{"id":5366,"date":"2023-06-26T17:27:30","date_gmt":"2023-06-26T17:27:30","guid":{"rendered":"https:\/\/moreiramenezes.com.br\/?p=5366"},"modified":"2023-06-26T18:46:08","modified_gmt":"2023-06-26T18:46:08","slug":"newsletter-n105","status":"publish","type":"post","link":"https:\/\/moreiramenezes.com.br\/en\/newsletter-n105\/","title":{"rendered":"Newsletter N\u00b0105"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"5366\" class=\"elementor elementor-5366\" 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 elementor-top-column elementor-element elementor-element-3ab6797a\" data-id=\"3ab6797a\" 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-3e9eebc1 elementor-widget elementor-widget-template\" data-id=\"3e9eebc1\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"header\" data-elementor-id=\"16\" class=\"elementor elementor-16\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8b07cae elementor-section-content-middle elementor-section-full_width elementor-section-height-min-height elementor-section-height-default elementor-section-items-middle\" data-id=\"8b07cae\" data-element_type=\"section\" id=\"topo\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;],&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\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-50 elementor-top-column elementor-element elementor-element-9efaada\" data-id=\"9efaada\" 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-41f2eca elementor-widget elementor-widget-image\" data-id=\"41f2eca\" 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\t<a href=\"https:\/\/moreiramenezes.com.br\/en\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/logo-branco-1.svg\" class=\"attachment-large size-large wp-image-174\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\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-top-column elementor-element elementor-element-82d0d6b\" data-id=\"82d0d6b\" 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-b9d6616 elementor-view-stacked elementor-shape-square elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-icon\" data-id=\"b9d6616\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"#elementor-action%3Aaction%3Dpopup%3Aopen%26settings%3DeyJpZCI6IjE4OTQiLCJ0b2dnbGUiOmZhbHNlfQ%3D%3D\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-bars\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M16 132h416c8.837 0 16-7.163 16-16V76c0-8.837-7.163-16-16-16H16C7.163 60 0 67.163 0 76v40c0 8.837 7.163 16 16 16zm0 160h416c8.837 0 16-7.163 16-16v-40c0-8.837-7.163-16-16-16H16c-8.837 0-16 7.163-16 16v40c0 8.837 7.163 16 16 16zm0 160h416c8.837 0 16-7.163 16-16v-40c0-8.837-7.163-16-16-16H16c-8.837 0-16 7.163-16 16v40c0 8.837 7.163 16 16 16z\"><\/path><\/svg>\t\t\t<\/a>\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-b06390e elementor-nav-menu__align-end elementor-hidden-mobile elementor-widget__width-auto elementor-nav-menu--dropdown-tablet elementor-nav-menu__text-align-aside elementor-nav-menu--toggle elementor-nav-menu--burger elementor-widget elementor-widget-nav-menu\" data-id=\"b06390e\" data-element_type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;horizontal&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;svg class=\\&quot;e-font-icon-svg e-fas-caret-down\\&quot; viewBox=\\&quot;0 0 320 512\\&quot; xmlns=\\&quot;http:\\\/\\\/www.w3.org\\\/2000\\\/svg\\&quot;&gt;&lt;path d=\\&quot;M31.3 192h257.3c17.8 0 26.7 21.5 14.1 34.1L174.1 354.8c-7.8 7.8-20.5 7.8-28.3 0L17.2 226.1C4.6 213.5 13.5 192 31.3 192z\\&quot;&gt;&lt;\\\/path&gt;&lt;\\\/svg&gt;&quot;,&quot;library&quot;:&quot;fa-solid&quot;},&quot;toggle&quot;:&quot;burger&quot;}\" data-no-translation=\"\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>.elementor-element-b06390e{display:none !important}<\/style>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7ba297 elementor-nav-menu__align-end elementor-hidden-mobile elementor-widget__width-auto elementor-nav-menu--dropdown-tablet elementor-nav-menu__text-align-aside elementor-nav-menu--toggle elementor-nav-menu--burger elementor-widget elementor-widget-nav-menu\" data-id=\"f7ba297\" data-element_type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;horizontal&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;svg class=\\&quot;e-font-icon-svg e-fas-caret-down\\&quot; viewBox=\\&quot;0 0 320 512\\&quot; xmlns=\\&quot;http:\\\/\\\/www.w3.org\\\/2000\\\/svg\\&quot;&gt;&lt;path d=\\&quot;M31.3 192h257.3c17.8 0 26.7 21.5 14.1 34.1L174.1 354.8c-7.8 7.8-20.5 7.8-28.3 0L17.2 226.1C4.6 213.5 13.5 192 31.3 192z\\&quot;&gt;&lt;\\\/path&gt;&lt;\\\/svg&gt;&quot;,&quot;library&quot;:&quot;fa-solid&quot;},&quot;toggle&quot;:&quot;burger&quot;}\" data-no-translation=\"\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<nav aria-label=\"Menu\" class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-horizontal e--pointer-underline e--animation-fade\">\n\t\t\t\t<ul id=\"menu-1-f7ba297\" class=\"elementor-nav-menu\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2723\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/quem-somos\/\" class=\"elementor-item\">About<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2718\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/advocacia-de-negocios\/\" class=\"elementor-item\">Business Law<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2719\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/areas-de-atuacao\/\" class=\"elementor-item\">Practice areas<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-7186\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/equipe\/\" class=\"elementor-item\">Team<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2722\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/publicacoes\/\" class=\"elementor-item\">Publications<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2720\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/contato\/\" class=\"elementor-item\">Contact<\/a><\/li>\n<li class=\"trp-language-switcher-container menu-item menu-item-type-post_type menu-item-object-language_switcher current-language-menu-item menu-item-2724\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/posts\/5366\" class=\"elementor-item elementor-item-anchor\"><span data-no-translation><span class=\"trp-ls-language-name\">PT<\/span><\/span><\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t<div class=\"elementor-menu-toggle\" role=\"button\" tabindex=\"0\" aria-label=\"Menu Toggle\" aria-expanded=\"false\">\n\t\t\t<svg aria-hidden=\"true\" role=\"presentation\" class=\"elementor-menu-toggle__icon--open e-font-icon-svg e-eicon-menu-bar\" viewbox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M104 333H896C929 333 958 304 958 271S929 208 896 208H104C71 208 42 237 42 271S71 333 104 333ZM104 583H896C929 583 958 554 958 521S929 458 896 458H104C71 458 42 487 42 521S71 583 104 583ZM104 833H896C929 833 958 804 958 771S929 708 896 708H104C71 708 42 737 42 771S71 833 104 833Z\"><\/path><\/svg><svg aria-hidden=\"true\" role=\"presentation\" class=\"elementor-menu-toggle__icon--close e-font-icon-svg e-eicon-close\" viewbox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M742 167L500 408 258 167C246 154 233 150 217 150 196 150 179 158 167 167 154 179 150 196 150 212 150 229 154 242 171 254L408 500 167 742C138 771 138 800 167 829 196 858 225 858 254 829L496 587 738 829C750 842 767 846 783 846 800 846 817 842 829 829 842 817 846 804 846 783 846 767 842 750 829 737L588 500 833 258C863 229 863 200 833 171 804 137 775 137 742 167Z\"><\/path><\/svg>\t\t\t<span class=\"elementor-screen-only\">Menu<\/span>\n\t\t<\/div>\n\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-f7ba297\" class=\"elementor-nav-menu\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2723\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/quem-somos\/\" class=\"elementor-item\" tabindex=\"-1\">About<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2718\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/advocacia-de-negocios\/\" class=\"elementor-item\" tabindex=\"-1\">Business Law<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2719\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/areas-de-atuacao\/\" class=\"elementor-item\" tabindex=\"-1\">Practice areas<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-7186\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/equipe\/\" class=\"elementor-item\" tabindex=\"-1\">Team<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2722\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/publicacoes\/\" class=\"elementor-item\" tabindex=\"-1\">Publications<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2720\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/contato\/\" class=\"elementor-item\" tabindex=\"-1\">Contact<\/a><\/li>\n<li class=\"trp-language-switcher-container menu-item menu-item-type-post_type menu-item-object-language_switcher current-language-menu-item menu-item-2724\"><a href=\"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/posts\/5366\" class=\"elementor-item elementor-item-anchor\" tabindex=\"-1\"><span data-no-translation><span class=\"trp-ls-language-name\">PT<\/span><\/span><\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fbb192d elementor-search-form--skin-full_screen elementor-widget__width-auto elementor-hidden-phone elementor-widget elementor-widget-search-form\" data-id=\"fbb192d\" data-element_type=\"widget\" data-settings=\"{&quot;skin&quot;:&quot;full_screen&quot;}\" data-widget_type=\"search-form.