CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION

Detalhes bibliográficos
Autor(a) principal: Lima, Marcelo Machado Costa
Data de Publicação: 2021
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista da EMERJ (Online)
Texto Completo: https://ojs.emerj.com.br/index.php/revistadaemerj/article/view/355
Resumo: Although we are dealing with financial values subject to registration or waiver before the Brazilian Securities and Exchange Commission (CVM), several brazilian “condo-hotels” were irregularly offered to the community without the prior analysis of the Commission. In addition, the regulatory norms regarding this issue have been solemnly ignored, including in relation to the right of withdrawal assured to purchasers who have acquired ideal fractions of unregistered ventures, or even victims of information asymmetry, market failure of singular gravity. The purpose of our brief reflections is to contribute to the understanding of the structural contours of condo-hotels, the CVM rules that govern their public offer and the rights of purchasers. This article is the result of investigation that can be classified as to the purpose, as applied research; as for the objectives, it has exploratory and explanatory claims; as for the approach, it is a qualitative research; as for the procedures related to data collection, bibliographic and documentary research (jurisprudential and legislative) were carried out.
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spelling CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSIONCONDO-HOTELES, ASIMETRÍAS INFORMATIVAS Y EL PAPEL DE LA COMISIÓN DE BOLSA Y VALORES DE BRASILCONDO-HOTÉIS, ASSIMETRIAS INFORMACIONAIS E O PAPEL DA COMISSÃO DE VALORES MOBILIÁRIOSdisclosurefalhas de mercadoinformaçãonulidadeanulabilidadedisclosuremarket failuresinformationnullityannulabilityAlthough we are dealing with financial values subject to registration or waiver before the Brazilian Securities and Exchange Commission (CVM), several brazilian “condo-hotels” were irregularly offered to the community without the prior analysis of the Commission. In addition, the regulatory norms regarding this issue have been solemnly ignored, including in relation to the right of withdrawal assured to purchasers who have acquired ideal fractions of unregistered ventures, or even victims of information asymmetry, market failure of singular gravity. The purpose of our brief reflections is to contribute to the understanding of the structural contours of condo-hotels, the CVM rules that govern their public offer and the rights of purchasers. This article is the result of investigation that can be classified as to the purpose, as applied research; as for the objectives, it has exploratory and explanatory claims; as for the approach, it is a qualitative research; as for the procedures related to data collection, bibliographic and documentary research (jurisprudential and legislative) were carried out.Si bien se trata de valores sujetos a registro o renuncia ante la Comisión de Bolsa y Valores de Brasil (CVM), varios “condo-hoteles” fueron ofrecidos irregularmente a la comunidad sin un análisis previo por parte de la autoridad. Además, se han ignorado solemnemente las normas regulatorias sobre este tema, incluso en relación con el derecho de desistimiento asegurado a los compradores que han adquirido fracciones ideales de emprendimientos no registrados o no registrados, o incluso víctimas de asimetría de información, falla de mercado de gravedad singular. El propósito de nuestras breves reflexiones es contribuir a la comprensión de los contornos estructurales de los condo-hoteles, las reglas de la CVM que rigen su oferta pública y los derechos de los compradores. Este artículo es el resultado de una investigación que se puede clasificar según el propósito, como investigación aplicada; en cuanto a los objetivos, tiene pretensiones exploratorias y explicativas; en cuanto al enfoque, es una investigación cualitativa; En cuanto a los procedimientos relacionados con la recolección de datos, se realizaron investigaciones bibliográficas y documentales (jurisprudenciales y legislativas).Apesar de estarmos perante valores mobiliários sujeitos a registro ou a dispensa perante a Comissão de Valores Mobiliários (CVM), diversos “condo-hotéis” foram irregularmente oferecidos à coletividade sem a prévia análise da autarquia. Além disso, as normas regulamentares a respeito dessa temática têm sido solenemente ignoradas, inclusive em relação ao direito de retratação assegurado aos adquirentes que adquiriram frações ideais de empreendimentos não registrados ou com registro não dispensado, ou mesmo vítimas de assimetria informacional, falha de mercado de singular gravidade. O objetivo de nossas breves reflexões é contribuir para a compreensão dos contornos estruturais dos