The CVM enter one more time in scene, that it must be worried in guaranteeing to the investor the access to the necessary information so that this has the certainty of that it is if involving exclusively in the risks of that has knowledge. The referring information to the securities must have some characteristics, so that they can confer efficiency to the system and guarantee practical equitable of market: fidedignidade; easy access to all the investors (current how much in such a way future); possibility of timely knowledge on the part of the interested investors. 5. Fiscalizadores agencies (Regulating) First we will speak of the ABRASCA, that is the Brazilian Association of the Public company, created in 21 of December of 1971, without lucrative ends, being that its main mission is the defense, in its performance joint, of the positions of the public company, as modern face of the Brazilian economy, next to the centers of decision and to the public opinion. Moreover, the ABRASCA is pledged in the development of the mechanisms of the stock market and in the dissemination of information on its main headings, as the actions, debentures and negotiable papers.

The ABRASCA keeps permanent convivncia with the diverse segments of the stock market, as for example, the financial intermediate and the regulating agencies. It is distinguished, in special, the systematic intermeshing in all the levels with the Commission of Movable Values. ‘ ‘ The Law n 6,385/76 attributes CVM to the ability to discipline, to fiscalize and to develop the securities. In its article 4, determines that the National Monetary Advice and the Commission of Movable Values must exert its attributions with the end of: I. To stimulate the formation of saving and its application in values movable; II.