{"id":3548,"date":"2021-07-14T13:29:33","date_gmt":"2021-07-14T13:29:33","guid":{"rendered":"https:\/\/moreiramenezes.com.br\/?p=3548"},"modified":"2021-07-14T13:55:50","modified_gmt":"2021-07-14T13:55:50","slug":"newsletter-n82","status":"publish","type":"post","link":"https:\/\/moreiramenezes.com.br\/en\/newsletter-n82\/","title":{"rendered":"Newsletter N\u00b082"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"3548\" class=\"elementor elementor-3548\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-349475bc elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"349475bc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 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elementor-top-column elementor-element elementor-element-432017c1\" data-id=\"432017c1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-196ee0a4 elementor-section-content-middle elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"196ee0a4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-412ab52\" data-id=\"412ab52\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-11073711 elementor-widget elementor-widget-image\" data-id=\"11073711\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg\" class=\"attachment-large size-large wp-image-2163\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3b06700c\" data-id=\"3b06700c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7c27728a elementor-widget elementor-widget-heading\" data-id=\"7c27728a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Newsletter n\u00ba 82 | 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edition:\t\t\t<\/h4>\n\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__f4591e0\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__f4591e0\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/div>\n\t\t\t\t\t<\/div>\n\t\t<div id=\"elementor-toc__f4591e0\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<svg class=\"elementor-toc__spinner eicon-animation-spin e-font-icon-svg e-eicon-loading\" aria-hidden=\"true\" viewbox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M500 975V858C696 858 858 696 858 500S696 142 500 142 142 304 142 500H25C25 237 238 25 500 25S975 237 975 500 763 975 500 975Z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-539af4ad elementor-widget elementor-widget-spacer\" data-id=\"539af4ad\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e427d72 elementor-widget elementor-widget-heading\" data-id=\"2e427d72\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">CVM orienta administradores de fundos de investimento sobre novo sistema de gest\u00e3o de fundos<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-270e6c11 elementor-widget elementor-widget-text-editor\" data-id=\"270e6c11\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Em 22.06.2021, a Superintend\u00eancia de Rela\u00e7\u00f5es com Investidores Institucionais \u2013 SIN da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM divulgou o Of\u00edcio Circular n\u00ba 06\/2021\/CVM\/SIN (\u201c<u>Of\u00edcio<\/u>\u201d), por meio do qual a CVM anunciou o lan\u00e7amento do Sistema de Gest\u00e3o de Fundos de Investimento \u2013 SGF, aplic\u00e1vel aos fundos de investimento regulados pela Instru\u00e7\u00e3o CVM n\u00ba 555\/2014.<\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">No Of\u00edcio, a SIN esclarece que os administradores de fundos de investimento dever\u00e3o acessar o SGF por meio do mesmo login e senha utilizado no sistema \u201cCVMWeb\u201d e efetuar o registro dos fundos no sistema SGF. Com isso, o \u201cCVMWeb\u201d deixar\u00e1 de ser usado para essa fun\u00e7\u00e3o.<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Conforme exposto no Of\u00edcio, assim como o \u201cCVMWeb\u201d, o SGF funcionar\u00e1 como instrumento de gest\u00e3o, permitindo o acompanhamento e altera\u00e7\u00e3o das informa\u00e7\u00f5es de cada fundo em todas as fases de sua exist\u00eancia, desde o in\u00edcio do procedimento de registro do fundo at\u00e9 seu encerramento. O SGF contemplar\u00e1, desse modo, atualiza\u00e7\u00f5es cadastrais, registros de integraliza\u00e7\u00e3o de cotas, altera\u00e7\u00f5es de data de encerramento de exerc\u00edcio social e substitui\u00e7\u00e3o da institui\u00e7\u00e3o administradora, dentre outras funcionalidades.