CVM and FGV Rio de Janeiro Law School launch Investment Crowdfunding Guide
On Thursday, August 13, Fundação Getulio Vargas’ Rio de Janeiro Law School and the Brazilian Securities and Exchange Commission (CVM) will hold a debate about a newly published Investment Crowdfunding Guide. The event will be livestreamed on CVM’s Instagram profile (@CVMEducacional), starting at 5:30 pm.
The online debaters will be José Alexandre Vasco, CVM’s superintendent for investor protection and guidance; and Carlos Augusto Junqueira, a partner in the capital markets, corporate law and corporate governance areas at law firm Cescon, Barrieu, Flesch & Barreto Advogados, who was the supervisor of the Capital Markets Clinic at the FGV Rio de Janeiro Law School’s Nucleus for Legal Practice between July 2009 and July 2020. Junqueira is currently the chairman of Rio de Janeiro Catholic University’s Endowment Fund and a member of Instituto BEI’s audit council.
About the guide
The Investment Crowdfunding Guide was produced in light of CVM Instructions 588 of 2017, through an academic cooperation agreement between Fundação Getulio Vargas and CVM.
The document sets out guidance for investors, managers and entrepreneurs on investment crowdfunding, which is regulated by CVM Institutions 588. The publication, which can be downloaded free of charge, presents information on crowdfunding’s rules and general characteristics, the agents involved (platform, investors and issuers), the risks associated with crowdfunding, and its advantages and disadvantages. It also describes all the steps involved in raising capital in this way.
The partnership between the FGV Rio de Janeiro Law School and CVM began in August 2011 and it was renewed in August 2016. The first product of this collaboration was the CEPAC Guide, published in November 2013. The second was the Guide to Equity Crowdfunding for Investors and Managers, published in November 2016.
The agreement also involves preparing students to work in the capital markets. Between the second half of 2011 and the first half of 2020, the school’s Capital Markets Clinic ran 19 courses, which were taken by 221 undergraduate students, who did research and produced papers on topics related to CVM.
You can download the Investment Crowdfunding Guide here.