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Regulatory Report


The Securities and Exchange Commission of Brazil (CVM) submitted two draft resolutions to public consultation, intended to improve the regulatory framework on Brazilian Depositary Receipts (BDRs), which was broadened to foreign issuers and non-qualified investors in 2020.

The Federal Government enacted a decree that regulates the new legal framework for the natural gas market, providing conditions, clarifications, and principles to implement a more dynamic gas market. The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) will provide further regulation.

The Brazilian Health Regulatory Agency (ANVISA) launched a public consultation on the implementation of the Unique Device Identification (UDI) system for medical devices in Brazil. According to the draft resolution, private sector adherence may range from 2- to 6-year adaptation periods.

The Brazilian Electricity Regulatory Agency (ANEEL) launched a public consultation designed to survey the public opinion on the development of regulatory models to incorporate Distributed Energy Resources (DER), microgrid solutions, and virtual power plants to Brazil.

The Brazilian Electricity Regulatory Agency (ANEEL) submitted to public consultation a draft resolution that provides the criteria for distributors to establish distributed generation contracts with authorized generators linked to their system, as a means to lower costs and improve provision quality.

The Brazilian Electricity Regulatory Agency (ANEEL) launched a public consultation intended to survey the public opinion on the liberalization of the electricity market, through the availability of the Free Contracting Environment (ACL, in the Portuguese acronym) to all levels of demand by 2024. Contributions will support a report on the necessary regulatory measures.

The Ministry of Agriculture, Livestock and Supply (MAPA) launched a public consultation designed to survey the public opinion on a potential regulatory framework for plant-based products, which regularly replace or replicate the characteristics of products of animal origin.

The National Telecommunications Agency (ANATEL) launched two public consultations on specific technical requirements for the incorporation of 5G to Brazil. The presented normative proposals provide rules for ground stations operating within 5G frequency bands.

The National Agency for Waterway Transportation (ANTAQ) launched two public consultations designed to improve regulation on ANTAQ’s assessment procedures for cabotage navigation and container demurrage charges. They comprise ANTAQ’s 2020-2021 Regulatory Agenda.

The Federal Government sanctioned a law that enables the implementation of free flow toll collection systems in federal highways under concession. While further regulation is required, the law also provided alternative schemes where free flow is not possible.

Law n. 11.445/2020). Non-compliance entails contractual irregularity.">

The Federal Government established an assessment process for currently operating sanitation services providers to demonstrate their adherence to the universalization targets provided by the legal framework for sanitation (Law n. 11.445/2020). Non-compliance entails contractual irregularity.

The Ministry of Economy simplified the procedure for re-importing replacement products, intended to replace previously imported faulty goods, without the double imposition of import duties. Further regulation by the Federal Revenue of Brazil (RFB) is required.