Comissao de Valores Mobiliarios

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Comissao de Valores Mobiliarios
Founded 1976
Headquarters Rio de Janiero, Bazil
Key People Maria Helena Santana, Chairperson

The Commissão de Valores Mobiliários (CVM), [1] the Brazilian Securities and Exchange Commission, is an independent government entity linked to the Ministry of Finance. The CVM is its own legal entity and is endowed with independent administrative authority.

The CVM is directed by a board comprised of a chairman and four commissioners, all appointed by the president of Brazil.


The Comissao de Valores Mobiliarios was established by Law no. 6.385 of December 7, 1976.

Products and Services[edit]

The agency's objectives are to:

  • assure the proper functioning of the exchange and over-the-counter markets
  • protect all securities holders against fraudulent issues and illegal actions performed by company managers, controlling shareholders, or mutual fund managers
  • avoid or inhibit any kind of fraud or manipulation that may give rise to artificial price formation in the securities market
  • assure public access to all relevant information about the securities traded and the companies which have issued them
  • ensure that all market participants adopt fair trading practices
  • stimulate the formation of savings and their investment in securities
  • promote the expansion and efficiency of the securities market and the capitalization of Brazilian publicly held companies


  1. The Commission. Comissao de Valores Mobiliarios.