The article reports on the regulatory changes proposed and enacted by the Brazilian Securities Commission (CVM) and the government of Brazil aimed at incentivising the entry of small and medium-sized local companies into the stock markets. Highlighted are the amendments to Instruction CVM number 391, which governs the formation and organization of private equity funds. Also noted is the investment by Brazilian Development Bank (BNDES) in private equity funds and initial public offerings (IPO).
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