On 28 November 2019, BRZ GVT issued rules re funds of non-resident investors.
- Resolution 4,761, of 27 November 2019 on rules for investments of non-residents in Brazil.
- Amends annex II to resolution 4,373 of 2014 on investments of non-resident investors in Brazil’s financial and capital markets, mainly its arts 2.I, 2.III, 2.IV, 3, 4, 6, 7 and 8.
- Covers funds entered into country to acquire assets e.g. abs (art 2.I), depositary receipt program (3, 4), entities that must comply with new rules as per said program.
- Also sets specific rules for registration of assets part of mentioned program (6, 7, 8).
- In addition, the resolution repealed art 5 of annex II to resolution 4,373 of 2014.
- The resolution will enter into force 90 days after publication i.e. 26 February 2020.