The new version of ANBIMA's Certification Rules and Procedures, published on January 2nd, may require significant changes for asset managers.
Below we highlight the main innovations relating to the certifications applicable to ANBIMA member management companies:
- Certified Back-up Professional: The new Certification Rules and Procedures will require the maintenance of at least one (1) duly certifiedBack-up Professional in the area of Asset Management. There is currently no requirement for the Alternate Professional to be certified, only for the Full Professional. However, the Alternate Professional, who was already required by self-regulation, will replace the Head Professional in the event of absence or unavailability (vacations and leaves, for example), with discretionary investment power and must be certified to do so;
- Full and Alternate Professionals must be part of the permanent staff: Full and Alternate Professionals must be part of the permanent staff of the managers and work directly and regularly in the Third Party Funds Management activity, and the appointment of external service providers is prohibited, except in cases where the services provided to the manager occur exclusively and repeatedly.
The above obligations will come into force on January 2, 2026.
Finally, it is worth noting that the CFG, CGA and CGE certifications, which were valid on January 2, 2025, no longer have an indefinite expiration date, but will remain valid until January 2, 2030, subject to updating in accordance with the procedure established by ANBIMA.
The Capital Markets team at Barcellos Tucunduva Advogados is available to answer any questions on the subject, by e-mailing mercadodecapitais@btlaw.com.br.