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<search role=\"search\">\n\t\t\t<form class=\"elementor-search-form\" action=\"https:\/\/moreiramenezes.com.br\/en\/\" method=\"get\" data-trp-original-action=\"https:\/\/moreiramenezes.com.br\/en\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-search-form__toggle\" tabindex=\"0\" role=\"button\">\n\t\t\t\t\t<div class=\"e-font-icon-svg-container\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-search\" viewbox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M505 442.7L405.3 343c-4.5-4.5-10.6-7-17-7H372c27.6-35.3 44-79.7 44-128C416 93.1 322.9 0 208 0S0 93.1 0 208s93.1 208 208 208c48.3 0 92.7-16.4 128-44v16.3c0 6.4 2.5 12.5 7 17l99.7 99.7c9.4 9.4 24.6 9.4 33.9 0l28.3-28.3c9.4-9.4 9.4-24.6.1-34zM208 336c-70.7 0-128-57.2-128-128 0-70.7 57.2-128 128-128 70.7 0 128 57.2 128 128 0 70.7-57.2 128-128 128z\"><\/path><\/svg><\/div>\t\t\t\t\t<span class=\"elementor-screen-only\">Search<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-search-form__container\">\n\t\t\t\t\t<label class=\"elementor-screen-only\" for=\"elementor-search-form-fbb192d\">Search<\/label>\n\n\t\t\t\t\t\n\t\t\t\t\t<input id=\"elementor-search-form-fbb192d\" placeholder=\"O que voc\u00ea procura?\" class=\"elementor-search-form__input\" type=\"search\" name=\"s\" value=\"\">\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<div class=\"dialog-lightbox-close-button dialog-close-button\" role=\"button\" tabindex=\"0\">\n\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-eicon-close\" viewbox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M742 167L500 408 258 167C246 154 233 150 217 150 196 150 179 158 167 167 154 179 150 196 150 212 150 229 154 242 171 254L408 500 167 742C138 771 138 800 167 829 196 858 225 858 254 829L496 587 738 829C750 842 767 846 783 846 800 846 817 842 829 829 842 817 846 804 846 783 846 767 842 750 829 737L588 500 833 258C863 229 863 200 833 171 804 137 775 137 742 167Z\"><\/path><\/svg>\t\t\t\t\t\t<span class=\"elementor-screen-only\">Close this search box.<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n\t\t<\/search>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b48d99c e-grid-align-right elementor-widget__width-auto elementor-hidden-phone elementor-shape-rounded elementor-grid-0 elementor-widget elementor-widget-social-icons\" data-id=\"b48d99c\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook-f elementor-repeater-item-63028e9\" href=\"https:\/\/www.facebook.com\/moreiramenezesadvogados\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook-f<\/span>\n\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-facebook-f\" viewbox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M279.14 288l14.22-92.66h-88.91v-60.13c0-25.35 12.42-50.06 52.24-50.06h40.42V6.26S260.43 0 225.36 0c-73.22 0-121.08 44.38-121.08 124.72v70.62H22.89V288h81.39v224h100.17V288z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin-in elementor-repeater-item-bfbf4e8\" href=\"https:\/\/www.linkedin.com\/company\/moreira-menezes-martins-advogados\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin-in<\/span>\n\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-linkedin-in\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M100.28 448H7.4V148.9h92.88zM53.79 108.1C24.09 108.1 0 83.5 0 53.8a53.79 53.79 0 0 1 107.58 0c0 29.7-24.1 54.3-53.79 54.3zM447.9 448h-92.68V302.4c0-34.7-.7-79.2-48.29-79.2-48.29 0-55.69 37.7-55.69 76.7V448h-92.78V148.9h89.08v40.8h1.3c12.4-23.5 42.69-48.3 87.88-48.3 94 0 111.28 61.9 111.28 142.3V448z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-repeater-item-eded40c\" href=\"https:\/\/www.instagram.com\/moreiramenezesadv\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-instagram\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.1 141c-63.6 0-114.9 51.3-114.9 114.9s51.3 114.9 114.9 114.9S339 319.5 339 255.9 287.7 141 224.1 141zm0 189.6c-41.1 0-74.7-33.5-74.7-74.7s33.5-74.7 74.7-74.7 74.7 33.5 74.7 74.7-33.6 74.7-74.7 74.7zm146.4-194.3c0 14.9-12 26.8-26.8 26.8-14.9 0-26.8-12-26.8-26.8s12-26.8 26.8-26.8 26.8 12 26.8 26.8zm76.1 27.2c-1.7-35.9-9.9-67.7-36.2-93.9-26.2-26.2-58-34.4-93.9-36.2-37-2.1-147.9-2.1-184.9 0-35.8 1.7-67.6 9.9-93.9 36.1s-34.4 58-36.2 93.9c-2.1 37-2.1 147.9 0 184.9 1.7 35.9 9.9 67.7 36.2 93.9s58 34.4 93.9 36.2c37 2.1 147.9 2.1 184.9 0 35.9-1.7 67.7-9.9 93.9-36.2 26.2-26.2 34.4-58 36.2-93.9 2.1-37 2.1-147.8 0-184.8zM398.8 388c-7.8 19.6-22.9 34.7-42.6 42.6-29.5 11.7-99.5 9-132.1 9s-102.7 2.6-132.1-9c-19.6-7.8-34.7-22.9-42.6-42.6-11.7-29.5-9-99.5-9-132.1s-2.6-102.7 9-132.1c7.8-19.6 22.9-34.7 42.6-42.6 29.5-11.7 99.5-9 132.1-9s102.7-2.6 132.1 9c19.6 7.8 34.7 22.9 42.6 42.6 11.7 29.5 9 99.5 9 132.1s2.7 102.7-9 132.1z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\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>\n\t\t\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-top-section elementor-element elementor-element-153818ca elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"153818ca\" 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-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 105 | Junho 2023<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3787e589 elementor-align-right elementor-mobile-align-left elementor-widget elementor-widget-button\" data-id=\"3787e589\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2023\/06\/2023_06_23-Newsletter-Moreira-Menezes-Martins-Advogados-no-105-vf.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-file-pdf\" viewbox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M369.9 97.9L286 14C277 5 264.8-.1 252.1-.1H48C21.5 0 0 21.5 0 48v416c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V131.9c0-12.7-5.1-25-14.1-34zM332.1 128H256V51.9l76.1 76.1zM48 464V48h160v104c0 13.3 10.7 24 24 24h104v288H48zm250.2-143.7c-12.2-12-47-8.7-64.4-6.5-17.2-10.5-28.7-25-36.8-46.3 3.9-16.1 10.1-40.6 5.4-56-4.2-26.2-37.8-23.6-42.6-5.9-4.4 16.1-.4 38.5 7 67.1-10 23.9-24.9 56-35.4 74.4-20 10.3-47 26.2-51 46.2-3.3 15.8 26 55.2 76.1-31.2 22.4-7.4 46.8-16.5 68.4-20.1 18.9 10.2 41 17 55.8 17 25.5 0 28-28.2 17.5-38.7zm-198.1 77.8c5.1-13.7 24.5-29.5 30.4-35-19 30.3-30.4 35.7-30.4 35zm81.6-190.6c7.4 0 6.7 32.1 1.8 40.8-4.4-13.9-4.3-40.8-1.8-40.8zm-24.4 136.6c9.7-16.9 18-37 24.7-54.7 8.3 15.1 18.9 27.2 30.1 35.5-20.8 4.3-38.9 13.1-54.8 19.2zm131.6-5s-5 6-37.3-7.8c35.1-2.6 40.9 5.4 37.3 7.8z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download PDF<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\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\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-a9c628b elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a9c628b\" 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-top-column elementor-element elementor-element-41f4e8e8\" data-id=\"41f4e8e8\" 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-16fc3289 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"16fc3289\" 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-27b4df68\" data-id=\"27b4df68\" 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-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-f4591e0 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"f4591e0\" data-element_type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h4&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;marker_view&quot;:&quot;bullets&quot;,&quot;icon&quot;:{&quot;value&quot;:&quot;fas fa-square-full&quot;,&quot;library&quot;:&quot;fa-solid&quot;,&quot;rendered_tag&quot;:&quot;&lt;svg class=\\&quot;e-font-icon-svg e-fas-square-full\\&quot; viewBox=\\&quot;0 0 512 512\\&quot; xmlns=\\&quot;http:\\\/\\\/www.w3.org\\\/2000\\\/svg\\&quot;&gt;&lt;path d=\\&quot;M512 512H0V0h512v512z\\&quot;&gt;&lt;\\\/path&gt;&lt;\\\/svg&gt;&quot;},&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tIn this 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-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\">Publicado Decreto que atribui compet\u00eancia ao Banco Central para regular os prestadores de servi\u00e7os de ativos virtuais<\/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 14.06.2023 foi publicado o Decreto n\u00ba 11.563\/2023 que atribui compet\u00eancia ao Banco Central do Brasil \u2013 BACEN para regular dos prestadores de servi\u00e7os de ativos virtuais a que se refere a Lei n\u00ba 14.478\/2022.\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 );\">Nesse contexto, o BACEN passou a ter compet\u00eancia para regular a presta\u00e7\u00e3o de servi\u00e7os de ativos virtuais, inclusive conceder e cancelar autoriza\u00e7\u00f5es de funcionamento e de eventuais opera\u00e7\u00f5es societ\u00e1rias nas prestadoras de servi\u00e7os de ativos virtuais, impor condi\u00e7\u00f5es para o exerc\u00edcio de cargos nas referidas sociedades, supervisionar atividades, aplicar penalidades, dentre outras atribui\u00e7\u00f5es.\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 );\">Destaca-se que o Decreto n\u00ba 11.563\/2023 n\u00e3o alterou a compet\u00eancia da Comiss\u00e3o de Valores Mobili\u00e1rios no que se refere \u00e0 regulamenta\u00e7\u00e3o e supervis\u00e3o de ativos virtuais enquadrados como \u201cvalores mobili\u00e1rios\u201d nos termos da Lei n\u00ba 6.385\/1976.\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 );\">O Decreto n\u00ba 11.563\/2023 entrou em vigor em 20.06.2023.\u00a0\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 a \u00edntegra do Decreto n\u00ba 11.563\/2023, podem ser encontradas no portal \u201cPlanalto\u201d do site do Governo Federal (www.gov.br\/planalto).