It is an independent agency linked to the Ministry of Finance (Brazil) The CVM was established on 7 December 1976, with the passing of the Brazilian legislation Law (6385/76).

In addition the CVM also performs duties under the corporation act as part of Law (6404/76) On Dec 7 2009, CVM enacted a new regulation to enhance the information provided to investors by companies issuing securities in line with International Organization of Securities Commissions guidelines.

If it has any suspicion CVM can start an investigation, through which it may collects information, take testimony and evidence in order to clearly the identify of the person responsible of illegal practices.

The CVM is headquartered in Rio de Janeiro and has two regional offices in São Paulo and Brasília.

It is managed by a board composed of a chairperson and four commissioners, all appointed by the President of Brazil.