November 2021 – Brazil – Rossetti Advogados

The Administrative Rule of the Ministry of Economy No. 12.071 of October 7, 2021, published in the Federal Official Gazette last October 13 by the Ministry of Economy, waives the publication in official gazettes and newspapers of wide circulation, by privately-held companies (which do not trade their shares on the stock exchange) that gross up to R$ 78 million per year, of balance sheets, audit reports, minutes or any other corporate acts required by the Corporation Law.  

The corporate documents may now be published free of charge in the Balance Sheet Center of the Digital Bookkeeping Public System (“Sped”). 

The Sped is an electronic system developed by the Ministry of Economy that permits the publication of documents with electronic signature by companies that use digital certificate, mandatory encrypted key for all legal entities, guaranteeing authenticity of the acts, indicating the date of publication and the fact that the document has not been changed.

The publication of the administrative rule regulates Supplementary Law No. 182 of June 2, 2021, which instituted the Legal Framework for Startups.

This measure brings significant gains by streamlining and increasing the transparency in the disclosure of mandatory acts, in addition to reducing the high costs involved in such publications, thus increasing the business competitiveness. 

For more information on the above or in other matters, please contact Maristela SA Rossetti (mar@rraa.com.br) or Gilberto Rossetti (gmr@rraa.com.br).

This article is based on publicly available information and given for informational purposes only. It is not intended as legal advice or as a comprehensive analysis of the matters referred to herein.

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