\u00a0<\/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-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\">CVM edita novas normas sobre <i>Brazilian Depositary Receipts<\/i> (BDR)<\/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 11.05.2023 a Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM divulgou as Resolu\u00e7\u00f5es CVM n\u00ba 182\/2023 e n\u00ba 183\/2023, que disp\u00f5em sobre os programas de <i>Brazilian Depositary Receipts <\/i>\u2013 BDR.\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 Resolu\u00e7\u00e3o CVM n\u00ba 182\/2023, que revogou a Instru\u00e7\u00e3o CVM n\u00ba 332\/2000, disciplina aspectos ligados ao lastro dos BDR, suas caracter\u00edsticas e classifica\u00e7\u00f5es em tr\u00eas diferentes n\u00edveis (N\u00edvel I, II e III) e elenca os requisitos necess\u00e1rios para registro desses programas na CVM. A Resolu\u00e7\u00e3o CVM n\u00ba 183\/2023, por sua vez, promove altera\u00e7\u00f5es complementares nas Resolu\u00e7\u00f5es CVM n\u00ba 80\/2022 e n\u00ba 160\/2022 sobre temas relacionados ao registro de emissores estrangeiros para os programas de BDR N\u00edveis II e III.\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 );\">As minutas que deram origem \u00e0s Resolu\u00e7\u00f5es CVM n\u00ba 182\/2023 e n\u00ba 183\/2023 foram submetidas \u00e0 Audi\u00eancia P\u00fablica SDM n\u00ba 03\/2021, conforme noticiado por meio da Newsletter Moreira Menezes, Martins Advogados n\u00ba 81 (junho de 2021).\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 );\"><u>Altera\u00e7\u00f5es relevantes implementadas por meio da Resolu\u00e7\u00e3o CVM n\u00ba 182\/2023<\/u>\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 );\">No \u00e2mbito da Audi\u00eancia P\u00fablica SDM n\u00ba 03\/2021, uma das principais altera\u00e7\u00f5es no regime jur\u00eddico existente proposta consistia na modifica\u00e7\u00e3o do conceito de \u201ccompanhia aberta ou assemelhada\u201d, caracter\u00edstica exigida para que um emissor estrangeiro possa ter valores mobili\u00e1rios de sua emiss\u00e3o utilizados como lastro de BDR.\u00a0\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 );\">Pela proposta contida na minuta de ato normativo, passaria a ser considerado emissor estrangeiro pass\u00edvel de emitir valores mobili\u00e1rios que sirvam de lastro para BDR aquele que tivesse os seguintes atributos: (i) personalidade jur\u00eddica pr\u00f3pria; (ii) responsabilidade de seus acionistas limitada ao pre\u00e7o de emiss\u00e3o das a\u00e7\u00f5es subscritas ou adquiridas; (iii) admiss\u00e3o das a\u00e7\u00f5es emitidas em mercado organizado de valores mobili\u00e1rios; (iv) manuten\u00e7\u00e3o de registro junto a um supervisor local que tamb\u00e9m seja respons\u00e1vel por supervision\u00e1-lo; (v) administra\u00e7\u00e3o delegada, tendo como inst\u00e2ncia m\u00e1xima um \u00f3rg\u00e3o colegiado; e (vi) direito de acionistas a voto e a dividendos, admitidas limita\u00e7\u00f5es a algumas esp\u00e9cies e classes de a\u00e7\u00f5es.\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 );\">Embora participantes da audi\u00eancia p\u00fablica tenham sugerido alterar a reda\u00e7\u00e3o proposta para manter o conceito de \u201ccompanhia aberta ou assemelhada\u201d da Instru\u00e7\u00e3o CVM n\u00ba 332\/2000, tais sugest\u00f5es n\u00e3o foram acolhidas pela CVM, de modo que o conceito de emissor estrangeiro para fins de lastro de BDR passou a ser o proposto na minuta. Segundo consignado no Relat\u00f3rio da Audi\u00eancia P\u00fablica SDM n\u00ba 03\/2021, a CVM buscou trazer maior previsibilidade e seguran\u00e7a jur\u00eddica para emissores ao definir o conceito de entidade \u201cassemelhada\u201d com a especifica\u00e7\u00e3o dos elementos objetivos elencados nas al\u00edneas do dispositivo.\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 );\">Adicionalmente, a Resolu\u00e7\u00e3o CVM n\u00ba 182\/2023 atribuiu \u00e0 entidade deposit\u00e1ria o \u00f4nus de demonstrar fundamentadamente que os supervisores locais do emissor e do mercado em que seus valores mobili\u00e1rios s\u00e3o admitidos \u00e0 negocia\u00e7\u00e3o possuem compet\u00eancia para obter e repassar \u00e0 CVM as informa\u00e7\u00f5es abrangidas pelo memorando multilateral de entendimento da Organiza\u00e7\u00e3o Internacional das Comiss\u00f5es de Valores \u2013 OICV\/IOSCO ou eventual outro acordo celebrado com a CVM.\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 );\">A minuta de ato normativo submetida \u00e0 Audi\u00eancia P\u00fablica SDM n\u00ba 03\/2021 mantinha a estrutura de tr\u00eas n\u00edveis de programas de BDR, com determinadas adapta\u00e7\u00f5es (BDRs N\u00edveis I, II e III), admitindo-se a convers\u00e3o de n\u00edveis de um programa para outro (sempre \u201cpara cima\u201d, conforme destacado no Edital).\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 );\">Nesse contexto, a CVM havia inicialmente proposto que o N\u00edvel I patrocinado e o N\u00edvel II voltassem a ser apenas formas de o emissor de BDR estabelecer presen\u00e7a no mercado brasileiro, mas n\u00e3o uma forma de capta\u00e7\u00e3o de recursos. A finalidade de obten\u00e7\u00e3o de recursos por meio de acesso \u00e0 poupan\u00e7a popular seria atendida pelo N\u00edvel III, que permitiria a realiza\u00e7\u00e3o de ofertas p\u00fablicas de distribui\u00e7\u00e3o (sendo a primeira delas uma oferta necessariamente registrada junto \u00e0 CVM, podendo as demais adotar o regime de esfor\u00e7os restritos).\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 );\">Contudo, ap\u00f3s an\u00e1lise de sugest\u00f5es dos participantes do mercado na Audi\u00eancia P\u00fablica SDM n\u00ba 03\/2021, a possibilidade de realiza\u00e7\u00e3o de ofertas p\u00fablicas de distribui\u00e7\u00e3o somente pelo N\u00edvel III foi reconsiderada pela CVM, de modo que a reda\u00e7\u00e3o do dispositivo foi alterada para autorizar a oferta p\u00fablica de BDR N\u00edveis I (patrocinado) e II, exclusivamente para investidores profissionais.\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 );\"><u>Altera\u00e7\u00f5es relevantes implementadas por meio da Resolu\u00e7\u00e3o CVM n\u00ba 183\/2023<\/u>\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 de ato normativo submetido a audi\u00eancia contemplou a altera\u00e7\u00e3o das regras para obten\u00e7\u00e3o de registro de emissor estrangeiro. Na vig\u00eancia da Instru\u00e7\u00e3o CVM n\u00ba 332\/2000, tais regras eram relacionadas a crit\u00e9rios de localiza\u00e7\u00e3o de ativos e de origem de receitas dos emissores (o que, no entendimento da CVM, poderia levar a resultados arbitr\u00e1rios e indesej\u00e1veis).\u00a0\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 );\">Nesse cen\u00e1rio, a CVM prop\u00f4s que a possibilidade de obten\u00e7\u00e3o de registro de emissor estrangeiro passaria a decorrer de tr\u00eas poss\u00edveis vias: (i) ter como principal mercado de negocia\u00e7\u00f5es um \u201cmercado reconhecido\u201d; (ii) ter o emissor mantido ininterruptamente 25% ou mais de suas a\u00e7\u00f5es em circula\u00e7\u00e3o e um volume financeiro m\u00e9dio di\u00e1rio igual ou superior a R$ 25.000.000,00, ao menos nos 18 meses anteriores ao pedido de registro; ou (iii) estar o emissor sediado em pa\u00edses cujo supervisor local tenha celebrado com a CVM acordo bilateral espec\u00edfico para os fins de negocia\u00e7\u00e3o de BDRs, voltado \u00e0 coopera\u00e7\u00e3o, troca de informa\u00e7\u00f5es e aumento de efetividade das medidas de fiscaliza\u00e7\u00e3o e supervis\u00e3o.\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 );\">Ap\u00f3s a Audi\u00eancia P\u00fablica SDM n\u00ba 03\/2021, a Autarquia flexibilizou as exig\u00eancias do item \u2018(ii)\u2019 mencionado acima de modo que, em tal hip\u00f3tese, o emissor dever\u00e1 ter mantido ininterruptamente 10% ou mais de suas a\u00e7\u00f5es em circula\u00e7\u00e3o e um volume financeiro m\u00e9dio di\u00e1rio igual ou superior a R$ 10.000.000,00, ao menos nos 18 meses anteriores ao pedido de registro de emissor estrangeiro.\u00a0\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 fim, altera\u00e7\u00e3o relevante implementada pelas Resolu\u00e7\u00f5es CVM n\u00ba 182\/2023 e n\u00ba 183\/2023 diz respeito \u00e0 presta\u00e7\u00e3o de informa\u00e7\u00f5es das entidades de investimento enquadradas no conceito de emissor estrangeiro.\u00a0\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 );\">De acordo com as novas normas, tais entidades passar\u00e3o a ter que prestar informa\u00e7\u00f5es sobre: (i) taxas cobradas para remunera\u00e7\u00e3o de prestadores de servi\u00e7o de administra\u00e7\u00e3o e gest\u00e3o; (ii) rela\u00e7\u00e3o de encargos que podem ser imputados ao emissor e seu limite m\u00e1ximo global por exerc\u00edcio social; (iii) rela\u00e7\u00e3o de prestadores de servi\u00e7os de gest\u00e3o, avalia\u00e7\u00e3o, consultoria, tesouraria, controle e processamento de ativos, escritura\u00e7\u00e3o, cust\u00f3dia e formador de mercado; (iv) relat\u00f3rio com justificativas para altera\u00e7\u00f5es no valor justo dos investimentos que impactem materialmente o patrim\u00f4nio l\u00edquido do emissor; e (iv) composi\u00e7\u00e3o da carteira, discriminando quantidade e esp\u00e9cie de t\u00edtulos e valores mobili\u00e1rios que a integram.\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 );\">As Resolu\u00e7\u00f5es CVM n\u00ba 182\/2023 e n\u00ba 183\/2023 entraram em vigor em 01.06.2023.\u00a0\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 a \u00edntegra das Resolu\u00e7\u00f5es, podem ser encontradas no site da CVM (www.gov.br\/cvm).