Circular Letter CVM/SIN 03/02

CIRCULAR LETTER/CVM/SIN/No. 003/02.
Rio de Janeiro, May 07, 2002.
Subject: Submission of documents on electronic media – Extension of the deadline for the start of the mandatory use of the new CVMweb system

Dear Director,

We refer to CIRCULAR LETTER/CVM/SIN/No. 001/02, of February 18, 2002, which informed about the start of operations of a new system, named by us CVMweb, developed for the receipt and processing of information related to investment funds, portfolios of non-resident investors, and registration and portfolio of providers of securities portfolio administration services. The aforementioned CIRCULAR LETTER determined that, from May 13, 2002, the use of CVMweb would become mandatory for all resource administrators, and the delivery of due documents through the CVM protocol would no longer be accepted.

2. Considering the effort developed by the computer systems areas of financial institutions to make the start of the operation of the new Brazilian Payment System viable and the various requests made to the CVM to postpone the start of the mandatory use of CVMweb, the deadline for the compulsory use of CVMweb is extended to July 15, 2002.

3. From this date, the sending of the documents listed below through the new system will become mandatory, which will cease to be accepted by the CVM protocol:

USER TYPE	Frequency	DOCUMENT NAME
Investment Funds	Monthly	Statement of sources and applications of resources
Investment Funds	Monthly	Statement of composition and diversification of applications
Investment Funds	Monthly	Monthly balance sheets
Investment Funds	Semi-annual	Semi-annual balance sheet
Investment Funds	Semi-annual	Semi-annual report of investment funds
Investment Funds	Occasional	Changes to prospectuses and fund regulations
Non-Res. Investors	Monthly	Report by account holder of non-resident investors
Non-Res. Investors	Semi-annual	Report of non-resident investors by passenger

4. Representatives of non-resident investors must continue to send the document "Consolidated monthly report of non-resident investor portfolios" until July 05, 2002, together with the file with the position of the holder portfolios in the old format (via email). To do so, they must access the CVM website and continue using the representative's CNPJ and the old password. From August 07, 2002, the sending of this document will be replaced by the "Monthly report by account holder of non-resident investors", in XML format, which will be mandatorily delivered via CVMweb.

5. The document "Semi-annual report of non-resident investors by passenger", mentioned in item 3 above, will only be required from the position of December 31, 2002 and will be the subject of a specific CIRCULAR LETTER, in which the necessary information for its completion and delivery deadlines will be provided.

6. Finally, we remain at your disposal for clarification of any doubts through the email cvmweb@cvm.gov.br.

Sincerely,

Original Signed By:
CARLOS EDUARDO P. SUSSEKIND
Superintendent of Institutional Investor Relations

Contact CVM

Rio de Janeiro, December 19, 2002.

Dear CVMweb System Users,

Complementing CIRCULAR LETTER/CVM/SIN/No. 003/2002 (http://www.cvm.gov.br/port/atos/oficios/OFICIOCIRCULARCVMSIN032002.asp), we alert you to the start, from December 31, 2002, of the mandatory submission of the report of non-resident investors BY PASSENGER.

The report of non-resident investors BY PASSENGER is a semi-annual document, due until the 15th day of the month following the end of the semester. Therefore, the report with the position of December 31, 2002 must be sent until January 15, 2003.

The report of non-resident investors BY PASSENGER contains individual and detailed data of the portfolios of non-resident investors. Thus, when the value of the field SHARES is informed, it is necessary to specify (through the share code in the CVM ASSETS Registry http://www.cvmdmz.cvm.gov.br/SWB/Sistemas/SCW/CPublica/CPublicaAtivos.asp ) which shares compose the portfolio of the investor being reported. This document is mandatory for all investors (passengers) who make up a collective account and for the holders of their own accounts.

This report can be sent either by directly filling out a CVMweb form or by uploading a file with a format defined in the XML standard.

The XML file can contain reports of several passengers, provided that they are of the same competence (month/year) and that they are associated with the same representative. To send reports of different competence dates or representatives, it is necessary to create and send more than one file.

Sincerely,
CVM / CVMweb System