Brazilian Securities and Exchange Commission (CVM)

Brazil's Securities and Exchange Commission CVM protects security holders and market investors


1. Market Development: Stimulates savings and their application in securities; promotes the efficient and regular expansion and functioning of the stock market; and encourages permanent investment in equity shares in public companies controlled by state private capital.
2. Efficiency and functioning of the market: ensuring the efficient and proper functioning of the stock and over-the-counter markets; ensuring compliance with fair trade practices in the securities market; and ensuring compliance in the market with the conditions for the use of credit prescribed by the National Monetary Commission
3. Investor protection: protect securities holders and market investors from improper securities offerings; prevent fraud
4. Access to Information: Ensuring public access to information on securities traded and companies issuing securities, administering laws and administering registration information for issuers, distribution and regulated agents
5. Monitoring and Sanctions: Continuously monitor the activities and services of the securities market, and disclose information about the market, its participants and the securities they trade.

Internal organizational structure

1. The Brazilian financial sector regulatory structure consists of four specific regulators: CVM (Securities Supervision), Central Bank (Prudential and Financial Institution Supervision), SUSEP (Insurance) and PREVIC (Pension)
2. The National Monetary Committee (CMN) consists of the Planning and Budget Administration (MoPBM), the Ministry of Finance (MOF), the Monetary Policy Committee (COPOM), and the Financial Stability Committee (COMEF).
3. The CMN has no supervisory powers, it issues general guidelines that apply to the entire financial services sector in Brazil.
4. The CVM is responsible for the business conduct and market regulation of intermediaries and other secondary markets, stocks, derivatives and non-government debt.

Contact information

Inquiry and Complaint Email: [email protected]
Inquiry and Complaint Tel: 55 (21) 3554-8315
Headquarters Phone: 55 (21) 3554-8686
Chairman Tel: 55 21 3554 8242
Chairman Fax: 55 21 2221 6769
Chairman's email: [email protected]
Commissioner Tel: 55 21 3554-8250 / 8251/8252/8253/8248/8249
Commissioner Fax: 55 21 3554-8531
Commissioner Email: [email protected]/ [email protected]/ [email protected]
Address: Rua Sete de Setembro 111 - Centro,CEP: 20050-901,Rio de Janeiro/RJ - Brazil

Related Links

Basel Committee on Banking Supervision (BCBS):
International Monetary Fund (IMF):

Forex Regulatory Tips

In Bulgaria, foreign exchange dealers are Investment Firms. The Bulgarian FSC regulates foreign exchange transactions.

List of Regulated Companies

A total of 65 companies are regulated and licensed foreign exchange brokers. The full name is abbreviation. Regulatory status ABV – INVESTMENTS EOOD ABV INVESTMENTS regulated АВС FINANCE AD АВС FINANCE regulated ADAMANT CAPITAL PARTNERS AD ADAMANT CAPITAL regulated ALARIC SECURITIES OOD ALARIC SECURITIES regulated In ALLIANZ BANK BULGARIA AD ALLIANZ BANK In supervision AVAL IN AD AVAL In supervision BALKAN ADVISORY COMPANY – IP EAD BALKAN ADVISORY In supervision Lenno Global Advisory JSC Lenno Global In supervision BENCHMARK FINANCE AD BENCHMARK FINANCE In supervision „EMIRATES WEALTH“ EAD EMIRATES WEALTH In supervision< /p>

Organization Profile

Institutional nature: government nature
Institution introduction: The Bulgarian Financial Supervisory Commission FSC was established on March 1, 2003 in accordance with the regulations of the Financial Supervisory Commission. It is a government agency independent of the executive, reporting activities directly to the Congress of the Republic of Bulgaria, and is responsible for regulating the different markets of the Bulgarian financial system.
Regulatory objects: Bulgaria's capital market, insurance market, health insurance market, and pension insurance market.
Primary Responsibilities: The Commission's primary mission is to maintain the stability and openness of non-bank financial markets through legislative, administrative and informational means, and to enhance consumer protection of financial services and financial products.

Regulatory Inquiries

1. Open the official website of the Bulgarian FSC,
2. Click on the navigation bar Markets - Capital market - List of supervised entities - Investment Firms

3. If you want to check whether the foreign exchange platform is regulated by the Bulgarian FSC, use "ctrl F" and enter a keyword to find it.

Licence application

Minimum Registered Capital: License Type Minimum Registered Capital (Bulgarian Lev) to operate multilateral trading facilities, operate organized trading facilities 1.5 million Hold client funds and financial instruments, receive and transmit orders for one or more financial instruments, Portfolio Investment Management 250,000 Do not hold client funds, do not trade own accounts, do not underwrite and/or underwrite financial instruments, do not operate multilateral trading facilities and organized trading facilities Funds, providing only one or more investment services (receiving and transmitting orders for one or more financial instruments, executing orders on behalf of clients, portfolio investment management and/or providing investment advice) 100,000
Note: 1 Bulgarian Lev is about 4.19 yuan.

Application requirements:
(1) Submit financial statements, capital adequacy ratio statement, loan and financial accounting statement, asset profit ratio statement, company basic information table, company employee table, etc. to FSC.
(2) Ensure that at least 2 people in the management meet relevant regulatory requirements and have relevant experience, such as at least one year in the non-banking financial industry, or 3 years of experience in the financial field of other government public institutions.
(3) The company's internal control system needs to be reasonable, and the organizational framework needs to be clear and transparent.

Regulatory complaints

1. Complaint steps:
1. First, ask the relevant questions to the company that provides you with financial products or financial services.
2. If the other party does not provide a satisfactory solution, or believes that your complaint is unfounded, you can seek assistance from the FSC.
2. Steps to handle the appeal:
1. Assessing the adequacy of the information and documentation submitted is important for us to be able to make a rational recommendation on the appeal. If we require further details, we will contact you if necessary.
2. Similarly, FSA will also get in touch with the individual or company you complain about to obtain necessary relevant data and information.
3. If we find that the company has not violated legal requirements, we will communicate our opinion. On the other hand, if we find that there are administrative violations, we will take corresponding measures and notify you in place.
4. Time limits for appeals and responses vary, depending on the details of your appeal and the investigation process.
3. How to submit a complaint to FSC
Prepare a written appeal detailing your issue and request, and attach copies of relevant documents. (Note that you only need to attach a copy, keep the original for yourself)
Write your name, address, and phone number and email in your appeal letter.
Complaints can be sent to [email protected]
Or by post to the following address: Financial Supervision Commission №16 Budapeshta Str. 1000 Sofia

Related Links

Consumer Protection Commission:
European Consumer Center:
Consumer Support Association :

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