Publication:
Financial Sector Assessment Program : Brazil - IOSCO Objectives and Principles of Securities Regulation

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dc.contributor.author International Monetary Fund
dc.contributor.author World Bank
dc.date.accessioned 2013-10-01T18:18:50Z
dc.date.available 2013-10-01T18:18:50Z
dc.date.issued 2013-06
dc.description.abstract The Comissao de Valores Mobiliarios - Brazil Securities Commission (CVM) has made substantial progress since the 2002 Financial Sector Assessment Program (FSAP). In 2002 the International Organization of Securities Commissions (IOSCO) assessment rated 8 principles fully implemented and 22 principles partly implemented. The 2012 assessment rates 26 principles fully implemented, 5 broadly implemented, and 6 partly implemented. Principle 38 is not rated, as a separate Report on Observance and Codes (ROSC) on systemically important payment systems was conducted as part of this FSAP update. The detailed assessment highlights significant improvements in the risk-based inspection program, adoption of an innovative issuer disclosure system, a stronger enforcement program and the adoption of International Financial Reporting Standards (IFRS). Long-standing issues on corporate governance and the protection of minority shareholders continue to be challenges. Finally, recommendations to improve prudential regulation of Collective Investment Schemes (CIS) are discussed. en
dc.identifier http://documents.worldbank.org/curated/en/2013/06/18170310/brazil-financial-sector-assessment-program
dc.identifier.uri http://hdl.handle.net/10986/15973
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ACCESS TO INFORMATION
dc.subject ACCOUNTING
dc.subject ACCOUNTING STANDARD
dc.subject ACCOUNTING STANDARDS
dc.subject ASSET HOLDINGS
dc.subject ASSET VALUE
dc.subject AUCTION
dc.subject AUDIT COMMITTEE
dc.subject AUDIT COMMITTEES
dc.subject AUDIT STANDARD
dc.subject AUDIT STANDARDS
dc.subject BACKED SECURITIES
dc.subject BANKING ASSETS
dc.subject BANKING LAW
dc.subject BANKING SECTOR
dc.subject BANKRUPTCY
dc.subject BID
dc.subject BROKER
dc.subject BROKERAGE
dc.subject BROKERAGE FIRMS
dc.subject BROKERS
dc.subject CAPITAL ADEQUACY
dc.subject CAPITAL FUNDS
dc.subject CAPITAL MARKET
dc.subject CAPITAL MARKETS
dc.subject CASH MANAGEMENT
dc.subject CD
dc.subject CENTRAL BANK
dc.subject CERTIFICATE OF DEPOSIT
dc.subject CLEARING HOUSES
dc.subject COLLECTIVE INVESTMENT
dc.subject COMPANY LAW
dc.subject CONFLICT OF INTEREST
dc.subject CONFLICTS OF INTEREST
dc.subject CORPORATE DEBT
dc.subject CORPORATE GOVERNANCE
dc.subject CREDIT RATING
dc.subject CREDIT RATING AGENCIES
dc.subject CREDITOR
dc.subject CREDITOR RIGHTS
dc.subject DEBT INSTRUMENTS
dc.subject DEBT INVESTMENTS
dc.subject DEBT RESTRUCTURING
dc.subject DEBT SECURITIES
dc.subject DEBTOR
dc.subject DEFAULT RISK
dc.subject DEFAULTS
dc.subject DEPOSIT INTEREST
dc.subject DERIVATIVE
dc.subject DERIVATIVE MARKETS
dc.subject DERIVATIVES
dc.subject DERIVATIVES MARKET
dc.subject DISCLOSURE REQUIREMENTS
dc.subject DISPUTE RESOLUTION
dc.subject ENFORCEMENT POWERS
