Circular Letter CVM/SIN 01/05

CIRCULAR LETTER/CVM/SIN/No. 001/2005.
Rio de Janeiro, January 11, 2005.
Subject: Adaptation of investment funds to CVM Instruction No. 409, of 08/18/2004 - Exceptional change of deadline for sending the "Fund Information Extract" and "Monthly Profile" documents.

Dear Sir,

Considering suggestions presented by the National Association of Investment Banks - ANBID and the need to adapt the information systems of this Commission to meet the requests of that Association, we clarify that the Board of this CVM, in a meeting on 01/11/2005, approved the following measures:

1. The "Fund Information Extract" document will now have a standard XML format for electronic submission. The XML standard will be available shortly for consultation on the CVM's Internet page (Sending of documents > File Standards - XML and Others > Fund Information Extract). The date of publication of the standard will be informed by a new Circular Letter;

2. The administrator who chooses to send the document cited in item 1 in the form of filling out the electronic form instead of using the XML standard may use the form from January 12, 2005, as communicated in CIRCULAR LETTER/CVM/SIN/No. 005/2004, of 12/27/2004;

3. In the case of both new investment funds, already registered under the rules of CVM Instruction No. 409, and funds in operation that complete the adaptation process and whose regulations are in force within 15 days counted from the date of publication of the XML standard cited in item 1, the first submission of the "Fund Information Extract" document will only be required, both for form filling and for XML submission, exceptionally, after 30 days have elapsed from the publication of the XML standard mentioned in item 1, regardless of the date of entry into force of the fund's regulations;

4. For funds in operation and in the process of adaptation, whose adapted regulations under the rules of CVM Instruction No. 409 enter into force after 15 days from the publication of the XML standard, and for new funds registered from that date, the administrator will have a deadline of 15 days, counted, exceptionally, from the date of entry into force of the new regulation, for the submission of the "Fund Information Extract", both via form and via standard XML file;

5. The first submission of the "Monthly Profile" document, mandatory for new funds and those already adapted to Instruction 409, had its deadline of 01/31/2005, referred to in item 3 of CIRCULAR LETTER/CVM/SIN/No. 005/2004, changed and will only be required from February 28, 2005. That is, the reference months - Dec/2004, Jan/2005, and Feb/2005 - exceptionally in this adaptation phase - must be submitted by 03/10/2005.

Sincerely,

Original signed by
CARLOS EDUARDO P. SUSSEKIND
Superintendent of Institutional Investor Relations