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

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dc.contributor.authorInternational Monetary Fund
dc.contributor.authorWorld Bank
dc.date.accessioned2013-10-01T18:18:50Z
dc.date.available2013-10-01T18:18:50Z
dc.date.issued2013-06
dc.description.abstractThe 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.identifierhttp://documents.worldbank.org/curated/en/2013/06/18170310/brazil-financial-sector-assessment-program
dc.identifier.doi10.1596/15973
dc.identifier.urihttps://hdl.handle.net/10986/15973
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO INFORMATION
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARD
dc.subjectACCOUNTING STANDARDS
dc.subjectASSET HOLDINGS
dc.subjectASSET VALUE
dc.subjectAUCTION
dc.subjectAUDIT COMMITTEE
dc.subjectAUDIT COMMITTEES
dc.subjectAUDIT STANDARD
dc.subjectAUDIT STANDARDS
dc.subjectBACKED SECURITIES
dc.subjectBANKING ASSETS
dc.subjectBANKING LAW
dc.subjectBANKING SECTOR
dc.subjectBANKRUPTCY
dc.subjectBID
dc.subjectBROKER
dc.subjectBROKERAGE
dc.subjectBROKERAGE FIRMS
dc.subjectBROKERS
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FUNDS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCASH MANAGEMENT
dc.subjectCD
dc.subjectCENTRAL BANK
dc.subjectCERTIFICATE OF DEPOSIT
dc.subjectCLEARING HOUSES
dc.subjectCOLLECTIVE INVESTMENT
dc.subjectCOMPANY LAW
dc.subjectCONFLICT OF INTEREST
dc.subjectCONFLICTS OF INTEREST
dc.subjectCORPORATE DEBT
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIT RATING
dc.subjectCREDIT RATING AGENCIES
dc.subjectCREDITOR
dc.subjectCREDITOR RIGHTS
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT INVESTMENTS
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SECURITIES
dc.subjectDEBTOR
dc.subjectDEFAULT RISK
dc.subjectDEFAULTS
dc.subjectDEPOSIT INTEREST
dc.subjectDERIVATIVE
dc.subjectDERIVATIVE MARKETS
dc.subjectDERIVATIVES
dc.subjectDERIVATIVES MARKET
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDISPUTE RESOLUTION
dc.subjectENFORCEMENT POWERS
dc.subjectEQUITIES
dc.subjectEQUITY FUNDS
dc.subjectEQUITY INVESTMENT
dc.subjectEQUITY INVESTMENTS
dc.subjectEQUITY MARKET
dc.subjectEQUITY MARKET CAPITALIZATION
dc.subjectEQUITY MARKETS
dc.subjectEXCHANGE COMMISSION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SYSTEM
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTORS
dc.subjectFRAUD
dc.subjectFUTURES
dc.subjectFUTURES MARKET
dc.subjectGOVERNANCE STANDARDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT DEBT MARKET
dc.subjectGOVERNMENT DEBT MARKETS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGUARANTEE FUND
dc.subjectHEDGE FUNDS
dc.subjectINFLATION
dc.subjectINFORMATION DISCLOSURE
dc.subjectINFORMATION SYSTEM
dc.subjectINITIAL PUBLIC OFFERING
dc.subjectINSTITUTIONAL INVESTMENT SECTOR
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE FUTURE
dc.subjectINTEREST RATE RISK
dc.subjectINTEREST RATES ON GOVERNMENT SECURITIES
dc.subjectINTERESTS OF INVESTORS
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTING
dc.subjectINVESTMENT FUNDS
dc.subjectINVESTOR EDUCATION
dc.subjectINVESTOR LOSSES
dc.subjectINVESTOR PROTECTION
dc.subjectIPO
dc.subjectJUDICIAL PROCESS
dc.subjectLEGAL AUTHORITY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL PROTECTIONS
dc.subjectLENDER
dc.subjectLIMITED LIABILITY
dc.subjectLIQUIDATION
dc.subjectLIQUIDITY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET ANALYSTS
dc.subjectMARKET CAP
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET DEVELOPMENT
dc.subjectMARKET FOR GOVERNMENT DEBT
dc.subjectMARKET INSTABILITY
dc.subjectMARKET INTERMEDIARIES
dc.subjectMARKET INTERMEDIARY
dc.subjectMARKET LIQUIDITY
dc.subjectMARKET OVERSIGHT
dc.subjectMARKET PARTICIPANT
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET STRUCTURE
dc.subjectMARKET SURVEILLANCE
dc.subjectMATURITY
