{"id":22886,"date":"2026-10-03T13:53:51","date_gmt":"2026-10-03T13:53:51","guid":{"rendered":"https:\/\/generationimpact.global\/?p=22886"},"modified":"2026-10-03T13:22:55","modified_gmt":"2026-10-03T13:22:55","slug":"cvm-public-call-input-corporate-governance-report","status":"publish","type":"post","link":"https:\/\/generationimpact.global\/news\/cvm-public-call-input-corporate-governance-report\/","title":{"rendered":"Brazilian Securities Regulator CVM Launches Public Call for Input on Corporate Governance Disclosure Rules"},"content":{"rendered":"\n<p>Brazil&#x27;s Securities and Exchange Commission, CVM, has launched a public call for input to evaluate its corporate governance reporting framework for publicly traded companies.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Scope and Regulatory Context<\/strong><\/h2>\n<p>The Securities and Exchange Commission of Brazil, through its Advisory for Economic Analysis, Risk Management and Integrity, released Public Call for Input ASA\/CVM No. 01\/26. The initiative targets the disclosure regime for publicly held companies, focusing on the Corporate Governance Report governed by Annex D of CVM Resolution 80. Scheduled under CVM&#x27;s 2026 Regulatory Agenda, the call builds on a December 2024 Regulatory Result Evaluation which found that the report has a positive but limited effect on market practices.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Working Hypotheses Under Examination<\/strong><\/h2>\n<p>CVM is collecting technical evidence to test seven working hypotheses. These address whether the report&#x27;s added informational value is concentrated in a narrow group of practices, whether explanations for non-compliance tend toward boilerplate repetition, and whether direct utility is confined mainly to institutional investors.<\/p>\n<p>Additional hypotheses examine whether reporting costs disproportionately affect smaller issuers, whether concentrated ownership structures limit market discipline, and whether increased adoption of governance practices is driven by factors external to the report. CVM clarified that these hypotheses do not represent definitive regulatory conclusions or institutional preferences.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Consultation Timeline and Submission Format<\/strong><\/h2>\n<p>The consultation exercise is preliminary and exploratory, and any eventual regulatory adjustments will depend on the received evidence. Market participants and interested parties can submit contributions until 2 February 2027.<\/p>\n<p>Submissions must be sent via email in PDF format. Where quantitative data is included, respondents are required to submit the structured spreadsheet template provided in Annex I of the official call notice.<\/p>\n<div class=\"areoi-element\"><h2 class=\"wp-block-heading\"><strong>Frequently Asked Questions<\/strong><\/h2><div class=\"row areoi-element m-row-gap-20 section-faq mb-20 mb-lg-32\"><div class=\"col areoi-element col-12 d-flex flex-column gap-20\">\n<details class=\"wp-block-details m-fs-14\" style=\"font-size:16px\"><summary><h3 class=\"fs-18 m-fs-16 mb-0 fw-600 has-red-hat-text-font-family is-layout-flow wp-block-details-is-layout-flow\">What is the deadline for submitting feedback to CVM?<\/h3><\/summary><p class=\"fs-18 m-fs-16 mt-20 mb-0 has-custom-color-4-color has-text-color has-link-color\">Stakeholders must submit technical contributions to CVM by 2 February 2027.<\/p><\/details>\n<details class=\"wp-block-details m-fs-14\" style=\"font-size:16px\"><summary><h3 class=\"fs-18 m-fs-16 mb-0 fw-600 has-red-hat-text-font-family is-layout-flow wp-block-details-is-layout-flow\">What document formats are required for consultation submissions?<\/h3><\/summary><p class=\"fs-18 m-fs-16 mt-20 mb-0 has-custom-color-4-color has-text-color has-link-color\">Submissions must include a main document in PDF format and a completed annex spreadsheet for any quantitative data provided.<\/p><\/details>\n<\/div><\/div><script type=\"application\/ld+json\">{\"@context\": \"https:\/\/schema.org\", \"@type\": \"FAQPage\", \"mainEntity\": [{\"@type\": \"Question\", \"name\": \"What is the deadline for submitting feedback to CVM?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Stakeholders must submit technical contributions to CVM by 2 February 2027.\"}}, {\"@type\": \"Question\", \"name\": \"What document formats are required for consultation submissions?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Submissions must include a main document in PDF format and a completed annex spreadsheet for any quantitative data provided.\"}}]}<\/script><\/div>\n<h2 class=\"wp-block-heading\"><strong>Sources<\/strong><\/h2><ul class=\"wp-block-list ul-fix fs-16 m-fs-14\">\n<li><a href=\"https:\/\/www.gov.br\/cvm\/pt-br\/assuntos\/noticias\/2026\/cvm-lanca-edital-de-tomada-publica-de-subsidios-sobre-o-informe-de-governanca-corporativa\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">CVM lan\u00e7a Edital de Tomada P\u00fablica de Subs\u00eddios sobre o Informe de Governan\u00e7a Corporativa<\/a><\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Primary reference materials<\/strong><\/h2><ul class=\"wp-block-list ul-fix fs-16 m-fs-14\">\n<li><a href=\"https:\/\/generationimpact.global\/wp-content\/uploads\/arr_inf-gov-corporativa_20241213_vf.pdf\">&quot;Informe de Governan\u00e7a Corporativa: uma an\u00e1lise qualitativa e quantitativa sobre sua aplica\u00e7\u00e3o&quot;<\/a><\/li>\n<li><a href=\"https:\/\/generationimpact.global\/wp-content\/uploads\/edital_tps_informe_governanca.pdf\">Edital de Tomada P\u00fablica de Subs\u00eddios ASA\/CVM n\u00ba 01\/26<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Brazil&#x27;s Securities and Exchange Commission, CVM, has launched a public call for input to evaluate its corporate governance reporting framework for publicly traded companies. Scope and Regulatory Context The Securities and Exchange Commission of Brazil, through its Advisory for Economic Analysis, Risk Management and Integrity, released Public Call for Input ASA\/CVM No. 01\/26. The initiative [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":22895,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","css_class_manager_body_classes":"","css_class_manager_use_in_post_loop":false},"categories":[20],"tags":[1620,1468,168,1555,1188],"class_list":["post-22886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-brazil","tag-capital-markets","tag-corporate-governance","tag-cvm","tag-financial-regulation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brazil CVM Launches Call for Input on Governance Reporting<\/title>\n<meta name=\"description\" content=\"Brazil&#039;s CVM opens a public consultation on corporate governance disclosure rules for publicly listed companies, accepting feedback until February 2027.\" \/>\n<meta name=\"robots\" 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