<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">O SGF tamb\u00e9m permite a consulta a protocolos de registros, altera\u00e7\u00f5es realizadas e consultas consolidadas a todas as informa\u00e7\u00f5es disponibilizadas.<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">O Of\u00edcio ainda esclarece os seguintes pontos:<\/span><\/p>\n<p style=\"padding-left: 40px;\"><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">(i) <u>procedimentos para a altera\u00e7\u00e3o de gestor de fundos<\/u>: para promover a altera\u00e7\u00e3o do gestor de um fundo de investimento, os administradores dever\u00e3o cadastrar o novo gestor do fundo no SGF para, posteriormente, excluir o antigo gestor. Caso esse procedimento n\u00e3o seja realizado dessa forma, o sistema apresentar\u00e1 erro no envio das informa\u00e7\u00f5es;<\/span><\/p>\n<p style=\"padding-left: 40px;\"><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">(ii) <u>altera\u00e7\u00f5es que continuar\u00e3o sendo realizadas pela Ger\u00eancia de Acompanhamento de Fundos \u2013 GIFI<\/u>: n\u00e3o \u00e9 poss\u00edvel, na vers\u00e3o disponibilizada do SGF, registrar a transforma\u00e7\u00e3o de fundos de investimento em fundos estruturados. Nesse caso, os administradores de fundos de investimento dever\u00e3o solicitar \u00e0 GIFI, por meio do correio eletr\u00f4nico da ger\u00eancia, a realiza\u00e7\u00e3o de quaisquer altera\u00e7\u00f5es nos dados dos fundos decorrentes de transforma\u00e7\u00f5es dessa natureza; e<\/span><\/p>\n<p style=\"padding-left: 40px;\"><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">(iii) <u>altera\u00e7\u00f5es cadastrais e encerramento de fundos de investimento<\/u>: todos os fundos de investimento, ainda que tenham sido registrados no sistema CVMWeb, dever\u00e3o ter seus cadastros atualizados e seu respectivo registro encerrados diretamente pelo sistema SGF.&nbsp;<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Por fim, o Of\u00edcio informa que o SGF se destina apenas ao registro de informa\u00e7\u00f5es cadastrais de fundos de investimentos, de modo que o envio de informa\u00e7\u00f5es peri\u00f3dicas (i.e., informe di\u00e1rio, perfil mensal, CDA, balancetes, l\u00e2minas e as demonstra\u00e7\u00f5es financeiras auditadas) continuar\u00e1 sendo realizado por meio do sistema CVMWeb.<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Maiores informa\u00e7\u00f5es, bem como o inteiro teor do Of\u00edcio, podem ser encontrados no site da CVM (www.gov.br\/cvm).<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a1d6f05 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6a1d6f05\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-33fe2eec elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33fe2eec\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-42f76604\" data-id=\"42f76604\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-25066afe elementor-widget elementor-widget-heading\" data-id=\"25066afe\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">CVM promove audi\u00eancia p\u00fablica para alterar a Resolu\u00e7\u00e3o CVM n\u00ba 31<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-595e497c elementor-widget elementor-widget-text-editor\" data-id=\"595e497c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Em 30.06.2021, a Superintend\u00eancia de Desenvolvimento de Mercado \u2013 SDM da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM divulgou o Edital de Audi\u00eancia P\u00fablica SDM n\u00ba 04\/2021 (\u201c<u>Edital<\/u>\u201d), submetendo \u00e0 audi\u00eancia p\u00fablica minuta de resolu\u00e7\u00e3o que altera pontualmente a reda\u00e7\u00e3o da Resolu\u00e7\u00e3o CVM n\u00ba 31\/2021 (\u201c<u>RCVM n\u00ba 31<\/u>\u201d) que disp\u00f5e sobre a presta\u00e7\u00e3o de servi\u00e7os de dep\u00f3sito centralizado de valores mobili\u00e1rios, para prever expressamente a possibilidade de constitui\u00e7\u00e3o de gravames sobre cotas de fundos de investimento abertos (\u201c<u>Minuta<\/u>\u201d).<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">A reda\u00e7\u00e3o atual do art. 36, \u00a7 4\u00ba, da RCVM n\u00ba 31 estabelece a necessidade de registro da constitui\u00e7\u00e3o de gravames e \u00f4nus sobre posi\u00e7\u00f5es mantidas em contratos derivativos de qualquer natureza, desde que o deposit\u00e1rio central seja autorizado a prestar servi\u00e7os de registro de tais contratos.