Deadline To Submit Report On The Brazilian Corporate Governance Code Extended

Author:Ms Nair V. Saldanha, Fernanda Tassinari and Lucas Budoya
Profession:Madrona Advogados

On March 13, 2018, the Board of the Brazilian Securities and Exchange Commission extended the deadline for submission of the Report on the Brazilian Corporate Governance Code, provided by CVM Instruction 480/09, article 29-A and Annex 29-A ("Report").

The reason for the extension is the development of their own platform, that will be prepared and implemented by B3 and will host the information in the ENET System. It is expected to be ready by the end of August 2018.

Thus, the Board decided that October 31, 2018 is the deadline for submission of the Report by publicly traded corporations that, on the date CVM Instruction 586/17 was published (on the June 9, 2017 Federal Registers and then amended on the July 10, 2017 Federal Register), had at least one type or class of shares of its issuance in IBrX-100 or IBOVESPA.

Starting in 2019, the obligation will also apply to...

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