{"id":5774,"date":"2018-11-01T09:19:24","date_gmt":"2018-11-01T12:19:24","guid":{"rendered":"http:\/\/www.vivacquaadvogados.com\/?p=5774"},"modified":"2019-07-30T09:19:53","modified_gmt":"2019-07-30T12:19:53","slug":"brazilian-securities-and-exchange-commission-comissao-de-valores-mobiliarios-cvm-discloses-circular-letter-on-liquidity-risk-management-tools-in-funds","status":"publish","type":"post","link":"https:\/\/www.vivacquaadvogados.com\/en\/brazilian-securities-and-exchange-commission-comissao-de-valores-mobiliarios-cvm-discloses-circular-letter-on-liquidity-risk-management-tools-in-funds\/","title":{"rendered":"BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (COMISS\u00c3O DE VALORES MOBILI\u00c1RIOS \u201cCVM\u201d) DISCLOSES CIRCULAR LETTER ON LIQUIDITY RISK MANAGEMENT TOOLS IN FUNDS"},"content":{"rendered":"

On October 11th 2018 the Management of Market Structure and Electronic Systems (Ger\u00eancia de Estrutura de Mercado e Sistemas Eletr\u00f4nicos – “GME \/ SMI”), in partnership with the Superintendence of Investor Protection and Guidance (Superintend\u00eancia de Prote\u00e7\u00e3o e Orienta\u00e7\u00e3o aos Investidores – “SOI”) and the Financial Education Coordination (Coordena\u00e7\u00e3o de Educa\u00e7\u00e3o Financeira – “COE \/ SOI”) of the Brazilian Securities and Exchange Commission updated the booklet referring to the irregular offers of investment in the Forex market.<\/p>\n

As currency quotes vary freely, under the influence of political events or economic factors, the Forex market is characterized by its high volatility. Thus, although it is useful for hedging strategies against exchange rate variations, Forex trading is considered to be high risk.<\/p>\n

In this context, the updating of the booklet objective was to clarify investor doubts and alert them to the risks of such investment, among them: (i) volatility of foreign currencies<\/u>; (ii) leverage<\/u>; (iii) purely speculative nature, with no guarantees or liability<\/u>; and (iv) lack of information and adequate product protection.<\/u><\/p>\n

Finally, it should be noted that there are no entities in Brazil authorized by the Brazilian Securities and Exchange Commission to operate in this market<\/u>, and any offer considered illegal by them.<\/p>\n

Further information, as well as the full text of the booklet can be found on the Brazilian Securities and Exchange Commission (\u201cCVM\u201d) website (www.cvm.gov.br<\/a>).<\/p>\n<\/div>

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