\u00a0<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Por sua vez, a minuta prop\u00f5e alterar a reda\u00e7\u00e3o do referido \u00a7 4\u00ba e inserir \u00a7 5\u00ba para, respectivamente, (i) permitir que qualquer deposit\u00e1rio central autorizado a prestar servi\u00e7os de registro de valores mobili\u00e1rios efetue o registro de gravames e \u00f4nus sobre os valores mobili\u00e1rios por eles registrados; e (ii) inserir a possibilidade de registro de \u00f4nus e gravames sobre cotas de fundos de investimento abertos.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Al\u00e9m disso, a CVM pretende manter a exig\u00eancia de que o deposit\u00e1rio central comprove a exist\u00eancia dos contratos derivativos nos casos de registro de gravames e \u00f4nus constitu\u00eddos sobre tais contratos. No entanto, a Minuta n\u00e3o reproduz a mesma exig\u00eancia para o registro de gravames e \u00f4nus constitu\u00eddos sobre cotas de fundos de investimento abertos.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Finalmente, o Edital provoca a manifesta\u00e7\u00e3o dos participantes do mercado acerca das seguintes quest\u00f5es de interesse da CVM: (i) necessidade ou conveni\u00eancia de exig\u00eancia de que o administrador do fundo de investimento aberto seja comunicado sobre a constitui\u00e7\u00e3o e as modifica\u00e7\u00f5es de gravames e \u00f4nus constitu\u00eddos sobre as cotas de tal fundo; e (ii) conveni\u00eancia da amplia\u00e7\u00e3o das medidas propostas na Minuta para outros tipos de valores mobili\u00e1rios.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Sugest\u00f5es e coment\u00e1rios \u00e0 Minuta dever\u00e3o ser encaminhados, por escrito, at\u00e9 o dia 13.08.2021 \u00e0 SDM, por meio do endere\u00e7o de e-mail \u201caudpublicaSDM0421@cvm.gov.br\u201d.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Maiores informa\u00e7\u00f5es, bem como o texto integral da Minuta, podem ser encontrados no site da CVM (www.gov.br\/cvm).<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5460324c elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5460324c\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1d80b597 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1d80b597\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-613d44d2\" data-id=\"613d44d2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7633569e elementor-widget elementor-widget-heading\" data-id=\"7633569e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">CVM divulga comunicado do GAFI\/FATF sobre pa\u00edses com potencial risco ao sistema financeiro<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-563dd8e1 elementor-widget elementor-widget-text-editor\" data-id=\"563dd8e1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Em 30.06.2021, as Superintend\u00eancias de Rela\u00e7\u00f5es com o Mercado de Intermedi\u00e1rios \u2013 SMI e de Rela\u00e7\u00f5es com Investidores Institucionais \u2013 SIN da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM divulgaram o Informe CVM 03\/2021: Comunica\u00e7\u00e3o GAFI\/FATF (\u201c<u>Informe CVM 03<\/u>\u201d).<\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Por meio do referido documento, a CVM informa a divulga\u00e7\u00e3o de comunicado do Grupo de A\u00e7\u00e3o Financeira (<i>Financial Action Task Force<\/i> \u2013 \u201cGAFI\/FATF\u201d), organismo intergovernamental criado em 1989 para combater a lavagem de dinheiro, o financiamento ao terrorismo e outras amea\u00e7as ao sistema financeiro internacional.&nbsp;<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">O comunicado em quest\u00e3o \u00e9 resultante da \u00faltima reuni\u00e3o plen\u00e1ria do GAFI\/FATF e (i) identifica as jurisdi\u00e7\u00f5es que possuem defici\u00eancias estrat\u00e9gicas no atendimento aos padr\u00f5es globais de preven\u00e7\u00e3o e combate \u00e0 lavagem de dinheiro, financiamento ao terrorismo e prolifera\u00e7\u00e3o de armas de destrui\u00e7\u00e3o em massa; bem como (ii) apresenta os compromissos pol\u00edticos das jurisdi\u00e7\u00f5es identificadas, al\u00e9m da evolu\u00e7\u00e3o no cumprimento destes.