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Investment-Based Crowdfunding in Brazil
On July 13, 2017, the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM) issued CVM Instruction No. 588 (ICVM 588/2017) which provides for the distribution of public offering of securities of small business companies (sociedades empresárias de pequeno porte) held with CVM registry exemption and made through electronic platforms of participatory investment in the internet, hereinafter referred to as "investment-based crowdfunding".
Brazil
7 Aug 2017
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