condo-hotéis, das normas da CVM que disciplinam a sua oferta pública e dos direitos dos adquirentes. O presente artigo é fruto de investigação que pode ser classificada quanto à finalidade, como pesquisa aplicada; quanto aos objetivos, tem pretensões exploratória e explicativa; quanto à abordagem, trata-se de pesquisa qualitativa; quanto aos procedimentos referentes à coleta de dados, foram realizadas pesquisas bibliográfica e documental (jurisprudenciais e legislativas).EMERJ2021-03-18info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttps://ojs.emerj.com.br/index.php/revistadaemerj/article/view/355Revista da EMERJ; v. 23 n. 1 (2021): Revista da EMERJ; 213-2452236-89571415-4951reponame:Revista da EMERJ (Online)instname:Escola da Magistratura do Estado do Rio de Janeiro (EMERJ)instacron:EMERJporhttps://ojs.emerj.com.br/index.php/revistadaemerj/article/view/355/134Lima, Marcelo Machado Costainfo:eu-repo/semantics/openAccess2023-03-02T00:18:18Zoai:ojs2.emerj.jus.br:article/355Revistahttps://ojs.emerj.com.br/index.php/revistadaemerj/indexPUBhttps://ojs.emerj.com.br/index.php/revistadaemerj/oairevistadaemerj@tjrj.jus.br2236-89571415-4951opendoar:2023-03-02T00:18:18Revista da EMERJ (Online) - Escola da Magistratura do Estado do Rio de Janeiro (EMERJ)false
dc.title.none.fl_str_mv CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
CONDO-HOTELES, ASIMETRÍAS INFORMATIVAS Y EL PAPEL DE LA COMISIÓN DE BOLSA Y VALORES DE BRASIL
CONDO-HOTÉIS, ASSIMETRIAS INFORMACIONAIS E O PAPEL DA COMISSÃO DE VALORES MOBILIÁRIOS
title CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
spellingShingle CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
Lima, Marcelo Machado Costa
disclosure
falhas de mercado
informação
nulidade
anulabilidade
disclosure
market failures
information
nullity
annulability
title_short CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
title_full CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
title_fullStr CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
title_full_unstemmed CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
title_sort CONDO-HOTELS, INFORMATIONAL ASYMMETRIES AND THE ROLE OF THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION
author Lima, Marcelo Machado Costa
author_facet Lima, Marcelo Machado Costa
author_role author
dc.contributor.author.fl_str_mv Lima, Marcelo Machado Costa
dc.subject.por.fl_str_mv disclosure
falhas de mercado
informação
nulidade
anulabilidade
disclosure
market failures
information
nullity
annulability
topic disclosure
falhas de mercado
informação
nulidade
anulabilidade
disclosure
market failures
information
nullity
annulability
description Although we are dealing with financial values subject to registration or waiver before the Brazilian Securities and Exchange Commission (CVM), several brazilian “condo-hotels” were irregularly offered to the community without the prior analysis of the Commission. In addition, the regulatory norms regarding this issue have been solemnly ignored, including in relation to the right of withdrawal assured to purchasers who have acquired ideal fractions of unregistered ventures, or even victims of information asymmetry, market failure of singular gravity. The purpose of our brief reflections is to contribute to the understanding of the structural contours of condo-hotels, the CVM rules that govern their public offer and the rights of purchasers. This article is the result of investigation that can be classified as to the purpose, as applied research; as for the objectives, it has exploratory and explanatory claims; as for the approach, it is a qualitative research; as for the procedures related to data collection, bibliographic and documentary research (jurisprudential and legislative) were carried out.
publishDate 2021
dc.date.none.fl_str_mv 2021-03-18
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://ojs.emerj.com.br/index.php/revistadaemerj/article/view/355
url https://ojs.emerj.com.br/index.php/revistadaemerj/article/view/355
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://ojs.emerj.com.br/index.php/revistadaemerj/article/view/355/134
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv EMERJ
publisher.none.fl_str_mv EMERJ
dc.source.none.fl_str_mv Revista da EMERJ; v. 23 n. 1 (2021): Revista da EMERJ; 213-245
2236-8957
1415-4951
reponame:Revista da EMERJ (Online)
instname:Escola da Magistratura do Estado do Rio de Janeiro (EMERJ)
instacron:EMERJ
instname_str Escola da Magistratura do Estado do Rio de Janeiro (EMERJ)
instacron_str EMERJ
institution EMERJ
reponame_str Revista da EMERJ (Online)
collection Revista da EMERJ (Online)
repository.name.fl_str_mv Revista da EMERJ (Online) - Escola da Magistratura do Estado do Rio de Janeiro (EMERJ)
repository.mail.fl_str_mv revistadaemerj@tjrj.jus.br
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