June 8, 2021 067/2021-PRE
CIRCULAR LETTER
To: Listed B3 Participants
Re: Changes to Regulations for Listing of Issuers and Admission of Securities to Trading and to Issuer Manual Annexes
On June 1, 2021, the Securities and Exchange Commission of Brazil (CVM) approved the changes made by B3 to its Regulations for the Listing of Issuers and Admission of Securities to Trading (Regulations), and to the Annexes to its Issuer’s Manual. The changes will take effect on June 10, 2021.
The change to the Regulations consists of classifying as “recognized markets” the Toronto Stock Exchange (TSX), London Stock Exchange (LSE), Amsterdam Stock Exchange, operated by Euronext N.V. (Euronext Amsterdam), and Cboe BZX Exchange, Inc. (CBOE BZX) for the purposes of CVM Resolution 3/2020, in accordance with CVM Instruction 480/2009, Annex 32-I, article 1, §7 (II).
The change to the Issuer’s Manual consists of the inclusion of a new Annex calling for a mandatory operational description of Sponsored Level I BDRs, previously required only for Unsponsored Level I BDRs.
To facilitate identification of the changes, the added or adjusted texts are provided below.
This Circular Letter produces effects as of the date of its publication. Any specified time limits for validity shall 1 apply. This free translation is not legally binding. Any questions arising from the text should be clarified by consulting the original in Portuguese. In the event of any discrepancy, the original in Portuguese shall prevail.
INFORMAÇÃO PÚBLICA – PUBLIC INFORMATION
067/2021-PRE 1. Regulations
Classification of exchanges as “recognized markets” and their inclusion in 6.5.1:
6.5.1. As regards specific requests to admit to trading BDRs for Securities and BDRs for ETFs, the following are classified as “recognized markets” for the purposes of the rules and regulations issued by CVM: the New York Stock Exchange (NYSE), NASDAQ Stock Market, Amsterdam Stock Exchange (Euronext Amsterdam), Toronto Stock Exchange (TSX), London Stock Exchange (LSE), and Cboe BZX Exchange, Inc. (CBOE BZX).
2. Annex to Issuer’s Manual
ANNEX 6.6.1 (A.3) has been added to the Issuer’s Manual with minimum content for the operational description of Sponsored Level I BDRs referring to securities in order to provide investors with more robust information.
In addition, the request for admission to trading of Sponsored Level I BDRs in ANNEX 6.6.1 (B) has been adjusted to include the ISIN code for the security to which the BDR refers and the name of the stock exchange on which it is traded.
The new versions of the Regulations and the Issuer’s Manual Annexes are available at www.b3.com.br/en_us, Regulation, Regulatory framework, Listing.
Further clarification can be obtained from Issuer Support by calling +55 11 2565-5063 or emailing [email protected].
Gilson Finkelsztain Viviane El Banate Basso Chief Executive Officer Chief Operating Officer – Issuers, Central Depositary and OTC
This Circular Letter produces effects as of the date of its publication. Any specified time limits for validity shall apply. This free translation is not legally binding. Any questions arising from the text should be clarified by consulting 2 the original in Portuguese. In the event of any discrepancy, the original in Portuguese shall prevail.
INFORMAÇÃO PÚBLICA – PUBLIC INFORMATION