‘ADIs’ 6,040 and 6,055: Possibility of reducing the ‘reintegra’ rate and the respective residual credit
By a seven-to-two vote, the Federal Supreme Court (the STF) confirmed that the Executive Branch can freely adjust rates under the Special Regime for the Reinstatement of Tax Values for Exporting Companies (Reintegra). The established thesis is as follows: “Article 22 of Law No. 13,043/2014, which authorizes the Federal Executive Branch to determine the percentage […]
‘CVM’ Resolution 215: Changes to public tender offer regulations
CVM Resolution 215, issued in October 2024 by the Brazilian Securities and Exchange Commission (CVM), introduced significant updates to Public Tender Offer (PTO) regulations. These adjustments align the Brazilian market with international practices while balancing market demands and investor protection. Additionally, they simplify and streamline the process. A PTO is a mechanism through which companies […]
New ‘Sisbajud’ regulations: Tackling fraud and locating ‘front persons’
The National Justice Council (CNJ) established a new regulatory framework for the Judiciary’s Asset Search System (Sisbajud) through Ordinance 03/2024. This new regulation aims to improve efficiency and security in asset identification and freezing, while intensifying the fight against asset fraud. The key points are as follows: (i) Detection of Front Persons and Asset Concealment […]