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Simpson Thacher corporate partners Todd Crider and Grenfel Calheiros, and associate Gustavo Pinto were invited to deliver a presentation to the Brazilian Securities and Exchange Commission (Comissão Valores Mobiliários – CVM) on exemptions from registration under the Securities Act. The invitation occurred in the context of anticipated rule-making by the CVM related to private placement exemptions. The presentation covered various topics, including private offerings under Rule 144A and Regulation D, and recent changes brought by the JOBS Act, such as the lifting of the ban on general solicitation on certain offerings, bad actor prohibition and new filing and disclosure rules proposed. International associate Fernando Burman provided invaluable assistance in the preparation of the materials for the presentation.

The presentation was held at the CVM headquarters in Rio de Janeiro on September 16, 2013, and was broadcast to CVM branches in São Paulo and Brasília.