General Internal Regulation	CEDEVAL
Approved by the Board of Directors in session JD-02/2022 dated 02/22/2022	Version: 01

CEDEVAL

CENTRAL SECURITIES DEPOSITORY

REGULATION

GENERAL INTERNAL

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General Internal Regulation	CEDEVAL
Approved by the Board of Directors in session JD-02/2022 dated 02/22/2022	Version: 01

Content

TITLE I.................................................................................................................................................. 7 GENERAL PART ................................................................................................................................... 7 CHAPTER I.............................................................................................................................................. 7 GENERAL PROVISIONS................................................................................................................ 7 Nature ............................................................................................................................................... 7 Legal Regime ........................................................................................................................................ 8 Regulation ....................................................................................................................................... 8 Modifications to the Regulation .................................................................................................................. 9 Definition of Terms ............................................................................................................................ 9 Functions .............................................................................................................................................. 14 CHAPTER II........................................................................................................................................... 15 CORPORATE GOVERNANCE ................................................................................................................. 15 Corporate Governance Structure ...................................................................................................... 15 Board of Directors ....................................................................................................................................... 15 Presidency............................................................................................................................................ 16 General Management .................................................................................................................................. 17 Registrar............................................................................................................................................ 17 Implementation of Corporate Governance Standards ...................................................................... 18 Conflict of Interest Management ............................................................................................................ 18 Corporate Governance Code ........................................................................................................... 18 Risk Management................................................................................................................................ 18 External Audit and Fiscal Oversight ...................................................................................................... 18 Internal Control System .................................................................................................................... 18 Committees ......................................................................................................................................... 19 Regulatory Compliance Function ..................................................................................................... 19 CHAPTER III ......................................................................................................................................... 20 PARTICIPANTS.................................................................................................................................... 20 Participants.......................................................................................................................................... 20 Operations .......................................................................................................................................... 21 Information Requirements................................................................................................................ 23 Duties of Participants.................................................................................................................. 24 Contractual Suspension by CEDEVAL ................................................................................................. 24 Contractual Termination by the Participant .......................................................................................... 24 Entities Subject to Intervention .......................................................................................................... 25 Access or Identification Keys ......................................................................................................... 25 TITLE II ............................................................................................................................................... 26 ELECTRONIC RECORDS .............................................................................................................. 26 CHAPTER I............................................................................................................................................ 26 ELECTRONIC REGISTRY OF ISSUANCE DEPOSITS................................................................ 26 Electronic Registry of Issuance Deposits .................................................................................... 26

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General Internal Regulation	CEDEVAL
Approved by the Board of Directors in session JD-02/2022 dated 02/22/2022	Version: 01

Unregistered or Uninscribed Issuances ................................................................................................... 27 CHAPTER II .......................................................................................................................................... 27 ELECTRONIC REGISTRY OF SECURITIES ACCOUNTS.................................................................... 27 Electronic Registry of Securities Accounts.......................................................................................... 27 Co-ownership Accounts....................................................................................................................... 27 Responsibility .................................................................................................................................... 28 Securities Accounts ............................................................................................................................... 28 Types of Accounts .................................................................................................................................. 28 Operations Between Accounts .................................................................................................................. 29 Inactive Accounts .................................................................................................................................. 30 CHAPTER III ......................................................................................................................................... 30 ELECTRONIC REGISTRY OF SHAREHOLDERS.................................................................................... 30 Shareholder Registry ......................................................................................................................... 30 CHAPTER IV......................................................................................................................................... 31 DOCUMENT CUSTODY REGISTRY.................................................................................... 31 TITLE III............................................................................................................................................... 31 CEDEVAL OPERATIONS AND SERVICES...................................................................................... 31 CHAPTER I............................................................................................................................................ 31 DEPOSIT AND WITHDRAWAL OPERATIONS OF ISSUANCES AND SECURITIES ..................................... 31 Issuance or Securities Deposit Contract ................................................................................. 32 Securities Administration...................................................................................................................... 32 Deposit of issuances authorized for public offering, represented by book entries or by securities........................................................... 32 Deposit of securities belonging to issuances authorized for public offering and that are represented by means of securities.................................................. 32 Deposit of securities not registered with the Superintendence, represented by book entries or by securities............................................................................................ 33 Deposits and Withdrawals................................................................................................................................ 33 Withdrawal of Issuances and Book Entries ................................................................................ 33 Withdrawal of Issuances and Book Entries from Abroad......................................................... 34 Documentary Archive ............................................................................................................................... 35 CHAPTER II .......................................................................................................................................... 35 CUSTODY OPERATIONS ............................................................................................................ 35 Custody ................................................................................................................................................ 35 Securities Custody ..................................................................................................................... 35 Document Custody ...................................................................................................................... 35 CHAPTER III ......................................................................................................................................... 36 OPERATIONS WITH THE CENTRAL BANK AND THE STATE......................................... 36 Delegation by the Central Bank ........................................................................................ 36 Instrumentation of the Delegation.......................................................................................................... 36 Applicable Legal and Regulatory Regime ................................................................................................... 36 Duties of CEDEVAL........................................................................................................................... 36

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General Internal Regulation	CEDEVAL
Approved by the Board of Directors in session JD-02/2022 dated 02/22/2022	Version: 01

