Novos investidores pessoa física na bolsa brasileira e a regulação da CVM: uma análise entre 2013 e 2023

Abstract

Since mid-2018, the Brazilian capital market has witnessed a significant increase in the number of individual investors in the stock exchange environment. In light of this scenario, the present study aims to conduct a descriptive analysis of the profile of new investors in the Brazilian stock exchange environment and to evaluate the response of the Securities and Exchange Commission of Brazil (CVM) in the face of the growing interest of individual investors in the Brazilian capital market, particularly in the opportunities offered by the stock exchange. This is done in order to comprehend how the institution has been working to ensure an environment of stability and confidence. In pursuit of the stated objective, a bibliographical review will be conducted on the organization of the Brazilian National Financial System, highlighting the Securities and Exchange Commission, elucidating its functions and significance for the overall system. Furthermore, a theoretical foundation will be established concerning market efficiency and the importance of information, alongside a descriptive analysis of the profile of the new investors. Additionally, a quantitative analysis of qualitative data will be structured, pertaining to the CVM regulations regarding these new investors. One of the main outcomes obtained highlights the CVM's concern for the new investors, particularly regarding their access to appropriate and high-quality information.