\u00a0<\/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-6550a1a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6550a1a\" 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-abf9456 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"abf9456\" 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-53aa36c\" data-id=\"53aa36c\" 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-1e9829c elementor-widget elementor-widget-heading\" data-id=\"1e9829c\" 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 implementa Sistema de Intima\u00e7\u00e3o Eletr\u00f4nica de Multas Cominat\u00f3rias<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11d38eb elementor-widget elementor-widget-text-editor\" data-id=\"11d38eb\" 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 26.05.2023 a Superintend\u00eancia de Supervis\u00e3o de Investidores Institucionais \u2013 SIN da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM divulgou o Of\u00edcio Circular CVM\/SIN n\u00ba 3\/2023 (\u201c<u>Of\u00edcio Circular SIN n\u00ba 3<\/u>\u201d), por meio do qual a CVM divulgou a implementa\u00e7\u00e3o de novo Sistema de Intima\u00e7\u00e3o Eletr\u00f4nica de Multas Cominat\u00f3rias \u2013 SIEM.\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 consignado no Of\u00edcio Circular SIN n\u00ba 3, o objetivo do SIEM \u00e9 aprimorar o fluxo de envio e recebimento dos of\u00edcios de aplica\u00e7\u00e3o de multas cominat\u00f3rias aplicadas pela CVM aos administradores de fundos de investimento em virtude do n\u00e3o atendimento dos prazos para entrega de informa\u00e7\u00f5es peri\u00f3dicas.\u00a0\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 );\">Nesse sentido, o SIEM permite que a intima\u00e7\u00e3o sobre a aplica\u00e7\u00e3o dessas multas seja disponibilizada imediatamente ao administrador do fundo ap\u00f3s a sua emiss\u00e3o pela CVM, al\u00e9m de viabilizar o recebimento e processamento de tais multas por pessoa previamente indicada \u00e0 CVM como respons\u00e1vel pelo seu tratamento no \u00e2mbito da referida institui\u00e7\u00e3o.\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 );\">Dessa maneira, as pessoas cadastradas no SIEM receber\u00e3o intima\u00e7\u00e3o eletr\u00f4nica autom\u00e1tica em seus respectivos e-mails quando o atraso na entrega de informa\u00e7\u00f5es peri\u00f3dicas previstas na Instru\u00e7\u00e3o CVM n\u00ba 555\/2014 ensejar a aplica\u00e7\u00e3o de multa cominat\u00f3ria.\u00a0\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 );\">O SIEM registrar\u00e1 a data de leitura das intima\u00e7\u00f5es enviadas e manter\u00e1 essa informa\u00e7\u00e3o arquivada para posterior consulta, ficando dispon\u00edvel ao usu\u00e1rio do sistema por prazo indeterminado. Essa data ser\u00e1 considerada como o termo inicial da contagem de prazo do recurso contra a aplica\u00e7\u00e3o de multa cominat\u00f3ria previsto no art. 11, \u00a72\u00ba, da Lei n\u00ba 6.385\/1976.\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 fim, a SIN ressaltou que o sistema serve apenas para tornar o recebimento de multas cominat\u00f3rias mais c\u00e9lere e \u00e1gil por parte das institui\u00e7\u00f5es administradoras de fundos, de forma que n\u00e3o deve ser utilizado para outros fins, como o pagamento ou a interposi\u00e7\u00e3o de recurso (os quais dever\u00e3o seguir com os sistemas atualmente dispon\u00edveis e utilizados pelas institui\u00e7\u00f5es).\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 a \u00edntegra do Of\u00edcio Circular SIN n\u00ba 3, podem ser encontradas no site da CVM (www.gov.br\/cvm).\u00a0<\/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-dafba60 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"dafba60\" 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-2b345e9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2b345e9\" 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-25c32f4\" data-id=\"25c32f4\" 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-73eff0f elementor-widget elementor-widget-heading\" data-id=\"73eff0f\" 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\">\u00c1reas t\u00e9cnicas da CVM orientam acerca de altera\u00e7\u00f5es e novos conceitos introduzidos pelas Resolu\u00e7\u00f5es CVM n\u00ba 80\/2022 e n\u00ba 160\/2022<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba6b7fd elementor-widget elementor-widget-text-editor\" data-id=\"ba6b7fd\" 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 03.05.2023 as Superintend\u00eancias de Rela\u00e7\u00f5es com Empresas \u2013 SEP e de Registro de Valores Mobili\u00e1rios \u2013 SRE da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM publicaram o Of\u00edcio Circular Conjunto CVM\/SEP\/SRE 1\/2023 (\u201c<u>Of\u00edcio Circular Conjunto<\/u>\u201d).\u00a0\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 );\">O Of\u00edcio Circular Conjunto faz refer\u00eancia \u00e0 Resolu\u00e7\u00e3o CVM n\u00ba 80\/2022 (\u201c<u>RCVM n\u00ba 80\/2022<\/u>\u201d) e \u00e0 Resolu\u00e7\u00e3o CVM n\u00ba 160\/2022 (\u201c<u>RCVM n\u00ba 160\/2022<\/u>\u201d), por meio das quais foram implementadas relevantes altera\u00e7\u00f5es aos procedimentos de registros de emissores e de ofertas p\u00fablicas de distribui\u00e7\u00e3o, respectivamente.\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 );\">Nesse sentido, o Of\u00edcio Circular Conjunto esclarece as seguintes mudan\u00e7as decorrentes da entrada em vigor da RCVM n\u00ba 80\/2022 e da RCVM n\u00ba 160\/2022:\u00a0<\/span><\/p><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) a SEP e a SRE dever\u00e3o comunicar aos emissores e aos ofertantes, no prazo de at\u00e9 10 dias contados da data de protocolo, sobre a insufici\u00eancia dos documentos submetidos para obten\u00e7\u00e3o do registro, se for o caso, e quais documentos ou informa\u00e7\u00f5es est\u00e3o faltando. A complementa\u00e7\u00e3o da documenta\u00e7\u00e3o necess\u00e1ria \u00e0 instru\u00e7\u00e3o do pedido de registro se dar\u00e1 no prazo de 10 dias \u00fateis contados da comunica\u00e7\u00e3o a respeito da insufici\u00eancia da documenta\u00e7\u00e3o;\u00a0<\/span><\/p><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) caso, al\u00e9m dos documentos e informa\u00e7\u00f5es apresentados em resposta aos of\u00edcios, tenham sido realizadas altera\u00e7\u00f5es em documentos ou em informa\u00e7\u00f5es que n\u00e3o decorram do cumprimento de exig\u00eancias, a SEP e\/ou a SRE poder\u00e3o apontar a ocorr\u00eancia de fato novo, a depender da relev\u00e2ncia das altera\u00e7\u00f5es;\u00a0<\/span><\/p><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) a ocorr\u00eancia de fato novo deve ser comunicada pela SEP e pela SRE aos requerentes dentro dos prazos previstos na RCVM n\u00ba 80\/2022 e RCVM n\u00ba 160\/2022, acarretando em nova suspens\u00e3o do procedimento de registro, pelo prazo de 20 dias \u00fateis, para fins de an\u00e1lise do fato novo; e\u00a0<\/span><\/p><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 );\">(iv) a qualquer tempo, os emissores e os coordenadores de ofertas p\u00fablicas poder\u00e3o requerer a interrup\u00e7\u00e3o da an\u00e1lise por 60 dias \u00fateis. Ao final desse prazo, caso n\u00e3o haja manifesta\u00e7\u00e3o da requerente pela retomada do procedimento, o pedido de registro ser\u00e1 indeferido. Caso haja manifesta\u00e7\u00e3o pela continuidade dos processos, os pedidos de registros ser\u00e3o considerados reapresentados no primeiro dia \u00fatil subsequente \u00e0 citada manifesta\u00e7\u00e3o, e ser\u00e3o aplicadas todas as etapas processuais e seus respectivos prazos como se novos fossem.\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 );\">A \u00edntegra do Of\u00edcio Circular Conjunto, bem como fluxograma para melhor compreens\u00e3o dos prazos e ritos processuais, pode ser encontrada no site da CVM (www.gov.br\/cvm).\u00a0<\/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-ab7af52 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"ab7af52\" 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-6f74567 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6f74567\" 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-251b9d8\" data-id=\"251b9d8\" 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-63450c5 elementor-widget elementor-widget-heading\" data-id=\"63450c5\" 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\">Of\u00edcio Circular n\u00ba 6 da CVM orienta registro de coordenadores de ofertas p\u00fablicas de distribui\u00e7\u00e3o de valores mobili\u00e1rios<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9647bba elementor-widget elementor-widget-text-editor\" data-id=\"9647bba\" 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 10.05.2023 a Superintend\u00eancia de Registro de Valores Mobili\u00e1rios \u2013 SRE da Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM publicou o Of\u00edcio Circular n\u00ba 06\/2023 (\u201c<u>Of\u00edcio Circular n\u00ba 6<\/u>\u201d), que contempla orienta\u00e7\u00f5es gerais sobre os procedimentos a serem adotados pelas institui\u00e7\u00f5es intermedi\u00e1rias, nos requerimentos de registro como coordenador de ofertas p\u00fablicas de distribui\u00e7\u00e3o de valores mobili\u00e1rios (\u201c<u>Coordenador<\/u>\u201d), de acordo com a Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022.\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 );\">O Of\u00edcio Circular n\u00ba 6 consolida orienta\u00e7\u00f5es prestadas pela CVM anteriormente, bem como introduz novas orienta\u00e7\u00f5es que devem ser seguidas pelas institui\u00e7\u00f5es intermedi\u00e1rias. Tais orienta\u00e7\u00f5es est\u00e3o divididas, ao todo, em 15 t\u00f3picos, valendo destacar a seguir as mais relevantes.