<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">A divulga\u00e7\u00e3o do Informe CVM 03 \u00e9 uma articula\u00e7\u00e3o do N\u00facleo de Preven\u00e7\u00e3o \u00e0 Lavagem de Dinheiro e Financiamento do Terrorismo da Superintend\u00eancia Geral \u2013 SGE da CVM com a SMI e a SIN e tem por intuito auxiliar os participantes do mercado sujeitos \u00e0 Instru\u00e7\u00e3o CVM n\u00ba 617\/2019.<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Nesse cen\u00e1rio, os seguintes pa\u00edses considerados com defici\u00eancias estrat\u00e9gicas no atendimento aos padr\u00f5es globais de preven\u00e7\u00e3o e combate \u00e0 lavagem de dinheiro tiveram seu progresso revisto pelo GAFI\/FATF desde fevereiro de 2021: Alb\u00e2nia, Barbados, Botsuana, Camboja, Ilhas Cayman, Gana, Jamaica, Ilhas Maur\u00edcio, Marrocos, Mianmar, Nicar\u00e1gua, Paquist\u00e3o, Panam\u00e1, Uganda e Zimb\u00e1bue.&nbsp;<\/span><\/p>\n<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Ap\u00f3s revis\u00e3o, o GAFI tamb\u00e9m passou a contemplar em tal lista o Haiti, Malta, Filipinas e o Sud\u00e3o do Sul como pa\u00edses com defici\u00eancias estrat\u00e9gicas. Por sua vez, Gana deixou de estar sujeita ao monitoramento intensificado pelo GAFI\/FATF.<\/span><\/p>\n<p>Maiores informa\u00e7\u00f5es, bem como o inteiro teor do Informe CVM 03, podem ser encontrados no site da CVM (www.gov.br\/cvm).<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df0b583 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"df0b583\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-be26991 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"be26991\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-9ebc3fb\" data-id=\"9ebc3fb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-de4587f elementor-widget elementor-widget-heading\" data-id=\"de4587f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Entra em vigor Instru\u00e7\u00e3o Normativa do DREI que institui procedimento para digitaliza\u00e7\u00e3o de livros societ\u00e1rios<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-871d5f8 elementor-widget elementor-widget-text-editor\" data-id=\"871d5f8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Em 22.06.2021, entrou em vigor a Instru\u00e7\u00e3o Normativa n\u00ba 82\/2021, editada pelo Departamento Nacional de Registro Empresarial e Integra\u00e7\u00e3o \u2013 DREI do Minist\u00e9rio da Economia, que institui procedimentos para autentica\u00e7\u00e3o dos livros, cont\u00e1beis ou n\u00e3o, dos empres\u00e1rios individuais, empresas individuais de responsabilidade limitada \u2013 EIRELI e das sociedades e dos agentes auxiliares do com\u00e9rcio (\u201c<u>Instru\u00e7\u00e3o<\/u>\u201d).\u00a0<\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Conforme noticiado pela Newsletter Moreira Menezes, Martins n\u00ba 77 (fevereiro\/2021), a referida Instru\u00e7\u00e3o foi publicada em 22.02.2021 com o objetivo de simplificar, uniformizar, modernizar e automatizar os procedimentos relativos \u00e0 autentica\u00e7\u00e3o dos termos de abertura e de encerramento dos instrumentos de escritura\u00e7\u00e3o cont\u00e1bil, dos livros sociais e dos livros dos agentes auxiliares do com\u00e9rcio, consolidando normas e diretrizes gerais acerca dos procedimentos a serem observados para a elabora\u00e7\u00e3o e autentica\u00e7\u00e3o dos referidos documentos, alinhada com as inova\u00e7\u00f5es introduzidas pela Medida Provis\u00f3ria n\u00ba 1.040\/2021.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Nesse sentido, a Instru\u00e7\u00e3o institui a obrigatoriedade de que os livros e instrumentos de escritura\u00e7\u00e3o sejam exclusivamente digitais, podendo ser produzidos ou lan\u00e7ados em plataformas eletr\u00f4nicas, armazenadas ou n\u00e3o nos servidores das Juntas Comerciais. Tais sistemas garantir\u00e3o a seguran\u00e7a, a confiabilidade e inviolabilidade dos dados armazenados.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Com a entrada em vigor da Instru\u00e7\u00e3o, n\u00e3o poder\u00e3o mais ser apresentados para autentica\u00e7\u00e3o novos livros em papel, preenchidos ou em branco. A assinatura dos termos de abertura e encerramento, por sua vez, tamb\u00e9m passa a ser integralmente digital e ser\u00e1 realizada por meio de certificado digital emitido por entidade credenciada pelo ICP-Brasil.