Accounts of the Central Bank and the State ............................................................................ 37 CHAPTER IV ......................................................................................................................................... 37 SERVICES RELATED TO THE DEPOSITORY RECORDS .......................................... 37 Account Statements................................................................................................................................ 37 Designation of Beneficiaries ................................................................................................................ 37 Exchange of Securities and Share Certificates..................................................................................... 38 Amortization of Securities......................................................................................................................... 38 Representation in the Exercise of Rights ......................................................................................... 38 Representation of Social Rights............................................................................................. 39 Liquidation of Economic Rights ................................................................................................... 39 Deposit of Securities Not Registered for Public Offering ............................................... 39 Encumbrances on Securities .................................................................................................................. 39 Pledge on Securities............................................................................................................................ 40 Seizures on Securities ...................................................................................................................... 40 Other Encumbrances ................................................................................................................................ 41 Non-seizability of Securities in Administration..................................................................................... 41 Types of Documents Issued by CEDEVAL................................................................................... 41 Documentation Formats ................................................................................................................. 42 Legitimation Statements ................................................................................................................. 42 Certificates of Book-Entry Securities .......................................................................................................... 43 CHAPTER V .......................................................................................................................................... 43 COLLATERAL ADMINISTRATION ..................................................................................................... 43 Registration and Inscription of Collateral ................................................................................................ 43 Types of Collateral ................................................................................................................................ 43 Receipt and Return of Documents .............................................................................................. 44 Representation of Collateral Beneficiaries...................................................................................... 44 Execution of Collateral..................................................................................................................... 45 TITLE IV .............................................................................................................................................. 45 CLEARING AND SETTLEMENT ...................................................................................................... 45 CHAPTER I............................................................................................................................................ 45 CLEARING AND SETTLEMENT SYSTEM................................................................................ 45 Clearing and Settlement System of Operations.................................................................... 45 Guiding Principles of the System............................................................................................................ 46 Stock Exchange Clearing Process of Operations ............................................................................. 46 Settlement Process of Operations ............................................................................................... 47 Procedure in Case of Defaults........................................................................................... 47 CHAPTER II .......................................................................................................................................... 47 OPERATIONS PERFORMED IN THE STOCK EXCHANGE TRADING SYSTEMS .................... 47 Agreements and Contracts with Related Institutions......................................................................... 47 Relationship with a Stock Exchange....................................................................................................... 48 Relationship with other Institutions ............................................................................................................ 48

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General Internal Regulation	CEDEVAL
Approved by the Board of Directors in session JD-02/2022 dated 02/22/2022	Version: 01

TITLE V ............................................................................................................................................... 48 INTERNATIONAL OPERATIONS ................................................................................................... 48 CHAPTER I............................................................................................................................................ 48 OPERATIONS WITH FOREIGN SECURITIES................................................................................. 48 CHAPTER II .......................................................................................................................................... 49 FOREIGN STOCK EXCHANGE INTERMEDIARIES ............................................................................... 49 Remote Operators ............................................................................................................................ 49 Remote Operations............................................................................................................................ 49 CHAPTER III ......................................................................................................................................... 50 INTERNATIONAL CUSTODY CONTRACTS.................................................................................. 50 TITLE VI .............................................................................................................................................. 50 ELECTRONIC TRANSACTION SYSTEMS ...................................................................................... 50 SINGLE CHAPTER ................................................................................................................................. 50 ELECTRONIC SIGNATURE ........................................................................................................................ 50 Communications and Electronic Signature .................................................................................................... 50 Information Systems........................................................................................................................ 51 TITLE VII ............................................................................................................................................. 51 RISK MANAGEMENT AND INSTITUTIONAL CONTROL SYSTEMS.................................... 51 CHAPTER I............................................................................................................................................ 51 INTEGRAL RISK MANAGEMENT SYSTEM ................................................................................ 51 CHAPTER II .......................................................................................................................................... 52 INTERNAL CONTROL SYSTEM....................................................................................................... 52 Internal Control Function .................................................................................................................... 52 Head of Internal Control............................................................................................................... 52 Head of Systems Audit................................................................................................. 53 CHAPTER III.......................................................................................................................................... 53 CYBERSECURITY AND BUSINESS CONTINUITY MANAGEMENT SYSTEM...................... 53 Cybersecurity, Information Security and Business Continuity ............................................. 53 CHAPTER IV ......................................................................................................................................... 54 MONEY LAUNDERING AND ASSET PREVENTION SYSTEM AND .......................................... 54 TERRORISM FINANCING .................................................................................................. 54 Money Laundering and Asset Risk Management and Terrorism Financing .............................................. 54 Terrorism.............................................................................................................................................. 54 Responsible for the AML/CFT Prevention Function............................................................................. 55 Information Requirements................................................................................................................ 55 TITLE VIII ............................................................................................................................................ 55 FINAL PROVISIONS ................................................................................................................... 55 SINGLE CHAPTER ................................................................................................................................. 55 FEES, COMMISSIONS, SURCHARGES AND PENALTIES.................................................................... 55 Transparency in the Establishment of Commissions............................................................................ 55 Commissions ............................................................................................................................................ 56 Contractual Information for Users ............................................................................................ 56

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General Internal Regulation	CEDEVAL
Approved

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