CVM Instruction 480, 2009.

South America Current 2009

Instruction 480 was issued by the Securities and Exchange Commission (CVM), aiming to raise the bar of transparency in public companies by setting new disclosure requirements. Securities issuers are obliged to provide information on an annual basis that ranges from board practices to risk management policy, and the main risk factors that impact the organization.



Industry sectors covered by the instrument

Specific sector/s

Organizations covered by the instrument

Public sector and state-owned organizations - securities issuers

Issuer type

Financial Regulators

Type of instrument


Mandatory or voluntary


The geographical scope


Project Partners