The Brazilian Securities and Exchange Commission (CVM) announced this week Resolution CVM No. 200/2024, which amends the effective dates of certain provisions of Resolution CVM No. 175/2022 (new regulatory framework for investment funds).
The main changes pertain to the deadlines for investment funds to adapt to the rules of Resolution CVM No. 175/2022.
In this regard, it is important to note the following new effective dates for provisions:
– Adaptation of investment funds in receivables rights (FIDC) in operation at the beginning of the effectiveness of Resolution CVM No. 175/2022: changed from April 1, 2024, to November 29, 2024.
– Adaptation of other funds in operation at the beginning of the effectiveness of Resolution CVM No. 175/2022: changed from December 31, 2024, to June 30, 2025.
– Effective date of provisions related to the maximum distribution fee: changed from April 1, 2024, to November 1, 2024.
– Effective date of provisions related to the possibility of funds having different classes and subclasses of shares: changed from April 1, 2024, to October 1, 2024.
– Effective date of provisions on compensation agreement based on administration, performance, or management fee: changed from April 1, 2024, to October 1, 2024.