dc.subjectMINORITY INVESTORS
dc.subjectMINORITY SHAREHOLDER
dc.subjectMINORITY SHAREHOLDER PROTECTION
dc.subjectMINORITY SHAREHOLDER PROTECTIONS
dc.subjectMONETARY FUND
dc.subjectMONEY MARKET
dc.subjectMONEY MARKET INSTRUMENTS
dc.subjectMUTUAL FUND
dc.subjectMUTUAL FUND INDUSTRY
dc.subjectMUTUAL FUND SHARES
dc.subjectMUTUAL FUNDS
dc.subjectNATIONAL TREASURY
dc.subjectNONPERFORMING LOANS
dc.subjectNPL
dc.subjectOPEN MARKET
dc.subjectOVERNIGHT REPOS
dc.subjectPAYMENT SYSTEM
dc.subjectPAYMENT SYSTEMS
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPENSIONS
dc.subjectPOLICY CREDIBILITY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO HOLDINGS
dc.subjectPORTFOLIOS
dc.subjectPRICE FORMATION
dc.subjectPRIVATE DEBT
dc.subjectPRIVATE DEBT MARKET
dc.subjectPRIVATE EQUITY
dc.subjectPROTECTION OF MINORITY SHAREHOLDERS
dc.subjectPRUDENTIAL REGULATION
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectREGULATORY AUTHORITIES
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY INFRASTRUCTURE
dc.subjectREGULATORY OVERSIGHT
dc.subjectREGULATORY STRUCTURE
dc.subjectREGULATORY SYSTEM
dc.subjectRETAIL INVESTORS
dc.subjectRETURN
dc.subjectRETURN ON ASSETS
dc.subjectRETURNS
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT SYSTEMS
dc.subjectRISK MANAGEMENT TOOLS
dc.subjectSALE OF GOVERNMENT SECURITIES
dc.subjectSECONDARY MARKET
dc.subjectSECONDARY MARKET TRADING
dc.subjectSECONDARY MARKETS
dc.subjectSECURITIES
dc.subjectSECURITIES EXCHANGES
dc.subjectSECURITIES HOLDING
dc.subjectSECURITIES LAW
dc.subjectSECURITIES MARKET
dc.subjectSECURITIES MARKETS
dc.subjectSECURITIES REGULATION
dc.subjectSECURITIES TRANSACTIONS
dc.subjectSELF-REGULATION
dc.subjectSETTLEMENT
dc.subjectSETTLEMENT SYSTEMS
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM INTEREST RATES
dc.subjectSOVEREIGN DEBT
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK EXCHANGES
dc.subjectSUPERVISORY AUTHORITY
dc.subjectSUPERVISORY POWERS
dc.subjectTAX
dc.subjectTAX TREATMENT
dc.subjectTRADING
dc.subjectTRADING SYSTEM
dc.subjectTRADING SYSTEMS
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectTURNOVER
dc.subjectUNFAIR PRACTICES
dc.subjectUNIVERSAL BANKING
dc.subjectUNIVERSAL BANKS
dc.subjectUNLIMITED LIABILITY
dc.subjectUSE OF DERIVATIVES
dc.subjectVALUATION
dc.subjectVALUATIONS
dc.titleFinancial Sector Assessment Program : Brazil - IOSCO Objectives and Principles of Securities Regulationen
dspace.entity.typePublication
okr.date.disclosure2013-08-30
okr.date.doiregistration2025-05-07T11:29:50.837984Z
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program (FSAP)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2013/06/18170310/brazil-financial-sector-assessment-program
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid782881468226153252
okr.identifier.externaldocumentum000442464_20130830123603
okr.identifier.internaldocumentum18170310
okr.identifier.report80728
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/08/30/000442464_20130830123603/Rendered/PDF/807280ESW0Braz00Box379814B00Public0.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryBrazil
okr.sectorFinance :: General finance sector
okr.themeRule of law :: Legal institutions for a market economy
okr.themeFinancial and private sector development :: Regulation and competition policy
okr.themeFinancial and private sector development :: Standards and financial reporting
okr.themeFinancial and private sector development :: Other financial and private sector development
okr.themeTrade and integration :: International financial architecture
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicFinance and Financial Sector Development::Mutual Funds
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.unitFinancial Sector Assessment Prog (FFSFP)
okr.volume1 of 1
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