standard Ombudsman

Monday June 17 2013

The Superintendent of Investor Protection and Guidance (SOI) of the CVM has published, a Circular Letter which clarifies the main aspects related to the service ombudsman within the market securities. The service, regulated by CVM Instruction 529/12, will become mandatory from 01/07/2013 and shall be observed by the market participants.

Through the document, the SOI reports that there will be changes in the routine interaction with the participants in relation to the handling of the demands of investors and the general public.

The circular letter also emphasized that through the new Instruction, CVM seeks to improve the handling of complaints and inquiries received by the Municipality, especially with respect to the average time of operations.

Please see the above link for more details