CVM extends deadline for Resolution 175.
The Brazilian Securities and Exchange Commission ("CVM") published today, 12.03.2024, CVM Resolution 200, which postpones the deadlines set out in CVM Resolution 175 (the new regulatory framework for investment funds).
The new deadlines are:
- from 1/12/2024 to 30/6/2025: Adaptation of the stock of funds in operation when the resolution was published.
- from 1/4/2024 to 29/11/2024: Adaptation of the stock of credit rights investment funds - FIDC in operation at the time of publication of the resolution.
- from 1/4/2024 to 1/11/2024: Entry into force of §1 of art. 140, referring to the establishment of the maximum distribution rate in the regulation, as well as the other commands related to said rate.
- from 1/4/2024 to 1/10/2024: Entry into force of §§ 2 and 4 of article 140, regarding the possibility of funds having different classes and subclasses of quotas, and regarding the existence of a remuneration agreement based on the administration, performance or management fee, respectively.
For more information, please contact the Capital Markets team at our office([email protected]).