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CVM regulates the constitution and operation of the Regulatory Sandbox

On May 15, 2020, the Securities and Exchange Commission (“CVM”) issued Instruction No. 626 (“CVM Instruction 626”), which regulates the creation and operation of an experimental regulatory environment (“Regulatory Sandbox”). The rule is the result of CVM Public Hearing Notice No. 05, dated August 28, 2019, whose deadline for manifestation ended on October 12, 2019.

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