Investor relations website: what an IR website in Brazil needs to have and keep online

An investor relations website, or IR website, is the area of a publicly held company's website where it publishes and maintains the information the market uses to evaluate its securities: results, material facts, documents filed with the CVM (Brazil's securities regulator), governance, shareholder distributions and the contact details of the IR team. It does not replace the official systems of the CVM and of B3 (Brasil, Bolsa, Balcão, the Brazilian stock exchange), but it is usually the first place where investors, analysts and journalists look for information.

In large companies, the IR website has a particularity that no other area of the corporate website has: part of what it contains, and how long it contains it, is regulated. An outage on earnings day, a missing document or an English version published at the wrong time stop being a user experience problem and become a matter for the investor relations officer, the legal department and the board.

Who uses an investor relations website

• Analysts at banks and brokerages, who download financial statements, spreadsheets and presentations to update their models.
• Institutional investors, in Brazil and abroad, who assess governance, strategy and track record before allocating capital.
• Retail investors, who look for dividends, the calendar and explanations in accessible language.
• Journalists, who need the official announcement and the IR contact the moment the news breaks.
• Regulators, the stock exchange and credit rating agencies, which check documents and announcements.

Each audience arrives with a different question, and the site's architecture needs to answer all of them without forcing anyone to know the company's internal structure.

What Brazil's CVM requires of the company website

The Brazilian rule CVM Resolution 80, which governs the registration of issuers and their periodic and occasional information, provides in article 14 that the issuer must post and keep on its website, for 3 years from disclosure, the periodic and occasional information submitted to the CVM. Under the current text, the obligation applies to issuers that meet three requirements at the same time: registration in category A, securities traded on an exchange and shares outstanding. The same article requires this information to be delivered simultaneously to the entities that manage the markets where the securities are traded.

The resolution lists what belongs in this set. Periodic information includes the registration form, the reference form (formulário de referência), financial statements, the DFP (Demonstrações Financeiras Padronizadas, the standardized annual financial statements), the ITR (Informações Trimestrais, the quarterly information), the call notice, the management proposal, the summary of resolutions and the minutes of the annual general meeting. Occasional information includes minutes of extraordinary general meetings and of board meetings with effects on third parties, shareholder agreements, the consolidated bylaws, material fact announcements, the disclosure policy, the trading policy and the material presented at meetings with analysts, on the same day as the meeting.

CVM Resolution 80 also sets principles that apply to any content on the IR website: information that is true, complete and consistent, written in plain, clear, objective and concise language, disclosed broadly, equitably and simultaneously to the entire market, with facts kept separate from opinions and projections. The website address is one of the fields of the registration form.

Material facts: what CVM Resolution 44 says

Brazil's CVM Resolution 44 (the rule on disclosure of material facts and on securities trading) gives the investor relations officer the duty of sending material facts to the CVM and the stock exchange and of ensuring their broad and immediate dissemination, simultaneously in all markets where the securities are traded. Disclosure must be made through at least one of these channels: widely circulated newspapers customarily used by the company, or an online news portal that publishes the information in full, with free access.

The resolution does not name the company's website as a mandatory channel for material facts. But material fact announcements are among the occasional information listed in CVM Resolution 80, and are therefore part of the set that must be kept on the website. CVM 44 also requires that disclosure take place, whenever possible, before the trading session opens or after it closes, that it precede or be simultaneous with any other communication, including to the press, and that the company adopt a disclosure policy approved by the board, stating the channels it uses.

What Novo Mercado adds

Companies listed in B3's special segments have additional rules. The Novo Mercado Regulation (Regulamento do Novo Mercado, the rulebook of the B3 listing segment with the strictest corporate governance requirements), in force since 2018 in the version published by B3, contains obligations that directly affect the IR website.

• Disclosure in English, simultaneous with the Portuguese version, of material facts, information on shareholder distributions and the earnings press release. When the material fact stems from information that escaped the company's control or from atypical trading, the English version may be released up to the next business day.
• A public presentation on results within 5 business days after disclosure, in person or remote.
• An annual calendar of corporate events disclosed by December 10, with the dates of the DFP, the ITR, the annual general meeting and the reference form. If a date changes, the calendar must be updated before the event.
• A code of conduct and policies on compensation, nomination, risk management, related party transactions and securities trading, approved by the board.

The regulation requires the information and documents it calls for to be sent to B3 through Empresas.NET (the electronic system companies use to file documents with the CVM and B3) and made available on the website. In 2025, B3 carried out a review process of the regulation, and the other segments have their own rules. Confirm with the legal team which version applies to the company before finalizing the scope of the website.

Structure and navigation of an IR website

Beyond what is mandatory, there is a structure that has become established as good practice because it answers each audience's most frequent questions.