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Outro aspecto relevante implementado pela Instru\u00e7\u00e3o diz respeito \u00e0 autentica\u00e7\u00e3o autom\u00e1tica dos termos de abertura e encerramento. Nesse sentido, tais documentos dever\u00e3o ser automaticamente autenticados pela Junta Comercial se o interessado declarar que cumpriu todas as formalidades legais e apresentar comprovante de pagamento da respectiva guia de arrecada\u00e7\u00e3o. Caso seja verificado, posteriormente, erro material nos termos de abertura e encerramento, sua autentica\u00e7\u00e3o poder\u00e1 ser cancelada, por iniciativa da Junta Comercial ou do titular da escritura\u00e7\u00e3o.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Finalmente, a Instru\u00e7\u00e3o prev\u00ea que os livros autenticados por qualquer outro processo anteriormente \u00e0 Instru\u00e7\u00e3o permanecer\u00e3o em uso at\u00e9 que se esgotem.<\/span><\/p><p>Maiores informa\u00e7\u00f5es, bem como o inteiro teor da Instru\u00e7\u00e3o, podem ser encontrados no site do DREI (www.gov.br\/economia\/pt-br\/assuntos\/drei).<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-79fb564 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"79fb564\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-97805b3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"97805b3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5d051e6\" data-id=\"5d051e6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cc106c0 elementor-widget elementor-widget-heading\" data-id=\"cc106c0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Receita Federal divulga solu\u00e7\u00e3o de consulta com orienta\u00e7\u00f5es sobre a tributa\u00e7\u00e3o de doa\u00e7\u00f5es de cotas de fundos fechados<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ee802af elementor-widget elementor-widget-text-editor\" data-id=\"ee802af\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Em 01.07.2021 a Coordena\u00e7\u00e3o-Geral de Tributa\u00e7\u00e3o \u2013 Cosit publicou a Solu\u00e7\u00e3o de Consulta Cosit n\u00ba 98 (\u201c<u>Solu\u00e7\u00e3o de Consulta Cosit<\/u>\u201d), contendo esclarecimentos sobre a incid\u00eancia do Imposto de Renda de Pessoa F\u00edsica \u2013 IRPF sobre a doa\u00e7\u00e3o em adiantamento de leg\u00edtima de cotas de fundos de investimento em a\u00e7\u00f5es fechados.\u00a0<\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">A Solu\u00e7\u00e3o de Consulta Cosit estabelece que, \u00e0s doa\u00e7\u00f5es em adiantamento de leg\u00edtima de cotas de fundo de investimento fechados, se aplicam as normas tribut\u00e1rias relativas ao ganho de capital na doa\u00e7\u00e3o em adiantamento de leg\u00edtima.\u00a0<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Sendo assim, aplica-se o art. 16, inciso II, da Instru\u00e7\u00e3o Normativa RFB n\u00ba 1.585\/2015, segundo o qual os ganhos na aliena\u00e7\u00e3o de cotas auferidos por pessoa f\u00edsica em opera\u00e7\u00f5es realizadas fora de bolsa devem seguir as regras aplic\u00e1veis \u00e0 tributa\u00e7\u00e3o dos ganhos de capital na aliena\u00e7\u00e3o de bens ou direitos de qualquer natureza.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">A Solu\u00e7\u00e3o de Consulta Cosit esclarece que a opera\u00e7\u00e3o em quest\u00e3o deve ser disciplinada pelo art. 23 da Lei n\u00ba 9.632\/1997, segundo o qual as transfer\u00eancias de direitos de propriedade por sucess\u00e3o, heran\u00e7a, legado ou doa\u00e7\u00e3o em adiantamento da leg\u00edtima poder\u00e3o ser avaliadas (i) a valor de mercado ou (ii) pelo valor constante na declara\u00e7\u00e3o do de cujus ou doador, conforme aplic\u00e1vel.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Al\u00e9m disso, se a doa\u00e7\u00e3o em adiantamento de leg\u00edtima de cotas de fundo de investimento em a\u00e7\u00f5es fechado for avaliada pelo custo de aquisi\u00e7\u00e3o, n\u00e3o haver\u00e1 incid\u00eancia do IRPF no momento da doa\u00e7\u00e3o, uma vez que inexiste ganho de capital. Nessas hip\u00f3teses, o IRPF incidir\u00e1 apenas no momento de resgate das cotas e ocorrer\u00e1 em nome do donat\u00e1rio.