\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 );\"><u>Entrega de informa\u00e7\u00f5es peri\u00f3dicas (art. 12 e art. 18 da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022)<\/u>\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 );\">At\u00e9 o dia 31 de mar\u00e7o de cada ano, o Coordenador deve encaminhar \u00e0 CVM, por meio de sistema eletr\u00f4nico dispon\u00edvel no site da CVM, o Formul\u00e1rio de Refer\u00eancia constante do Anexo B da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022.\u00a0\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, o diretor respons\u00e1vel pelo cumprimento de regras, pol\u00edticas, procedimentos e controles internos previstos na Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 deve encaminhar aos \u00f3rg\u00e3os de administra\u00e7\u00e3o do Coordenador, at\u00e9 o \u00faltimo dia \u00fatil do m\u00eas de abril de cada ano, \u201crelat\u00f3rio de compliance\u201d, com conte\u00fado m\u00ednimo estabelecido na norma.\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 );\">Nos termos do Of\u00edcio Circular n\u00ba 6, as referidas informa\u00e7\u00f5es peri\u00f3dicas previstas no Anexo B da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 devem ser prestadas a partir do ano seguinte ao da obten\u00e7\u00e3o de aprova\u00e7\u00e3o do registro do Coordenador perante a CVM, considerando a data de publica\u00e7\u00e3o do ato declarat\u00f3rio no Di\u00e1rio Oficial da Uni\u00e3o. Tais informa\u00e7\u00f5es peri\u00f3dicas dever\u00e3o ser enviadas por meio do sistema eletr\u00f4nico \u201cCVMWeb\u201d.\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 );\"><u>Patrim\u00f4nio l\u00edquido m\u00ednimo<\/u>\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 );\">O Coordenador dever\u00e1 comprovar, no momento do requerimento de registro, que possui patrim\u00f4nio l\u00edquido de, pelo menos, R$ 1 milh\u00e3o, mediante a apresenta\u00e7\u00e3o de demonstra\u00e7\u00f5es financeiras auditadas por auditor independente registrado na CVM. Caso o Coordenador n\u00e3o tenha encerrado seu primeiro exerc\u00edcio social no momento do requerimento, dever\u00e1 disponibilizar demonstra\u00e7\u00e3o financeira intermedi\u00e1ria auditada.\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 );\"><u>Segrega\u00e7\u00e3o de atividades<\/u>\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 );\">O exerc\u00edcio da intermedia\u00e7\u00e3o de ofertas p\u00fablicas de distribui\u00e7\u00e3o de valores mobili\u00e1rios deve ser segregado das demais atividades exercidas pelo Coordenador ou por outras pessoas jur\u00eddicas de seu grupo econ\u00f4mico, com as quais haja potencial conflito de interesses. Nos termos do Of\u00edcio Circular n\u00ba 6, cabe ao Coordenador identificar quais \u00e1reas podem afetar a independ\u00eancia de sua atua\u00e7\u00e3o.\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 );\"><u>Acordos de coopera\u00e7\u00e3o t\u00e9cnica<\/u>\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 );\">A Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 permite que a CVM celebre acordo de coopera\u00e7\u00e3o t\u00e9cnica (\u201c<u>ACT<\/u>\u201d) para an\u00e1lise pr\u00e9via dos requerimentos de registro de Coordenador. Atualmente, est\u00e1 em vigor ACT entre a CVM e a ANBIMA sobre essa mat\u00e9ria. Sobre esse particular, o Of\u00edcio Circular n\u00ba 6 indica que, uma vez finalizada a referida an\u00e1lise pr\u00e9via pela ANBIMA, ser\u00e1 encaminhado relat\u00f3rio t\u00e9cnico \u00e0 SRE que, por sua vez, dever\u00e1 se manifestar a respeito do deferimento ou indeferimento do pedido.\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 );\"><u>Abrang\u00eancia da atua\u00e7\u00e3o como Coordenador registrado<\/u>\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 );\">O registro de que trata a Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 autoriza as institui\u00e7\u00f5es registradas a atuarem exclusivamente como Coordenadoras de ofertas p\u00fablicas de distribui\u00e7\u00e3o de valores mobili\u00e1rios distribu\u00eddas pelos ritos definidos na Resolu\u00e7\u00e3o CVM n\u00ba 160\/2022 (que, por sua vez, disp\u00f5e sobre as ofertas p\u00fablicas de distribui\u00e7\u00e3o prim\u00e1ria ou secund\u00e1ria de valores mobili\u00e1rios e a negocia\u00e7\u00e3o dos valores mobili\u00e1rios ofertados nos mercados regulamentados).\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 );\">Desse modo, a autoriza\u00e7\u00e3o em quest\u00e3o n\u00e3o permite a atua\u00e7\u00e3o como intermedi\u00e1rio em qualquer outra modalidade de distribui\u00e7\u00e3o de valores mobili\u00e1rios, seja de forma prim\u00e1ria ou secund\u00e1ria, realizada em mercado de bolsa de valores, bolsa de mercadorias e futuros, balc\u00e3o organizado ou balc\u00e3o n\u00e3o-organizado.\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 );\"><u>Restri\u00e7\u00f5es de acumula\u00e7\u00e3o de fun\u00e7\u00f5es dos diretores respons\u00e1veis<\/u>\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 );\">Os diretores respons\u00e1veis pela atividade de intermedia\u00e7\u00e3o de ofertas p\u00fablicas e pelo cumprimento de regras, pol\u00edticas, procedimentos e controles internos n\u00e3o podem atuar em fun\u00e7\u00f5es ou atividades que limitem a sua independ\u00eancia, na institui\u00e7\u00e3o ou fora dela. A esse respeito, o Of\u00edcio Circular n\u00ba 6 informa que as atividades que n\u00e3o podem ser cumuladas listadas no art. 4\u00ba, \u00a7 1\u00ba, II, da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 t\u00eam car\u00e1ter exemplificativo.\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 );\">Nesse contexto, o Of\u00edcio Circular n\u00ba 6 ressalva que n\u00e3o \u00e9 necess\u00e1ria a separa\u00e7\u00e3o entre as \u00e1reas de coordena\u00e7\u00e3o de oferta p\u00fablica e de distribui\u00e7\u00e3o de valores mobili\u00e1rios, sendo poss\u00edvel, inclusive, que o diretor respons\u00e1vel pelas atividades objeto da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 seja tamb\u00e9m o respons\u00e1vel pelas atividades objeto da Resolu\u00e7\u00e3o CVM n\u00ba 35\/2021 (que estabelece normas e procedimentos a serem observados na intermedia\u00e7\u00e3o de opera\u00e7\u00f5es realizadas com valores mobili\u00e1rios em mercados regulamentados de valores mobili\u00e1rios).\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 );\">Ainda sobre esse particular, foi consignado no Of\u00edcio Circular n\u00ba 6 que, se o Coordenador exercer atividades de tesouraria ou mesa de opera\u00e7\u00f5es propriet\u00e1ria, os diretores respons\u00e1veis por essas \u00e1reas n\u00e3o poder\u00e3o ser os mesmos respons\u00e1veis pelas atividades da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022.\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 );\"><u>Atua\u00e7\u00e3o da mesma pessoa natural em mais de uma institui\u00e7\u00e3o coordenadora de ofertas p\u00fablicas<\/u>\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 );\">Em princ\u00edpio, n\u00e3o h\u00e1 impedimento para que os diretores respons\u00e1veis pela atividade de intermedia\u00e7\u00e3o de ofertas p\u00fablicas e pelo cumprimento de regras, pol\u00edticas, procedimentos e controles internos previstos na Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 exer\u00e7am as mesmas fun\u00e7\u00f5es em sociedades controladoras, controladas, coligadas ou sob controle comum.\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\u00e9m, haver\u00e1 impedimento na hip\u00f3tese de uma pessoa natural ocupar um dos cargos de diretor previstos na Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 e, ao mesmo tempo, atuar em outra institui\u00e7\u00e3o como diretor respons\u00e1vel por uma das \u00e1reas que acarretem conflito de interesse.\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 );\"><u>Coordenadores que n\u00e3o possuam conselho de administra\u00e7\u00e3o em sua estrutura societ\u00e1ria<\/u>\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 );\">A Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022 prev\u00ea que a atribui\u00e7\u00e3o de responsabilidades, a diretor estatut\u00e1rio, pela intermedia\u00e7\u00e3o de ofertas p\u00fablicas de distribui\u00e7\u00e3o de valores mobili\u00e1rios, bem como pelo cumprimento de regras, pol\u00edticas, procedimentos e controles internos, deve ser consignada no contrato ou estatuto social da pessoa jur\u00eddica, ou ainda em ata de reuni\u00e3o do conselho de administra\u00e7\u00e3o.\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 );\">No que tange \u00e0s sociedades que n\u00e3o possuam conselho de administra\u00e7\u00e3o, foi esclarecido no Of\u00edcio Circular n\u00ba 6 que a atribui\u00e7\u00e3o dessas responsabilidades poder\u00e1 ser realizada nas reuni\u00f5es de diretoria ou de s\u00f3cios, mediante registro em ata e desde que tais documentos estejam registrados perante o \u00f3rg\u00e3o competente.\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 );\"><u>Contrata\u00e7\u00e3o de assessores de investimento<\/u>\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 );\">Podem ser registrados como Coordenadores, al\u00e9m das institui\u00e7\u00f5es financeiras, as demais sociedades que atuem na distribui\u00e7\u00e3o de valores mobili\u00e1rios como agentes da companhia emissora. Contudo, o Of\u00edcio Circular n\u00ba 6 ressalva que essa disposi\u00e7\u00e3o n\u00e3o permite, em hip\u00f3tese alguma, a contrata\u00e7\u00e3o de Assessores de Investimento (\u201cAI\u201d) por tais institui\u00e7\u00f5es.