September 12, 2017 / 11:58 AM / 10 months ago

Brazil watchdog fine-tunes rules for securities filings

SAO PAULO (Reuters) - Brazil markets watchdog CVM has fine-tuned rules governing corporate securities filings, seeking to adapt disclosure practices to a market braced for fast growth in the light of declining borrowing costs and a nascent economic recovery.

In Tuesday’s edition of the government’s official gazette, CVM said the new rules will allow companies to request suspending trading of their shares to unveil a filing “for as long as necessary.” The request could be made to exchanges and over-the-counter marketplaces simultaneously, the gazette said.

Brazil's benchmark Bovespa stock index .BVSP touched an all-time high reading of 74,635 on Monday, on optimism that the government will be able to pass deficit-cutting legislation and pull the economy out of its harshest and longest recession on record.

Reporting by Guillermo Parra-Bernal and Gabriela Mello

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