On October 29, 2024, the Securities and Exchange Commission (“CVM”) released CVM Regulations No. 215 and 216 (“RCVM 215” and “RCVM 216”, respectively). RCVM 215 establishes the new regulatory framework applicable to Tender Offers (OPA) and revokes CVM Regulation No. 85, of March 31, 2022, while RCVM 216 made specific changes to other regulations to align them with the new regulatory regime.