dc.subject EQUITIES
dc.subject EQUITY FUNDS
dc.subject EQUITY INVESTMENT
dc.subject EQUITY INVESTMENTS
dc.subject EQUITY MARKET
dc.subject EQUITY MARKET CAPITALIZATION
dc.subject EQUITY MARKETS
dc.subject EXCHANGE COMMISSION
dc.subject FINANCIAL INSTITUTION
dc.subject FINANCIAL INSTITUTIONS
dc.subject FINANCIAL INSTRUMENT
dc.subject FINANCIAL MARKETS
dc.subject FINANCIAL STABILITY
dc.subject FINANCIAL STATEMENT
dc.subject FINANCIAL STATEMENTS
dc.subject FINANCIAL SYSTEM
dc.subject FOREIGN CURRENCY
dc.subject FOREIGN EXCHANGE
dc.subject FOREIGN INVESTORS
dc.subject FRAUD
dc.subject FUTURES
dc.subject FUTURES MARKET
dc.subject GOVERNANCE STANDARDS
dc.subject GOVERNMENT DEBT
dc.subject GOVERNMENT DEBT MARKET
dc.subject GOVERNMENT DEBT MARKETS
dc.subject GROSS DOMESTIC PRODUCT
dc.subject GUARANTEE FUND
dc.subject HEDGE FUNDS
dc.subject INFLATION
dc.subject INFORMATION DISCLOSURE
dc.subject INFORMATION SYSTEM
dc.subject INITIAL PUBLIC OFFERING
dc.subject INSTITUTIONAL INVESTMENT SECTOR
dc.subject INSTITUTIONAL INVESTORS
dc.subject INSURANCE
dc.subject INTEREST RATE
dc.subject INTEREST RATE FUTURE
dc.subject INTEREST RATE RISK
dc.subject INTEREST RATES ON GOVERNMENT SECURITIES
dc.subject INTERESTS OF INVESTORS
dc.subject INTERNATIONAL BANK
dc.subject INVESTING
dc.subject INVESTMENT FUNDS
dc.subject INVESTOR EDUCATION
dc.subject INVESTOR LOSSES
dc.subject INVESTOR PROTECTION
dc.subject IPO
dc.subject JUDICIAL PROCESS
dc.subject LEGAL AUTHORITY
dc.subject LEGAL FRAMEWORK
dc.subject LEGAL PROTECTION
dc.subject LEGAL PROTECTIONS
dc.subject LENDER
dc.subject LIMITED LIABILITY
dc.subject LIQUIDATION
dc.subject LIQUIDITY
dc.subject MACROECONOMIC STABILITY
dc.subject MARKET ANALYSTS
dc.subject MARKET CAP
dc.subject MARKET CAPITALIZATION
dc.subject MARKET DEVELOPMENT
dc.subject MARKET FOR GOVERNMENT DEBT
dc.subject MARKET INSTABILITY
dc.subject MARKET INTERMEDIARIES
dc.subject MARKET INTERMEDIARY
dc.subject MARKET LIQUIDITY
dc.subject MARKET OVERSIGHT
dc.subject MARKET PARTICIPANT
dc.subject MARKET PARTICIPANTS
dc.subject MARKET STRUCTURE
dc.subject MARKET SURVEILLANCE
dc.subject MATURITY
dc.subject MINORITY INVESTORS
dc.subject MINORITY SHAREHOLDER
dc.subject MINORITY SHAREHOLDER PROTECTION
dc.subject MINORITY SHAREHOLDER PROTECTIONS
dc.subject MONETARY FUND
dc.subject MONEY MARKET
dc.subject MONEY MARKET INSTRUMENTS
dc.subject MUTUAL FUND
dc.subject MUTUAL FUND INDUSTRY
dc.subject MUTUAL FUND SHARES
dc.subject MUTUAL FUNDS
dc.subject NATIONAL TREASURY
dc.subject NONPERFORMING LOANS
dc.subject NPL
dc.subject OPEN MARKET
dc.subject OVERNIGHT REPOS
dc.subject PAYMENT SYSTEM
dc.subject PAYMENT SYSTEMS
dc.subject PENSION
dc.subject PENSION FUNDS
dc.subject PENSIONS
dc.subject POLICY CREDIBILITY
dc.subject PORTFOLIO
dc.subject PORTFOLIO HOLDINGS
dc.subject PORTFOLIOS
dc.subject PRICE FORMATION
dc.subject PRIVATE DEBT
dc.subject PRIVATE DEBT MARKET
dc.subject PRIVATE EQUITY
dc.subject PROTECTION OF MINORITY SHAREHOLDERS
dc.subject PRUDENTIAL REGULATION
dc.subject PRUDENTIAL SUPERVISION
dc.subject REGULATORY AUTHORITIES
dc.subject REGULATORY AUTHORITY
