This update is purely procedural and administrative, establishing a digital filing system for regulatory violation reporting; it does not describe any financial product or service offered to consumers or institutions.
No investment services, lending, digital assets, or other FS product categories are substantively addressed; this is a regulatory infrastructure announcement with no product/service delivery component.
Specialism
The update establishes a new mandatory digital filing system and reporting procedure for regulatory violations, which constitutes a regulatory reporting obligation requiring firms to submit data in a prescribed format through a designated portal.
Mandatory inheritance: Regulatory Reporting is a child of Supervision, so Supervision must be raised as the secondary tag.
2026-03-06 09:25:17·ggallwey@vixio.com
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Documento esclarece sobre o uso do Novo Protocolo Digital da Autarquia
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TITLE: Brazil's Securities Commission Implements New Digital Protocol for Reporting Regulatory Violations
BODY:
On March 5, 2026, the Superintendencies of Market Relations and Intermediaries (SMI) and Market Supervision, Derivatives and Systemic Risks (SMD) of Brazil's Securities Commission (Comissão de Valores Mobiliários — CVM) published Joint Circular Notice CVM/SMI/SMD 1/2026, establishing a new communication procedure for reporting suspected violations of securities legislation.
The new protocol requires all reports of regulatory breaches to be submitted directly through the CVM's website via its digital filing system, replacing previous communication methods. The digital protocol offers enhanced security for market participants through immediate confirmation of submission and for the CVM's technical areas through automated document processing and routing to responsible departments. The system reduces operational errors and improves efficiency, processing speed, and information security.
The circular clarifies reporting procedures for specific violation categories. Reports concerning intermediary conduct and potential breaches of CVM Resolution 35 must be directed to the Intermediaries Supervision Management 1 (GSUI-1/SMI). Reports regarding investment adviser conduct should be sent to Intermediaries Supervision Management 2 (GSUI-2/SMI). Reports involving secondary market securities trading operations under CVM Resolution 62 or trading on privileged information under Article 27-D of Law 6,385 must be submitted to the Market Monitoring Management (GMA/SMD).
Market participants and regulated entities must now use the new digital protocol for all violation reports effective immediately. The CVM's technical areas emphasise that proper routing of reports to the designated management units ensures appropriate investigation and processing.
**Reference:**
Comissão de Valores Mobiliários. Ofício Circular Conjunto CVM/SMI/SMD 1/2026. Available at: https://www.gov.br/cvm