15.03.2024

Brazilian Securities and Exchange Commission extends deadlines for the entry into force of provisions of the new investment fund regulation

 

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.

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