\u00a0<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Por outro lado, caso a doa\u00e7\u00e3o seja avaliada pelo valor de mercado das cotas, ser\u00e1 considerada como ganho de capital a diferen\u00e7a entre o valor de mercado e o valor constante da \u00faltima Declara\u00e7\u00e3o do IRPF \u2013 DIRPF do doador, caso o primeiro seja superior. Nessa hip\u00f3tese, incidir\u00e1 o IRPF \u00e0 al\u00edquota de 15%.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Ressalta-se que, nos termos da Solu\u00e7\u00e3o de Consulta Cosit, o donat\u00e1rio dever\u00e1 registrar em sua DIRPF as cotas recebidas pelo valor em que for efetivada a doa\u00e7\u00e3o, informando a opera\u00e7\u00e3o e seus valores ao administrador do fundo de investimento, para que formalize a transfer\u00eancia das cotas.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Finalmente, a Cosit esclarece que os entendimentos consolidados por meio da Solu\u00e7\u00e3o de Consulta Cosit tamb\u00e9m s\u00e3o compat\u00edveis com a hip\u00f3tese de sucess\u00e3o causa mortis de cotas de fundos de investimento em a\u00e7\u00f5es fechados.\u00a0<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Maiores informa\u00e7\u00f5es, bem como o inteiro teor da Solu\u00e7\u00e3o de Consulta Cosit, podem ser encontrados no site da Receita Federal (www.gov.br\/receitafederal\/pt-br).<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-bba458b elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"bba458b\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-381cd6c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"381cd6c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-deca841\" data-id=\"deca841\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9abdb8f elementor-widget elementor-widget-heading\" data-id=\"9abdb8f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">STJ considera a habilita\u00e7\u00e3o retardat\u00e1ria do cr\u00e9dito na recupera\u00e7\u00e3o judicial uma faculdade do credor<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-27e306c elementor-widget elementor-widget-text-editor\" data-id=\"27e306c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Em 25.05.2021, no julgamento do Recurso Especial n\u00ba 1.851.692\/RS, a Quarta Turma do Superior Tribunal de Justi\u00e7a \u2013 STJ considerou a habilita\u00e7\u00e3o retardat\u00e1ria do cr\u00e9dito n\u00e3o inclu\u00eddo no plano de recupera\u00e7\u00e3o judicial como uma faculdade do credor.<\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Como regra geral, os cr\u00e9ditos existentes na data do pedido de recupera\u00e7\u00e3o judicial estar\u00e3o sujeitos aos efeitos deste. Para tanto, a Lei n\u00ba 11.101\/2005 estabelece procedimento espec\u00edfico para apura\u00e7\u00e3o dos cr\u00e9ditos devidos, seja em rela\u00e7\u00e3o ao valor, seja em rela\u00e7\u00e3o \u00e0 sua classifica\u00e7\u00e3o. Os cr\u00e9ditos apurados ser\u00e3o contemplados no quadro-geral de credores.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Al\u00e9m disso, conforme disposto no art. 10, \u00a76\u00ba, da Lei n\u00ba 11.101\/2005, o credor que n\u00e3o tiver seu cr\u00e9dito contemplado pelo quadro-geral de credores poder\u00e1 requerer, de forma retardat\u00e1ria, a habilita\u00e7\u00e3o do cr\u00e9dito, para que seja processado em conjunto com a recupera\u00e7\u00e3o judicial.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Nesse cen\u00e1rio, a Quarta Turma do STJ analisou a situa\u00e7\u00e3o em que o credor n\u00e3o tem interesse em habilitar seu cr\u00e9dito (ainda que de forma retardat\u00e1ria), mas sim retomar a execu\u00e7\u00e3o individual de seu cr\u00e9dito ap\u00f3s o encerramento da recupera\u00e7\u00e3o judicial.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">No entendimento da referida Turma, a habilita\u00e7\u00e3o retardat\u00e1ria deve ser considerada uma prerrogativa do credor, uma vez que a Lei n\u00ba 11.101\/2005 n\u00e3o imp\u00f5e ao credor qualquer obriga\u00e7\u00e3o de habilitar seu cr\u00e9dito. Se o cr\u00e9dito n\u00e3o for abrangido pelo plano de recupera\u00e7\u00e3o judicial, n\u00e3o haver\u00e1 que se falar em sua nova\u00e7\u00e3o.