On January 6, the Brazilian Financial and Capital Markets Association ("ANBIMA") launched a public hearing for amendments to the Certification Code. The objective of the changes is to adapt the normative to the new version of the Third Party Resources Management Code, which has an Annex for FIPs and comes into force as of March 2.
The main changes to the Certification Code are:
- Expansion of the scope of the CGE (ANBIMA Managers' Certification), which is now mandatory also for the members of the institution's committee that operate in the third-party funds management activity, including FIPs, and have the authority/power to make investment and/or disinvestment decisions; and
- Disclosure of deadlines for the professionals of institutions working in the management of FIPs to obtain the CGE.
Besides the Certification Code, the public hearing also began on (i) the Rules and Procedures for Defining Structured Funds, which will cover PEFs, and (ii) Rules and Procedures for Exemption from Examinations, with guidance on the possibility of exemption from the CGE examination for professionals connected to the management of PEFs.
The period for sending suggestions and comments to ANBIMA ends on January 21, 2022, the following address for manifestations should be used: [email protected].
Click here to access the full content of the public hearing. For further information, our Capital Markets team is available at [email protected]