\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 );\">N\u00e3o obstante, ainda de acordo com o Of\u00edcio Circular n\u00ba 6, os AI podem atuar em ofertas p\u00fablicas de valores mobili\u00e1rios coordenadas por Coordenadores de ofertas p\u00fablicas que n\u00e3o sejam institui\u00e7\u00f5es financeiras, desde que contratados por institui\u00e7\u00f5es financeiras participantes do cons\u00f3rcio de distribui\u00e7\u00e3o.\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 );\"><u>Registro autom\u00e1tico de ofertas por Coordenador que n\u00e3o seja institui\u00e7\u00e3o financeira<\/u>\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 meio do Of\u00edcio Circular n\u00ba 6, foi esclarecido que o Coordenador que n\u00e3o seja institui\u00e7\u00e3o financeira poder\u00e1 realizar ofertas p\u00fablicas pelo rito autom\u00e1tico, caso seja participante dos C\u00f3digos de Autorregula\u00e7\u00e3o da ANBIMA que preveem a atividade de coordena\u00e7\u00e3o de ofertas p\u00fablicas. O assunto foi deliberado em reuni\u00e3o do Grupo T\u00e9cnico dos Conv\u00eanios CVM\/ANBIMA \u2013 Ofertas P\u00fablicas realizada em 03.04.2023.\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 do Of\u00edcio Circular n\u00ba 6 e da Resolu\u00e7\u00e3o CVM n\u00ba 161\/2022, podem ser encontradas no site da CVM (www.gov.br\/cvm).\u00a0<\/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-cc306fe elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"cc306fe\" 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-bb1cecd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bb1cecd\" 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-6ee1836\" data-id=\"6ee1836\" 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-20c5ebe elementor-widget elementor-widget-heading\" data-id=\"20c5ebe\" 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 edita Resolu\u00e7\u00e3o CVM n\u00ba 184, que acrescenta anexos ao marco regulat\u00f3rio dos fundos de investimento<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5170c03 elementor-widget elementor-widget-text-editor\" data-id=\"5170c03\" 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 31.05.2023 a Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 CVM editou a Resolu\u00e7\u00e3o CVM n\u00ba 184\/2023, que acrescentou nove Anexos Normativos \u00e0 Resolu\u00e7\u00e3o CVM n\u00ba 175\/2022 (relativa aos fundos de investimento), que passa a conter 11 Anexos Normativos, os quais contemplam regras espec\u00edficas aplic\u00e1veis \u00e0s diferentes categorias de fundos de investimento.\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 );\">Os Anexos Normativos acrescentados pela Resolu\u00e7\u00e3o CVM n\u00ba 184\/2023 s\u00e3o os seguintes\u00a0<\/span><\/p><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) Anexo Normativo III \u2013 Fundos de Investimento Imobili\u00e1rio (FII);\u00a0<\/span><\/p><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) Anexo Normativo IV \u2013 Fundos de Investimento em Participa\u00e7\u00f5es (FIP);\u00a0<\/span><\/p><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) Anexo Normativo V \u2013 Fundos de Investimento em \u00edndice de Mercado (ETF);\u00a0<\/span><\/p><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 );\">(iv) Anexo Normativo VII \u2013 Fundos M\u00fatuos de Privatiza\u00e7\u00e3o (FMP-FGTS);\u00a0<\/span><\/p><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 );\">(v) Anexo Normativo VIII \u2013 Fundos de Investimento na Ind\u00fastria Cinematogr\u00e1fica Nacional (FUNCINE);\u00a0<\/span><\/p><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 );\">(vi) Anexo Normativo IX \u2013 Fundos M\u00fatuos de A\u00e7\u00f5es Incentivadas (FMAI);\u00a0<\/span><\/p><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 );\">(vii) Anexo Normativo X \u2013 Fundos de Investimento Cultural e Art\u00edstico (FICART); ii)<\/span><\/p><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 );\">(viii) Anexo Normativo XI \u2013 Fundos Previdenci\u00e1rios; e\u00a0<\/span><\/p><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 );\">(ix) Anexo Normativo XII \u2013 Fundos de Investimento em Direitos Credit\u00f3rios de Projetos de Interesse Social (FIDC-PIPS).\u00a0\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 );\">A CVM informou que, uma vez que o m\u00e9rito normativo das regras atualmente em vigor n\u00e3o foi alterado, n\u00e3o se fez necess\u00e1ria a realiza\u00e7\u00e3o de An\u00e1lise de Impacto Regulat\u00f3rio ou realiza\u00e7\u00e3o de Audi\u00eancia P\u00fablica.\u00a0\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 );\">A Resolu\u00e7\u00e3o CVM n\u00ba 184\/2023 entra em vigor em 02.10.2023, em conjunto com a Resolu\u00e7\u00e3o CVM n\u00ba 175\/2022.\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 a \u00edntegra da Resolu\u00e7\u00e3o, podem ser encontradas no site da CVM (www.gov.br\/cvm).\u00a0<\/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-35b7ac8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"35b7ac8\" 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-827612c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"827612c\" 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-6f1c8a7\" data-id=\"6f1c8a7\" 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-bdad84a elementor-widget elementor-widget-heading\" data-id=\"bdad84a\" 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\">Conselho de Recursos do Sistema Financeiro Nacional edita 5 novas s\u00famulas<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0108a6 elementor-widget elementor-widget-text-editor\" data-id=\"e0108a6\" 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 15.05.2023 o Conselho de Recursos do Sistema Financeiro Nacional \u2013 CRSFN publicou, no Di\u00e1rio Oficial da Uni\u00e3o, 5 novas s\u00famulas relacionadas \u00e0 prescri\u00e7\u00e3o de processos administrativos e \u00e0 revis\u00e3o de decis\u00f5es proferidas em primeira inst\u00e2ncia no \u00e2mbito do CRSFN.\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 );\">Tais s\u00famulas consolidam entendimentos j\u00e1 pacificados no CRSFN e fixam orienta\u00e7\u00f5es a serem perseguidas pelos \u00f3rg\u00e3os de primeira inst\u00e2ncia, buscando promover uniformiza\u00e7\u00e3o de decis\u00f5es e seguran\u00e7a jur\u00eddica.\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 );\">A \u00edntegra das s\u00famulas se encontra transcrita a seguir:\u00a0<\/span><\/p><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>S\u00famula n\u00ba 2<\/u>: \u201cA proposta de instaura\u00e7\u00e3o de processo sancionador, contendo elementos de autoria e materialidade da infra\u00e7\u00e3o, configura ato inequ\u00edvoco de apura\u00e7\u00e3o do fato apto a interromper o prazo prescricional\u201d;\u00a0<\/span><\/p><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>S\u00famula n\u00ba 3<\/u>: \u201cAs decis\u00f5es proferidas em primeira inst\u00e2ncia administrativa relativas \u00e0 proposta de celebra\u00e7\u00e3o de termo de compromisso possuem natureza discricion\u00e1ria e n\u00e3o comportam revis\u00e3o no \u00e2mbito do CRSFN\u201d;\u00a0<\/span><\/p><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>S\u00famula n\u00ba 4<\/u>: \u201cA interrup\u00e7\u00e3o da prescri\u00e7\u00e3o por ato inequ\u00edvoco de apura\u00e7\u00e3o do fato n\u00e3o depende de bilateralidade ou ci\u00eancia pr\u00e9via do administrado\u201d;\u00a0<\/span><\/p><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 );\">(iv) <u>S\u00famula n\u00ba 5<\/u>: \u201cA distribui\u00e7\u00e3o e a necess\u00e1ria redistribui\u00e7\u00e3o de processos sancionadores para relatoria por integrantes de \u00f3rg\u00e3os colegiados configuram movimenta\u00e7\u00e3o processual essencial para impulsionar o processo rumo ao seu julgamento e descaracterizam o pressuposto de paralisa\u00e7\u00e3o da prescri\u00e7\u00e3o intercorrente\u201d; e\u00a0<\/span><\/p><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 );\">(v) <u>S\u00famula n\u00ba 6<\/u>: \u201cA Medida Provis\u00f3ria n\u00b0 784, de 7 de junho de 2017, n\u00e3o obstante tenha perdido sua efic\u00e1cia em 19 de outubro de 2017, permanece produzindo efeitos em rela\u00e7\u00e3o a fatos ocorridos durante sua vig\u00eancia (CF art. 62, \u00a7\u00a73\u00ba e 11)\u201d.\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 sobre a edi\u00e7\u00e3o das s\u00famulas podem ser encontradas no site do Minist\u00e9rio da Fazenda (www.gov.br\/fazenda).\u00a0<\/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-1d2a3e8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"1d2a3e8\" 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-0e666f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0e666f5\" 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-732819c\" data-id=\"732819c\" 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-40d7fc7 elementor-widget elementor-widget-heading\" data-id=\"40d7fc7\" 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-d50865c elementor-widget elementor-widget-text-editor\" data-id=\"d50865c\" 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>Superior Tribunal de Justi\u00e7a<\/b><\/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 );\">RECURSO ESPECIAL. PROCESSUAL CIVIL. PERSONALIDADE JUR\u00cdDICA. DESCONSIDERA\u00c7\u00c3O. INCIDENTE. RELA\u00c7\u00c3O DE CONSUMO. ART. 28, \u00a7 5\u00ba, DO CDC. TEORIA MENOR. S\u00d3CIO. ATOS DE GEST\u00c3O. PR\u00c1TICA. COMPROVA\u00c7\u00c3O. AUS\u00caNCIA. INAPLICABILIDADE. EMBARGOS DE DECLARA\u00c7\u00c3O. CAR\u00c1TER PROTELAT\u00d3RIO. INEXIST\u00caNCIA. MULTA. AFASTAMENTO.