On 2 October 2019, BRZ CVM repealed specific rules re investment funds.
- BRZ CVM issued instruction 615 repealing specific rules for investment funds.
Overview
- Amends, repeals provisions dealing with registration at securities registry, other regulations governing investment funds, detailed in instruction itself (12 items).
- Circular 11/2019/CVM/SIN disseminating information re instruction issued also.
- As per law 13.874/19 that amended art 1.368-C, paragraph 3, of law 10.406/02.
- Latter states registration of investment fund with BRZ CVM becomes sufficient to guarantee their publicity and provides possibility of effects re 3rd parties.
- Amends reflect legal change, restricted to withdrawal of notary registration obligation.
- Important to highlight that BRZ CVM systems responsible for registration, updates of investment funds are already being adapted to meet changes of instruction 615.
- During adjustment period, fund managers must include waived by law 13.874 in their respective notary registration information fields.
Effectiveness
- Instruction 615 effective from publication date i.e. 2 October 2019.
