Regulatory Alerts2014-10-25
CVM Instruction No. 524 of August 6, 2012
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 524 to amend CVM Instructions No. 409 and No. 522 regarding investment fund regulations. The amendment exempts the disclosure of the Total Expense Ratio and specific items in Annex III for funds during their first year of operation. Additionally, the instruction extends the disclosure deadline for performance demonstrations of fund-of-funds to April 30, 2013, and mandates the presentation of fund prospectuses starting in April 2013 with a deadline of May 10, 2013.
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