Circular Letter CVM/SIN 01/25

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – ZIP Code: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br Circular Letter No. 1/2025/CVM/SIN Rio de Janeiro, January 2, 2025. To Representatives of non-resident investors Subject: New operational dynamics for obtaining registration and CPF for non-resident investors exempt from CVM registration under the terms of CVM Resolution No. 13

1. In response to Circular Letter No. 8/2024/CVM/SIN, published on December 3, 2024, we communicate the following additions to the aforementioned circular letter:

2. It is necessary to clarify that the sole paragraph of Article 2 of CVM Resolution No. 13 applies to non-resident natural person investors, including when they are participants in a collective account, such that they do not depend on any type of registration or authorization from the Regulatory Agency to operate.

3. While the operational system of Circular Letter No. 9/2023/CVM/SIN is in effect, a fictitious operational code may also be used for non-resident natural person investors who are participants in a collective account. Such investors may be linked to a fictitious account with code 000000, which will contain the designation “Collective account for simplified registration of non-resident natural person investors (INR).”

4. Additionally, we inform that the joint workshop by B3 and CVM for the presentation of the new dynamics has been postponed to February 2025.

Sincerely,
Digitally signed by
MARCO ANTONIO VELLOSO DE SOUSA
Superintendent of Institutional Investor Supervision - SIN