dc.subject REGULATORY INFRASTRUCTURE
dc.subject REGULATORY OVERSIGHT
dc.subject REGULATORY STRUCTURE
dc.subject REGULATORY SYSTEM
dc.subject RETAIL INVESTORS
dc.subject RETURN
dc.subject RETURN ON ASSETS
dc.subject RETURNS
dc.subject RISK MANAGEMENT
dc.subject RISK MANAGEMENT SYSTEMS
dc.subject RISK MANAGEMENT TOOLS
dc.subject SALE OF GOVERNMENT SECURITIES
dc.subject SECONDARY MARKET
dc.subject SECONDARY MARKET TRADING
dc.subject SECONDARY MARKETS
dc.subject SECURITIES
dc.subject SECURITIES EXCHANGES
dc.subject SECURITIES HOLDING
dc.subject SECURITIES LAW
dc.subject SECURITIES MARKET
dc.subject SECURITIES MARKETS
dc.subject SECURITIES REGULATION
dc.subject SECURITIES TRANSACTIONS
dc.subject SELF-REGULATION
dc.subject SETTLEMENT
dc.subject SETTLEMENT SYSTEMS
dc.subject SHORT-TERM DEBT
dc.subject SHORT-TERM INTEREST RATES
dc.subject SOVEREIGN DEBT
dc.subject STOCK EXCHANGE
dc.subject STOCK EXCHANGES
dc.subject SUPERVISORY AUTHORITY
dc.subject SUPERVISORY POWERS
dc.subject TAX
dc.subject TAX TREATMENT
dc.subject TRADING
dc.subject TRADING SYSTEM
dc.subject TRADING SYSTEMS
dc.subject TRANSACTION
dc.subject TRANSACTION COSTS
dc.subject TRANSPARENCY
dc.subject TURNOVER
dc.subject UNFAIR PRACTICES
dc.subject UNIVERSAL BANKING
dc.subject UNIVERSAL BANKS
dc.subject UNLIMITED LIABILITY
dc.subject USE OF DERIVATIVES
dc.subject VALUATION
dc.subject VALUATIONS
dc.title Financial Sector Assessment Program : Brazil - IOSCO Objectives and Principles of Securities Regulation en
dspace.entity.type Publication
okr.date.disclosure 2013-08-30
okr.doctype Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
okr.doctype Economic & Sector Work
okr.docurl http://documents.worldbank.org/curated/en/2013/06/18170310/brazil-financial-sector-assessment-program
okr.globalpractice Finance and Markets
okr.globalpractice Trade and Competitiveness
okr.identifier.externaldocumentum 000442464_20130830123603
okr.identifier.internaldocumentum 18170310
okr.identifier.report 80728
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/08/30/000442464_20130830123603/Rendered/PDF/807280ESW0Braz00Box379814B00Public0.pdf en
okr.region.administrative Latin America & Caribbean
okr.region.country Brazil
okr.sector Finance :: General finance sector
okr.theme Rule of law :: Legal institutions for a market economy
okr.theme Financial and private sector development :: Regulation and competition policy
okr.theme Financial and private sector development :: Standards and financial reporting
okr.theme Financial and private sector development :: Other financial and private sector development
okr.theme Trade and integration :: International financial architecture
okr.topic Banks and Banking Reform
okr.topic Finance and Financial Sector Development :: Bankruptcy and Resolution of Financial Distress
okr.topic Finance and Financial Sector Development :: Mutual Funds
okr.topic Private Sector Development :: Emerging Markets
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.unit Financial Sector Assessment Prog (FFSFP)
okr.volume 1 of 1
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