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Portanto, o credor que for voluntariamente exclu\u00eddo do plano de recupera\u00e7\u00e3o judicial det\u00e9m a prerrogativa de decidir entre (i) habilitar o seu cr\u00e9dito ou (ii) promover a execu\u00e7\u00e3o individual ap\u00f3s o encerramento da recupera\u00e7\u00e3o.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">O Relator, que foi acompanhado pelos demais integrantes da Quarta Turma, salientou ainda que os credores que optarem por n\u00e3o habilitar seu cr\u00e9dito ficam obrigados a aguardar o encerramento da recupera\u00e7\u00e3o judicial antes de dar andamento \u00e0 execu\u00e7\u00e3o individual do seu cr\u00e9dito.<\/span><\/p><p>Maiores informa\u00e7\u00f5es, bem como o inteiro teor do Ac\u00f3rd\u00e3o proferido no Recurso Especial n\u00ba 1.851.692\/RS, podem ser encontrados no site do STJ (www.stj.jus.br).<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-60c03f8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"60c03f8\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c73e61e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c73e61e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-ad0d82f\" data-id=\"ad0d82f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8bae9bc elementor-widget elementor-widget-heading\" data-id=\"8bae9bc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Jurisprud\u00eancia<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c1aea3 elementor-widget elementor-widget-text-editor\" data-id=\"3c1aea3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Tribunal de Justi\u00e7a do Estado de S\u00e3o Paulo<\/b><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">A\u00e7\u00e3o ajuizada por companhia contra (a) acionistas e Instituto Brasileiro de Ativismo e Societ\u00e1rio Brasileiro de Ativismo que figuram no polo ativo em dois procedimentos arbitrais instaurados em seu desfavor; (b) B3 S.A. &#8211; Brasil, Bolsa, Balc\u00e3o e outros, respons\u00e1vel pela administra\u00e7\u00e3o da C\u00e2mara de Arbitragem do Mercado CAM, onde tramitam os procedimentos arbitrais. Demanda pela qual a autora busca a declara\u00e7\u00e3o de ilegalidade de decis\u00e3o proferida pela Presid\u00eancia da CAM, bem como seja determinada a reuni\u00e3o, por conex\u00e3o, dos dois procedimentos arbitrais.<\/span><\/p><p>Senten\u00e7a de improced\u00eancia. Apela\u00e7\u00e3o da autora. Segredo de justi\u00e7a. A regra do sistema \u00e9 publicidade dos atos processuais, de acordo com os arts. 5\u00ba, LX, e 93, IX, da Constitui\u00e7\u00e3o Federal. O segredo que normalmente se imp\u00f5e \u00e0s arbitragens \u00e9 pernicioso \u00e0 transpar\u00eancia e \u00e0 pr\u00f3pria higidez do Mercado de Capitais; mais ainda \u00e9 obst\u00e1culo ao prest\u00edgio do Direito Comercial. A cultura jur\u00eddica, a Academia, t\u00eam interesse em conhecer o que neles se passa. As decis\u00f5es arbitrais devem ser difundidas, divulgando-se sua jurisprud\u00eancia de modo acess\u00edvel a todos os interessados, evitando-se execr\u00e1vel assimetria de informa\u00e7\u00f5es, que obsta a forma\u00e7\u00e3o do direito que decorre da consolida\u00e7\u00e3o dos precedentes. A respeito: &#8220;A publicidade gera a oportunidade n\u00e3o s\u00f3 de conhecimento, mas, sobretudo, de controle, na forma legal, de decis\u00f5es, o que \u00e9 inerente ao processo legal e \u00e0 pr\u00f3pria ess\u00eancia do Estado de Direito, pois se trata de servi\u00e7o p\u00fablico, vale dizer, para o p\u00fablico, primordial.&#8221; (ARNALDO ESTEVES DE LIMA). A publicidade contribui, ademais, para serem afastados os rumores acerca do desvirtuamento das arbitragens, por serem sempre os mesmos seus part\u00edcipes, ora como advogados, ora como \u00e1rbitros, ora como pareceristas, ora ainda como \u201cexperts\u201d da Corte, \u00e0s vezes de modo simult\u00e2neo, em situa\u00e7\u00e3o causadora de perplexidade aos jurisdicionados que, depreciativamente, se convencionou chamar de \u201cchap\u00e9u duplo\u201d ou \u201crevolving door\u201d. \u201cNa administra\u00e7\u00e3o da Justi\u00e7a cumpre evitar a suspeita (pr\u00f3pria ou impr\u00f3pria) quanto \u00e0 correta aplica\u00e7\u00e3o do Direito.\u201d (DIOGO DIAS DA SILVA).