O processo administrativo sancionador no mercado de valores mobiliáriosreflexões sobre o desenho institucional e normativo

Resumo

This dissertation analyzes the role of the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários - CVM) in protecting the rights of investors in the Brazilian capital market. First, it describes the importance of regulatory activity in this market, with a view to correcting potential failures, and the evolution of regulation in this sector in Brazil. It then addresses the importance of the enforcement as a fundamental element of the regulation of this market and focuses on the critical examination of the institutional and normative design of the sanctioning activity and the sanctioning administrative process applicable to this market, including that relating to the consensual activity in the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários - CVM). In the context of this examination, the adequacy of this normative and institutional design is evaluated and possible solutions are suggested to correct the identified imperfections. The analysis also falls on the performance of the Brazilian Securities and Exchange Commission in court for the protection of the market and investors and the identification of inefficiencies and risks to regulatory activity, institutional balance and the preservation of legal security for those administered.

Ficha do documento

Tipo

Dissertação

Ano

2022

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/32047

Palavras-chave

Capital marketSanctioning Administrative ProcessBrazilian Securities and Exchange Commission (Comissão de Valores Mobiliários - CVM)Mercado de capitaisProcesso Administrativo SancionadorComissão de Valores ImobiliáriosDireitoMercado de capitais - Regulamentação - BrasilDireito regulatórioProcesso administrativoSanções administrativasComissão de Valores Mobiliários (Brasil)