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Home > Mining Companies > Vale S.A. > News > Fundo 157: How to avoid scams
Vale S.A.

Fundo 157: How to avoid scams

Jan 29, 2021

Offers over the phone, share redemption information and alleged representatives of the Shares Department are some of the tactics used in the scams involving investments in the financial market.
 
One of the most common ones involves Fundo 157, in which income tax is used in financial investments. Vale clarifies that it does not have shares linked to Fundo 157. It is important to be attentive and, if in doubt, contact a bank or broker.
 
What is Fundo 157?
 
Fundo 157 was created by Decree-law no. 157, dated 02.10.1967 and allows part of the tax from the Income Tax Declaration to be used in fund shares managed by financial institutions.
 
Only those who declared income tax between the years 1967 and 1983 may still have some type of investment in Fundo 157.
 
Tips to protect yourself
 
  • Be wary of promises of quick profits and proposals that are urgent or have privileged information.
  • To buy and sell shares, always make sure the institutions are authorized by Banco Central [Central bank of Brazil] and registered with CVM [Securities and Exchange Commission of Brazil]
  • To verify that the institutions are in compliance, visit CVM´s website (www.cvm.gov.br)
  • Do not click on links from people or institutions you are not familiar with.
 

Source: http://www.vale.com/brasil/EN/aboutvale/news/Pages/fundo-157-how-to-avoid-scams.aspx

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