Brazil’s Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM) has published Instruction 469/08, on the application of Law 11,638/07 to corporations. Law 11,638/07 amends Law 6,404/76 (Corporations’ Act), particularly with respect to financial statements. The Instruction establishes that the provisions of Law 11,638/07 apply to financial statements as of January 1, 2008.
20May 2008