&nbsp;<\/span><br><\/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 );\">1. Para fins de aplica\u00e7\u00e3o da Teoria Menor da desconsidera\u00e7\u00e3o da personalidade jur\u00eddica (art. 28, \u00a7 5\u00ba, do CDC), basta que o consumidor demonstre o estado de insolv\u00eancia do fornecedor e o fato de a personalidade jur\u00eddica representar um obst\u00e1culo ao ressarcimento dos preju\u00edzos causados.&nbsp;<\/span><br><\/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 );\">2. A despeito de n\u00e3o se exigir prova de abuso ou fraude para fins de aplica\u00e7\u00e3o da Teoria Menor da desconsidera\u00e7\u00e3o da personalidade jur\u00eddica, tampouco de confus\u00e3o patrimonial, o \u00a7 5\u00ba do art. 28 do CDC n\u00e3o d\u00e1 margem para admitir a responsabiliza\u00e7\u00e3o pessoal de quem, embora ostentando a condi\u00e7\u00e3o de s\u00f3cio, n\u00e3o desempenha atos de gest\u00e3o, ressalvada a prova de que contribuiu, ao menos culposamente, para a pr\u00e1tica de atos de administra\u00e7\u00e3o.&nbsp;<\/span><br><\/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 );\">3. Na hip\u00f3tese em que os embargos de declara\u00e7\u00e3o objetivam prequestionar a tese para fins de interposi\u00e7\u00e3o de recurso especial, deve ser afastada a multa do art. 538, par\u00e1grafo \u00fanico, do C\u00f3digo de Processo Civil de 1973. S\u00famula n\u00ba 98\/STJ.&nbsp;<\/span><br><\/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 );\">4. Recurso especial provido.&nbsp;<\/span><br><\/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 );\">(STJ. Terceira Turma. Recurso Especial 1.900.843\/DF. Rel.: Ministro Paulo de Tarso Sanseverino. Rel. para ac\u00f3rd\u00e3o: Ministro Ricardo Villas B\u00f4as Cueva. Data de julgamento: 23.05.2023. Data de publica\u00e7\u00e3o: 30.05.2023)&nbsp;<\/span><br><\/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 );\">PROCESSUAL CIVIL. EMBARGOS DE DIVERG\u00caNCIA EM RECURSO ESPECIAL. EXECU\u00c7\u00c3O DE T\u00cdTULO EXTRAJUDICIAL. PENHORA. PERCENTUAL DE VERBA SALARIAL. IMPENHORABILIDADE (ART. 833, IV e \u00a7 2\u00ba, CPC\/2015). RELATIVIZA\u00c7\u00c3O. POSSIBILIDADE. CAR\u00c1TER EXCEPCIONAL.&nbsp;&nbsp;<\/span><br><\/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 );\">1. O CPC de 2015 trata a impenhorabilidade como relativa, podendo ser mitigada \u00e0 luz de um julgamento princ\u00edpio l\u00f3gico, mediante a pondera\u00e7\u00e3o dos princ\u00edpios da menor onerosidade para o devedor e da efetividade da execu\u00e7\u00e3o para o credor, ambos informados pela dignidade da pessoa humana.&nbsp;&nbsp;<\/span><br><\/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 );\">2. Admite-se a relativiza\u00e7\u00e3o da regra da impenhorabilidade das verbas de natureza salarial, independentemente da natureza da d\u00edvida a ser paga e do valor recebido pelo devedor, condicionada, apenas, a que a medida constritiva n\u00e3o comprometa a subsist\u00eancia digna do devedor e de sua fam\u00edlia.&nbsp;&nbsp;<\/span><br><\/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 );\">3. Essa relativiza\u00e7\u00e3o reveste-se de car\u00e1ter excepcional e s\u00f3 deve ser feita quando restarem inviabilizados outros meios execut\u00f3rios que possam garantir a efetividade da execu\u00e7\u00e3o e desde que avaliado concretamente o impacto da constri\u00e7\u00e3o na subsist\u00eancia digna do devedor e de seus familiares.&nbsp;&nbsp;<\/span><br><\/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 );\">4. Ao permitir, como regra geral, a mitiga\u00e7\u00e3o da impenhorabilidade quando o devedor receber valores que excedam a 50 sal\u00e1rios m\u00ednimos, o \u00a7 2\u00ba do art. 833 do CPC n\u00e3o pro\u00edbe que haja pondera\u00e7\u00e3o da regra nas hip\u00f3teses de n\u00e3o excederem (EDcl nos EREsp n. 1.518.169\/DF, relatora Ministra Nancy Andrighi, Corte Especial, DJe de 24.5.2019).&nbsp;&nbsp;<\/span><br><\/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 );\">5. Embargos de diverg\u00eancia conhecidos e providos.&nbsp;<\/span><br><\/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 );\">(STJ. Corte Especial. Embargos de Diverg\u00eancia em Recurso Especial n\u00ba 1.874.222\/DF. Rel.: Min. Jo\u00e3o Ot\u00e1vio de Noronha. Data de julgamento: 19.04.2023. Data de publica\u00e7\u00e3o: 24.05.2023.)&nbsp;<\/span><br><\/p>\n<p><b 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 );\">Tribunal de Justi\u00e7a de S\u00e3o Paulo&nbsp;<\/b><br><\/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\u00e7\u00e3o anulat\u00f3ria de senten\u00e7a arbitral, por alegada absten\u00e7\u00e3o de voto de um dos co\u00e1rbitros que, vencido em senten\u00e7a parcial na fase de conhecimento, deixou de se pronunciar sobre o m\u00e9rito de liquida\u00e7\u00e3o. Senten\u00e7a de improced\u00eancia. Apela\u00e7\u00e3o.&nbsp;<\/span><br><\/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 );\">Levantamento \u201cex officio\u201d de restri\u00e7\u00e3o de publicidade. A regra geral da publicidade dos atos processuais, estabelecida na Constitui\u00e7\u00e3o Federal (art. 5\u00ba, LX, e art. 93, IX), s\u00f3 pode ser afastada excepcionalmente. Por esse motivo, a interpreta\u00e7\u00e3o das hip\u00f3teses em isto se permite (art. 189 do CPC) deve ser restritiva. O segredo que normalmente se imp\u00f5e \u00e0s arbitragens \u00e9 obst\u00e1culo ao prest\u00edgio do Direito Comercial, na medida em que a cultura jur\u00eddica, a Academia, t\u00eam interesse em conhecer o que nelas se passa. As decis\u00f5es arbitrais devem se 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. \u201cA 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.\u201d (ARNALDO ESTEVES DE LIMA). A atividade jurisdicional deve, indubit\u00e1vel e manifestamente, ser vista como realiza\u00e7\u00e3o de Justi\u00e7a (\u201cJustice should not only be done but should manifestly and undoubtedly be seen to be done\u201d Lord HEWART). Doutrina de DIOGO DIAS DA SILVA.&nbsp;<\/span><br><\/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 );\">Absten\u00e7\u00e3o de voto de co\u00e1rbitro. \u201cNon liquet\u201d. Vulnera\u00e7\u00e3o do princ\u00edpio de acesso \u00e0 Justi\u00e7a (art. 5\u00ba, XXXV, da Constitui\u00e7\u00e3o). Presente hip\u00f3tese para a qual a lei prescreve declara\u00e7\u00e3o de nulidade da senten\u00e7a arbitral (art. 32, VIII, c\/c \u00a7 2\u00ba do art. 21 da Lei de Arbitragem). \u201c(&#8230;) a Lei de Arbitragem, no inciso VIII de seu artigo 32, prev\u00ea a nulidade da senten\u00e7a arbitral se n\u00e3o houverem sido respeitados os princ\u00edpios &#8216;do contradit\u00f3rio, da igualdade das partes, da imparcialidade do \u00e1rbitro e de seu livre convencimento&#8217; (art. 21, \u00a7 2\u00ba). Esses princ\u00edpios constituem verdadeiras garantias constitucionais, devendo ser interpretados ampliativamente e de maneira a abranger, de igual modo, aqueles constitucionais, n\u00e3o expressamente referidos pela lei.\u201d (CARLOS ALBERTO SALLES). &#8220;&#8230; o artigo 32 deve ser interpretado como se contivesse um inciso IX que permitisse a anula\u00e7\u00e3o da senten\u00e7a arbitral que tenha ofendido a ordem p\u00fablica nacional (substancial) no sentido que lhe atribua o artigo 39, inciso II, da Lei de Arbitragem.&#8221; (PETER SESTER).&nbsp;<\/span><br><\/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 );\">Inafastabilidade de jurisdi\u00e7\u00e3o que n\u00e3o se limita ao Poder Judici\u00e1rio, pois, quando submetida causa a julgamento por tribunal arbitral, nele deve ser prestada a tutela jurisdicional adequada. \u201c&#8230; o art. 3\u00ba do CPC\/2015, ao referir-se \u00e0 &#8216;aprecia\u00e7\u00e3o jurisdicional&#8217;, deixa claro que n\u00e3o apenas ao Poder Judici\u00e1rio \u00e9 dado exercer a jurisdi\u00e7\u00e3o\u201d (EDUARDO ARRUDA ALVIM). \u201cDa mesma forma que o juiz togado, cabe ao \u00e1rbitro manifestar-se sobre toda a controv\u00e9rsia que lhe seja submetida, n\u00e3o podendo deixar de decidir a respeito de todas as quest\u00f5es que, no seu conjunto, formam o m\u00e9rito do processo arbitral (&#8230;), sendo-lhe vedado entrincheirar-se no &#8216;non liquet&#8217; para deixar de proferir senten\u00e7a.\u201d (CARLOS ALBERTO CARMONA).&nbsp;<\/span><br><\/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 presidente da arbitragem somente proferir\u00e1 voto de minerva (\u00a7 1\u00ba do art. 24 da Lei de Arbitragem) quando os demais \u00e1rbitros tenham votado sobre o m\u00e9rito. \u201c&#8230; a regra refere-se apenas \u00e0 diverg\u00eancia qualitativa, e n\u00e3o quantitativa, de modo que, n\u00e3o se formando maioria acerca da decis\u00e3o, atribui-se ao voto do presidente o maior peso, evitando-se o non liquet.\u201d (CARLOS ALBERTO CARMONA)&nbsp;<\/span><br><\/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 );\">Arts. 939 e 140 do CPC que ilustram a \u201cratio\u201d do sistema jur\u00eddico vigente e podem ser invocados analogicamente. Embora o diploma processual n\u00e3o seja supletivo \u00e0 Lei de Arbitragem (THIAGO MARINHO NUNES), certo \u00e9 que os \u00e1rbitros h\u00e3o de estar atentos, ao apreciar hip\u00f3teses assemelhadas, \u00e0s solu\u00e7\u00f5es edificadas pelo legislador, mormente quando em causa quest\u00f5es constitucionais, como no caso presente. Recurso \u00e0 analogia, na colmata\u00e7\u00e3o de lacuna da Lei de Arbitragem no disciplinar o \u201cnon liquet\u201d (MARIA HELENA DINIZ).