Regulatory Alerts2024-12-20
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Circular 05-24 — Instruction for the Constitution, Registration, and Enforcement of Guarantees on Participation Quotas of Open or Mutual Investment Funds with Financial Intermediation Entities
The Superintendence of the Securities Market establishes the minimum requirements and procedures for the constitution, registration, and enforcement of guarantees on participation quotas of open or mutual investment funds held with financial intermediation entities. Investment fund administrator societies must update their internal policies and the register of contributors to reflect any encumbrances on quotas, ensuring these processes are approved by the regulator. The circular specifies the content requirements for contribution certifications and the execution mechanism for such guarantees, entering into force thirty (30) business days after publication.
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