Cooperação jurídica internacional no mercado de capitais brasileiro

Abstract

The greater interconnection in capital markets as a result of globalisation reverberates positive and negative impacts of regulatory policies adopted worldwide, imposing risks to the international financial market. The International Organization of Securities Commissions IOSCO was created in order to adopt international standards of regulation and to promote exchange of knowledge and information among regulators. IOSCO considers international cooperation the best and most suitable way of providing exchange of information. The focus of this work is to analyse the Brazilian international cooperation system, with a special view of memorandum of understanding regarding cooperation and mutual legal assistance signed by regulatory entities in the capital market. As such, this dissertation will analyse the constitutionality of bilateral and multilateral memorandum of understanding reached by the Brazilian s Securities and Exchange Commission (CVM), considering constitutional restrictions that limit to the President the power to sign treaties and to have relations with foreign countries as well as the constitutional jurisdiction given to the Superior Tribunal de Justiça to enforce foreign judgments. The results suggests the feasibility of the formulation of effective tools of international cooperation through treaties or national statutes without violation of the President s or the higher courts powers, whereas some conditions are respected