• Results center: by quarter, with the release, financial statements, presentation, data spreadsheet and conference call recording.
• Material facts and market announcements, in chronological order and searchable by date and type.
• Governance: bylaws, composition of the board, committees and executive officers, code of conduct, policies and internal charters.
• Corporate events calendar, with shareholder meetings and disclosure dates.
• Documents filed with the CVM, organized by year and type, with at least 3 years of history.
• Dividends and shareholder distributions, with history, dates and notices to shareholders.
• Shares and ownership structure, with capital composition and trading information.
• Shareholder meetings, with the call notice, management proposal, remote voting form and minutes.
• IR contact, with the team's names, email and phone number, and sign-up for email alerts.

The IR website home page should show the latest results, the latest announcements and upcoming events. That is what most visits are looking for.

Portuguese and English to the same standard

For Novo Mercado companies, English disclosure of the items listed above is an obligation. For others, a bilingual IR website is good practice whenever there are foreign investors in the shareholder base or on the radar. In both cases, the two versions should have the same structure, the same navigation and the same history. An English site that stops being updated months before the Portuguese version signals carelessness to those deciding whether to invest. On the technical side, the versions need to be linked to each other so that search engines understand the equivalence, a topic covered in SEO and GEO for large companies.

Accessibility and readable documents

Investors with disabilities read reports too. WCAG, the W3C's accessibility guidelines, is the technical reference for ensuring keyboard navigation, contrast, alternative text and compatibility with screen readers, as the article on Core Web Vitals, WCAG and conversion shows. On IR websites, the weak spot is usually the PDF: files scanned as images cannot be read by assistive technologies or indexed. Publish the release as an HTML page as well, and generate PDFs with text and a heading structure.

Publishing workflow and availability on earnings day

The critical moment for an IR website is not an ordinary day. It is the day of results or of a material fact, when many people access it at the same time, minutes after the filing with the CVM.

• Use a CMS (content management system) with access profiles: who prepares, who reviews and who publishes, with a log of every action.
• Prepare content in advance, but without making it accessible at a predictable URL before the official disclosure.
• Publish content on the website in sync with the filing with the CVM and B3, never before, and in both languages when required.
• Size the infrastructure for peaks, with a CDN (content delivery network) and caching, and monitor availability in real time.
• Have a documented contingency plan: who acts, how quickly and through which channel, if the website goes down.
• Test the full workflow before each quarterly disclosure, including on mobile.

Hypothetical example: a disclosure after market close

Consider a hypothetical company that discloses its quarterly results after the trading session closes. The situation is illustrative. The release, presentation and spreadsheet are already in the CMS, approved by IR and legal, in Portuguese and English, with no public access. As soon as the IR team confirms the filing with the CVM and B3, the same authorized person publishes both versions. Email alerts go out right after, and the press receives the material after that. The next day, the team checks that all files are accessible and that the results center has been updated in both languages.

Integration with the corporate website and the brand

The IR website can live on a subdomain, in a section of the main website or on a specialized vendor's platform. The choice depends on who operates it, on the CMS and on integration with the IR team's systems. What cannot happen is the investor feeling they have left the company: visual identity, navigation, tone and corporate information must be the same as on the corporate website. In groups with several brands and more than one listed company, this decision is part of multi-brand website architecture.

Common mistakes

• Treating the IR website as a repository of PDFs, with no pages that explain the content.
• Leaving the history incomplete or removing documents before the 3-year period ends.
• Updating the English version after the Portuguese version without support in the rules.
• Publishing on the website before the official filing, or leaving files accessible ahead of time.
• Ignoring accessibility and reading on mobile.
• Keeping a generic IR contact, with no name or direct channel.

Frequently asked questions about investor relations websites

What is an investor relations website?

It is the area of a publicly held company's website dedicated to investor relations. It brings together results, material facts, documents filed with the CVM, governance, shareholder distributions, the calendar and the IR team's contact details. For many companies in Brazil, keeping part of this content on the website is a regulatory obligation.

Does every publicly held company in Brazil need an IR website?

CVM Resolution 80 requires issuers registered in category A, with securities traded on an exchange and shares outstanding, to post and keep on their website, for 3 years, the periodic and occasional information submitted to the CVM. The rule does not require a specific website format, but the page must exist and contain this material.

Does an IR website need to be in English?

For Novo Mercado companies, yes, for material facts, information on shareholder distributions and the earnings press release, which must be released in English simultaneously with the Portuguese version. For other issuers, an English version is good practice when there are foreign investors.

Can a material fact be published on the website first?

No. CVM Resolution 44 requires the material fact to be sent to the CVM and the stock exchange and disclosed through the channels set out in the company's policy before or at the same time as any other communication. The website should reflect the official disclosure, not anticipate it.

How long do documents need to stay on an IR website?

Under CVM Resolution 80, periodic and occasional information must remain on the issuer's website for 3 years from disclosure. Many companies keep longer histories by their own choice, which helps analysts build time series.

To bring this into your planning, learn about the Website practice and the article on multi-brand website architecture.