&nbsp;<\/span><br><\/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 );\">Senten\u00e7a reformada. A\u00e7\u00e3o julgada procedente, declarada a nulidade da senten\u00e7a arbitral, determinando-se que outra se profira, com a reabertura de vota\u00e7\u00e3o, quando, ent\u00e3o, tamb\u00e9m o \u00e1rbitro que n\u00e3o votou dever\u00e1 faz\u00ea-lo, sendo, se preciso, substitu\u00eddo por outro, que a isso n\u00e3o se negue.&nbsp;<\/span><br><\/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 );\">Apela\u00e7\u00e3o a que se d\u00e1 provimento, levantada de of\u00edcio restri\u00e7\u00e3o de publicidade.&nbsp;<\/span><br><\/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 );\">(TJSP. 1\u00aa C\u00e2mara Reservada de Direito Empresarial. Apela\u00e7\u00e3o C\u00edvel n\u00ba 1094661-81.2019.8.26.0100. Rel.: Des. Cesar Ciampolini. Data de julgamento: 24.05.2023. Data de publica\u00e7\u00e3o: 30.05.2023)&nbsp;<\/span><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<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 105 | Junho 2023 Download PDF Nesta edi\u00e7\u00e3o: Publicado Decreto que atribui compet\u00eancia ao Banco Central para regular os prestadores de servi\u00e7os de ativos virtuais Em 14.06.2023 foi publicado o Decreto n\u00ba 11.563\/2023 que atribui compet\u00eancia ao Banco Central do Brasil \u2013 BACEN para regular dos prestadores de servi\u00e7os de ativos virtuais a [&hellip;]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,22],"tags":[],"class_list":["post-5366","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 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Newsletter N\u00b0105 - Moreira Menezes Martins<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/moreiramenezes.com.br\/en\/newsletter-n105\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newsletter N\u00b0105 - Moreira Menezes Martins\" \/>\n<meta property=\"og:description\" content=\"Newsletter n\u00ba 105 | Junho 2023 Download PDF Nesta edi\u00e7\u00e3o: Publicado Decreto que atribui compet\u00eancia ao Banco Central para regular os prestadores de servi\u00e7os de ativos virtuais Em 14.06.2023 foi publicado o Decreto n\u00ba 11.563\/2023 que atribui compet\u00eancia ao Banco Central do Brasil \u2013 BACEN para regular dos prestadores de servi\u00e7os de ativos virtuais a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/moreiramenezes.com.br\/en\/newsletter-n105\/\" \/>\n<meta property=\"og:site_name\" content=\"Moreira Menezes Martins\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-26T17:27:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-26T18:46:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg\" \/>\n<meta name=\"author\" content=\"Larissa Barreto\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Larissa Barreto\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"33 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/\"},\"author\":{\"name\":\"Larissa Barreto\",\"@id\":\"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/db6a0a10ab27b0cc9c942206599b632e\"},\"headline\":\"Newsletter N\u00b0105\",\"datePublished\":\"2023-06-26T17:27:30+00:00\",\"dateModified\":\"2023-06-26T18:46:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/\"},\"wordCount\":5685,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg\",\"articleSection\":[\"Newsletter\",\"Newsletter MMM\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/\",\"url\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/\",\"name\":\"Newsletter N\u00b0105 - Moreira Menezes Martins\",\"isPartOf\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg\",\"datePublished\":\"2023-06-26T17:27:30+00:00\",\"dateModified\":\"2023-06-26T18:46:08+00:00\",\"author\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/db6a0a10ab27b0cc9c942206599b632e\"},\"breadcrumb\":{\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage\",\"url\":\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg\",\"contentUrl\":\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"In\u00edcio\",\"item\":\"https:\/\/moreiramenezes.com.br\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Newsletter\",\"item\":\"https:\/\/moreiramenezes.com.br\/categorias\/newsletter\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Newsletter N\u00b0105\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/moreiramenezes.com.br\/#website\",\"url\":\"https:\/\/moreiramenezes.com.br\/\",\"name\":\"Moreira Menezes Martins\",\"description\":\"Moreira Menezes Martins - Advogados\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/moreiramenezes.com.br\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/db6a0a10ab27b0cc9c942206599b632e\",\"name\":\"Larissa Barreto\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/50db20b5225e771dcc6d81422e0f18f91fe15b5737e0b579696a402f2660a7f6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/50db20b5225e771dcc6d81422e0f18f91fe15b5737e0b579696a402f2660a7f6?s=96&d=mm&r=g\",\"caption\":\"Larissa Barreto\"},\"url\":\"https:\/\/moreiramenezes.com.br\/en\/author\/larissa\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Newsletter N\u00b0105 - Moreira Menezes Martins","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/moreiramenezes.com.br\/en\/newsletter-n105\/","og_locale":"en_US","og_type":"article","og_title":"Newsletter N\u00b0105 - Moreira Menezes Martins","og_description":"Newsletter n\u00ba 105 | Junho 2023 Download PDF Nesta edi\u00e7\u00e3o: Publicado Decreto que atribui compet\u00eancia ao Banco Central para regular os prestadores de servi\u00e7os de ativos virtuais Em 14.06.2023 foi publicado o Decreto n\u00ba 11.563\/2023 que atribui compet\u00eancia ao Banco Central do Brasil \u2013 BACEN para regular dos prestadores de servi\u00e7os de ativos virtuais a [&hellip;]","og_url":"https:\/\/moreiramenezes.com.br\/en\/newsletter-n105\/","og_site_name":"Moreira Menezes Martins","article_published_time":"2023-06-26T17:27:30+00:00","article_modified_time":"2023-06-26T18:46:08+00:00","og_image":[{"url":"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg","type":"","width":"","height":""}],"author":"Larissa Barreto","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Larissa Barreto","Est. reading time":"33 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#article","isPartOf":{"@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/"},"author":{"name":"Larissa Barreto","@id":"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/db6a0a10ab27b0cc9c942206599b632e"},"headline":"Newsletter N\u00b0105","datePublished":"2023-06-26T17:27:30+00:00","dateModified":"2023-06-26T18:46:08+00:00","mainEntityOfPage":{"@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/"},"wordCount":5685,"commentCount":0,"image":{"@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage"},"thumbnailUrl":"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg","articleSection":["Newsletter","Newsletter MMM"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/","url":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/","name":"Newsletter N\u00b0105 - Moreira Menezes Martins","isPartOf":{"@id":"https:\/\/moreiramenezes.com.br\/#website"},"primaryImageOfPage":{"@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage"},"image":{"@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage"},"thumbnailUrl":"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg","datePublished":"2023-06-26T17:27:30+00:00","dateModified":"2023-06-26T18:46:08+00:00","author":{"@id":"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/db6a0a10ab27b0cc9c942206599b632e"},"breadcrumb":{"@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/moreiramenezes.com.br\/newsletter-n105\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#primaryimage","url":"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg","contentUrl":"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2020\/08\/mmm-negativo.svg"},{"@type":"BreadcrumbList","@id":"https:\/\/moreiramenezes.com.br\/newsletter-n105\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"In\u00edcio","item":"https:\/\/moreiramenezes.com.br\/"},{"@type":"ListItem","position":2,"name":"Newsletter","item":"https:\/\/moreiramenezes.com.br\/categorias\/newsletter\/"},{"@type":"ListItem","position":3,"name":"Newsletter N\u00b0105"}]},{"@type":"WebSite","@id":"https:\/\/moreiramenezes.com.br\/#website","url":"https:\/\/moreiramenezes.com.br\/","name":"Moreira Menezes Martins","description":"Moreira Menezes Martins - Advogados","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/moreiramenezes.com.br\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/db6a0a10ab27b0cc9c942206599b632e","name":"Larissa Barreto","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/moreiramenezes.com.br\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/50db20b5225e771dcc6d81422e0f18f91fe15b5737e0b579696a402f2660a7f6?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50db20b5225e771dcc6d81422e0f18f91fe15b5737e0b579696a402f2660a7f6?s=96&d=mm&r=g","caption":"Larissa Barreto"},"url":"https:\/\/moreiramenezes.com.br\/en\/author\/larissa\/"}]}},"_links":{"self":[{"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/posts\/5366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/comments?post=5366"}],"version-history":[{"count":19,"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/posts\/5366\/revisions"}],"predecessor-version":[{"id":5400,"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/posts\/5366\/revisions\/5400"}],"wp:attachment":[{"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/media?parent=5366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/categories?post=5366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moreiramenezes.com.br\/en\/wp-json\/wp\/v2\/tags?post=5366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}