About us
Brazil at a Glance
Publications
Brazil’s Regime FÁCIL becomes operational
Published July 27, 2026
To share
Simplified framework gives smaller companies a new route to public offerings and capital-market funding
Brazil’s Regime FÁCIL, created to facilitate access to the capital markets for smaller companies, is now operational.
The framework, governed by Resolution 232 issued by Brazil’s Securities and Exchange Commission (CVM), took effect on March 16. It is available through B3, the operator of Brazil’s stock exchange, and BEE4, an organized market focused on emerging companies.
Both operators have registered with the regulator to become eligible platforms. They have also adapted their rules and procedures to receive issuers and public offerings under the new regime.
“FÁCIL” — which also means “easy” in Portuguese — stands for Facilitação do Acesso a Capital e Incentivos a Listagens (Facilitation of Access to Capital and Incentives for Listings).
Read more: Brazil launches streamlined regime to bring SMEs to capital markets
The regime applies to companies with annual gross revenue of less than R$500 million, a category known in Portuguese as Companhias de Menor Porte, or smaller companies.
FÁCIL exempts eligible companies from selected requirements under the traditional framework. The aim is to reduce the cost and complexity of accessing public markets while preserving essential investor protections.
Operational structure
Privately held companies may now apply to become registered issuers through B3 or BEE4. Companies already registered with the CVM may also migrate to FÁCIL if they meet the revenue threshold and the other applicable requirements.
Market operators are responsible for receiving applications, verifying whether companies qualify for the simplified framework, and admitting their securities to trading.
The CVM has also signed technical cooperation agreements with B3 and BEE4 covering listings, public offerings and the supervision of companies’ periodic and event-driven disclosures. The arrangements provide for information sharing and joint inspections when necessary.
Once the applicable requirements have been met and the listing has been approved by the market operator, the company receives issuer registration under the simplified framework.
Proportional requirements
One of FÁCIL’s main features is the FÁCIL Form (Formulário FÁCIL), a shorter disclosure document that may replace filings normally required under the conventional public-company and public-offering regimes.
Depending on the transaction, it may replace the reference form, prospectus and summary sheet. The document must be filed annually and updated when specified events occur.
Companies under the regime may also present financial information every six months instead of quarterly and benefit from exemptions from some disclosure, publication and corporate-governance requirements applicable to larger listed companies.
FÁCIL also gives eligible issuers different routes for raising funds. They may follow the procedures under CVM Resolution 160—the general framework governing public offerings of securities in Brazil—with simplified documentation, or use specific offering formats created for the regime.
In some cases, companies may conduct direct public offerings without prior registration of the transaction with the CVM and without hiring an offering underwriter. This option is intended to shorten execution times and reduce transaction costs.
Offerings conducted through the simplified routes are generally subject to an aggregate limit of R$300 million over a 12-month period. The framework does not apply to securitization transactions, and securities offered under FÁCIL are not available to foreign investors.
New funding route
The start of operations creates a practical financing alternative for Brazilian companies that may have outgrown crowdfunding but are not yet prepared to bear the full costs and obligations associated with a conventional public offering.
By lowering operational and regulatory barriers, FÁCIL may help smaller businesses diversify their funding sources and consider the capital markets as part of their growth and investment strategies.
The regime may also contribute to expanding Brazil’s issuer base by bringing a broader range of companies into the public markets.
Anbima self-regulation
FÁCIL is a regulatory regime established and supervised by the CVM. Separately, Anbima is developing complementary self-regulatory rules and best practices for public offerings conducted under the framework.
The specific self-regulatory framework is being discussed with market participants and is intended to support secure, efficient and sound market practices.
Brazil’s Regime FÁCIL becomes operational
Published July 27, 2026
To share
Simplified framework gives smaller companies a new route to public offerings and capital-market funding
Brazil’s Regime FÁCIL, created to facilitate access to the capital markets for smaller companies, is now operational.
The framework, governed by Resolution 232 issued by Brazil’s Securities and Exchange Commission (CVM), took effect on March 16. It is available through B3, the operator of Brazil’s stock exchange, and BEE4, an organized market focused on emerging companies.
Both operators have registered with the regulator to become eligible platforms. They have also adapted their rules and procedures to receive issuers and public offerings under the new regime.
“FÁCIL” — which also means “easy” in Portuguese — stands for Facilitação do Acesso a Capital e Incentivos a Listagens (Facilitation of Access to Capital and Incentives for Listings).
Read more: Brazil launches streamlined regime to bring SMEs to capital markets
The regime applies to companies with annual gross revenue of less than R$500 million, a category known in Portuguese as Companhias de Menor Porte, or smaller companies.
FÁCIL exempts eligible companies from selected requirements under the traditional framework. The aim is to reduce the cost and complexity of accessing public markets while preserving essential investor protections.
Operational structure
Privately held companies may now apply to become registered issuers through B3 or BEE4. Companies already registered with the CVM may also migrate to FÁCIL if they meet the revenue threshold and the other applicable requirements.
Market operators are responsible for receiving applications, verifying whether companies qualify for the simplified framework, and admitting their securities to trading.
The CVM has also signed technical cooperation agreements with B3 and BEE4 covering listings, public offerings and the supervision of companies’ periodic and event-driven disclosures. The arrangements provide for information sharing and joint inspections when necessary.
Once the applicable requirements have been met and the listing has been approved by the market operator, the company receives issuer registration under the simplified framework.