<\/p><p>Impossibilidade de aprecia\u00e7\u00e3o, pelo Poder Judici\u00e1rio, do pedido de reuni\u00e3o dos processos arbitrais para julgamento conjunto. Tendo os acionistas inclu\u00eddo cl\u00e1usula compromiss\u00f3ria no estatuto social, remetendo a resolu\u00e7\u00e3o de conflitos a Tribunal Arbitral, ficam vinculados aos seus termos e regras. Norma do Regulamento da C\u00e2mara Arbitral atribuindo compet\u00eancia a seu Presidente para determinar a reuni\u00e3o dos procedimentos para julgamento conjunto, o que afasta a interven\u00e7\u00e3o judicial. Faculdade de reuni\u00e3o dos procedimentos que decorre de considera\u00e7\u00f5es de conveni\u00eancia, consideradas as circunst\u00e2ncias do caso concreto, especialmente em casos envolvendo litiscons\u00f3rcio multitudin\u00e1rio. Doutrina de RENATO RESENDE BENEDUZI. No presente caso, em que um dos procedimentos arbitrais envolve tutela de direitos metaindividuais, o Tribunal Arbitral examinar\u00e1 a admissibilidade, entre n\u00f3s, de procedimento arbitral coletivo, o que, certamente, tomar\u00e1 tempo significativo das partes e dos \u00e1rbitros, prejudicando, em tese, a celeridade da resolu\u00e7\u00e3o da disputa no que se refere aos acionistas requerentes do outro procedimento arbitral.<\/p><p>As regras a respeito da conex\u00e3o no processo civil e no processo arbitral s\u00e3o distintas. \u201cDiferentemente da tutela jurisdicional estatal, a coer\u00eancia do sistema pode n\u00e3o ser a finalidade a ser buscada pela arbitragem, pelo menos n\u00e3o na mesma intensidade. As partes podem ter outros interesses leg\u00edtimos que justifiquem que dois processos arbitrais relacionados sejam julgados separadamente, ainda que, por l\u00f3gica e economia processual, pudessem ser julgados em conjunto\u201d (PAULO MACEDO GARCIA NETO).<\/p><p>Senten\u00e7a de improced\u00eancia que se confirma. Apela\u00e7\u00e3o da autora a que se nega provimento.<\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">(Tribunal de Justi\u00e7a do Estado de S\u00e3o Paulo. Apela\u00e7\u00e3o C\u00edvel n\u00ba 1031861-80.2020.8.26.0100. Relator Cesar Ciampolini, 1\u00aa C\u00e2mara Reservada de Direito Empresarial, julgado em 30 de jun. 2021 e publicado no DJe em 7 de jul. 2021)<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fa2180c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fa2180c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-9bbe1c7\" data-id=\"9bbe1c7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ee5a579 elementor-widget elementor-widget-heading\" data-id=\"ee5a579\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">A Newsletter Moreira Menezes, Martins Advogados \u00e9 uma publica\u00e7\u00e3o exclusivamente informativa, n\u00e3o devendo ser considerada, para quaisquer fins, como opini\u00e3o legal, sugest\u00e3o ou orienta\u00e7\u00e3o emitida pelo Escrit\u00f3rio.<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-66734bdc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"66734bdc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-168c5e9d\" data-id=\"168c5e9d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2c8f4dd7 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"2c8f4dd7\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-square-full\" viewbox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M512 512H0V0h512v512z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">latest news<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d516374 elementor-widget elementor-widget-spacer\" data-id=\"5d516374\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Newsletter n\u00ba 82 | Julho 2021 Download PDF Nesta edi\u00e7\u00e3o: CVM orienta administradores de fundos de investimento sobre novo sistema de gest\u00e3o de fundos Em 22.06.2021, a Superintend\u00eancia de Rela\u00e7\u00f5es com Investidores Institucionais \u2013 SIN da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM divulgou o Of\u00edcio Circular n\u00ba 06\/2021\/CVM\/SIN (\u201cOf\u00edcio\u201d), por meio do qual a CVM [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,22],"tags":[],"class_list":["post-3548","post","type-post","status-publish","format-standard","hentry","category-newsletter","category-newsletter-mmm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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