Proportional requirements
One of FÁCIL’s main features is the FÁCIL Form (Formulário FÁCIL), a shorter disclosure document that may replace filings normally required under the conventional public-company and public-offering regimes.
Depending on the transaction, it may replace the reference form, prospectus and summary sheet. The document must be filed annually and updated when specified events occur.
Companies under the regime may also present financial information every six months instead of quarterly and benefit from exemptions from some disclosure, publication and corporate-governance requirements applicable to larger listed companies.
FÁCIL also gives eligible issuers different routes for raising funds. They may follow the procedures under CVM Resolution 160—the general framework governing public offerings of securities in Brazil—with simplified documentation, or use specific offering formats created for the regime.
In some cases, companies may conduct direct public offerings without prior registration of the transaction with the CVM and without hiring an offering underwriter. This option is intended to shorten execution times and reduce transaction costs.
Offerings conducted through the simplified routes are generally subject to an aggregate limit of R$300 million over a 12-month period. The framework does not apply to securitization transactions, and securities offered under FÁCIL are not available to foreign investors.
New funding route
The start of operations creates a practical financing alternative for Brazilian companies that may have outgrown crowdfunding but are not yet prepared to bear the full costs and obligations associated with a conventional public offering.
By lowering operational and regulatory barriers, FÁCIL may help smaller businesses diversify their funding sources and consider the capital markets as part of their growth and investment strategies.
The regime may also contribute to expanding Brazil’s issuer base by bringing a broader range of companies into the public markets.
Anbima self-regulation
FÁCIL is a regulatory regime established and supervised by the CVM. Separately, Anbima is developing complementary self-regulatory rules and best practices for public offerings conducted under the framework.
The specific self-regulatory framework is being discussed with market participants and is intended to support secure, efficient and sound market practices.
Brazil’s Regime FÁCIL becomes operational
Published July 27, 2026
To share
Simplified framework gives smaller companies a new route to public offerings and capital-market funding
Brazil’s Regime FÁCIL, created to facilitate access to the capital markets for smaller companies, is now operational.
The framework, governed by Resolution 232 issued by Brazil’s Securities and Exchange Commission (CVM), took effect on March 16. It is available through B3, the operator of Brazil’s stock exchange, and BEE4, an organized market focused on emerging companies.
Both operators have registered with the regulator to become eligible platforms. They have also adapted their rules and procedures to receive issuers and public offerings under the new regime.
“FÁCIL” — which also means “easy” in Portuguese — stands for Facilitação do Acesso a Capital e Incentivos a Listagens (Facilitation of Access to Capital and Incentives for Listings).
Read more: Brazil launches streamlined regime to bring SMEs to capital markets
The regime applies to companies with annual gross revenue of less than R$500 million, a category known in Portuguese as Companhias de Menor Porte, or smaller companies.
FÁCIL exempts eligible companies from selected requirements under the traditional framework. The aim is to reduce the cost and complexity of accessing public markets while preserving essential investor protections.
Operational structure
Privately held companies may now apply to become registered issuers through B3 or BEE4. Companies already registered with the CVM may also migrate to FÁCIL if they meet the revenue threshold and the other applicable requirements.
Market operators are responsible for receiving applications, verifying whether companies qualify for the simplified framework, and admitting their securities to trading.
The CVM has also signed technical cooperation agreements with B3 and BEE4 covering listings, public offerings and the supervision of companies’ periodic and event-driven disclosures. The arrangements provide for information sharing and joint inspections when necessary.
Once the applicable requirements have been met and the listing has been approved by the market operator, the company receives issuer registration under the simplified framework.
Proportional requirements
One of FÁCIL’s main features is the FÁCIL Form (Formulário FÁCIL), a shorter disclosure document that may replace filings normally required under the conventional public-company and public-offering regimes.
Depending on the transaction, it may replace the reference form, prospectus and summary sheet. The document must be filed annually and updated when specified events occur.
Companies under the regime may also present financial information every six months instead of quarterly and benefit from exemptions from some disclosure, publication and corporate-governance requirements applicable to larger listed companies.
FÁCIL also gives eligible issuers different routes for raising funds. They may follow the procedures under CVM Resolution 160—the general framework governing public offerings of securities in Brazil—with simplified documentation, or use specific offering formats created for the regime.
In some cases, companies may conduct direct public offerings without prior registration of the transaction with the CVM and without hiring an offering underwriter. This option is intended to shorten execution times and reduce transaction costs.
Offerings conducted through the simplified routes are generally subject to an aggregate limit of R$300 million over a 12-month period. The framework does not apply to securitization transactions, and securities offered under FÁCIL are not available to foreign investors.
New funding route
The start of operations creates a practical financing alternative for Brazilian companies that may have outgrown crowdfunding but are not yet prepared to bear the full costs and obligations associated with a conventional public offering.
By lowering operational and regulatory barriers, FÁCIL may help smaller businesses diversify their funding sources and consider the capital markets as part of their growth and investment strategies.
The regime may also contribute to expanding Brazil’s issuer base by bringing a broader range of companies into the public markets.
Anbima self-regulation
FÁCIL is a regulatory regime established and supervised by the CVM. Separately, Anbima is developing complementary self-regulatory rules and best practices for public offerings conducted under the framework.
The specific self-regulatory framework is being discussed with market participants and is intended to support secure, efficient and sound market practices.
Get exclusive updates by email
Receive news, tips, events, and much more directly to your inbox.
Get exclusive updates by email
Receive news, tips, events, and much more directly to your inbox.