RegAlert

Rule · CVM · 5 Jul 2023

Circular Letter CVM/SIN 04/23

securities

The CVM clarifies that the CNPI certification and its variations (CNPI-T and CNPI-P) are recognized as valid for obtaining accreditation as a Securities Analyst under Resolution CVM No. 20/2021, despite not being listed in Annex A. This recognition applies because Annex A lists certifications other than those already approved by the CVM, such as those issued by authorized entities like APIMEC. The CNPI certifications are organized and maintained by the Associação dos Analistas e Profissionais de Investimento do Mercado de Capitais – APIMEC Brasil.

BrazilComissão de Valores Mobiliários

SECURITIES COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – CEP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br Circular Letter No. 4/2023/CVM/SIN Rio de Janeiro, July 5, 2023

To
Securities Analysts

Subject: Interpretation of certifications admitted for the accreditation of securities analysts - CVM Resolution No. 20/2021

  1. This Circular Letter aims to provide clarifications on the certifications admitted for the exercise of the regulated activity of securities analysis, in accordance with CVM Resolution No. 20/2021, arising from questions raised by market participants, particularly candidates for the certification exams provided for in Annex A of that Resolution, regarding the recognition of the CNPI certification and its variations (CNPI-T and CNPI-P) as valid for the purpose of obtaining accreditation as a Securities Analyst.

  2. As is known, such certifications do not appear in the list of certifications contained in Annex A of the Resolution.

  3. However, we clarify that the objective of Annex A was to list the other certifications admitted for the accreditation of the securities analyst, apart from those already admitted and approved, specifically by the CVM itself under article 5, IV, of the Resolution (that is, issued by an accrediting entity specifically authorized by the Autarchy, as in the case of APIMEC).

  4. Thus, we clarify that the CNPI certification and its variations (CNPI-T and CNPI-P) are also recognized as certifications capable of testing the technical capacity of those interested in obtaining accreditation as a Securities Analyst, in compliance with CVM Resolution No. 20/2021.

  5. Additionally, we inform that the CNPI certification and its variations (CNPI-T and CNPI-P) are currently organized and maintained by the Associação dos Analistas e Profissionais de Investimento do Mercado de Capitais – APIMEC Brasil.

Sincerely,

Digitally signed by
DANIEL WALTER MAEDA BERNARDO
Superintendent of Institutional Investor Supervision

Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.

Annotations and obligations
1 permission · 1 definition
  • Permission 1
  • Definition / condition 1
  • background, boilerplate

More like this from CVM

CVM published 2 documents in the last 30 days. We email you each new one the day it's published.

Source: Comissão de Valores Mobiliários — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

In RegAlert: added · updated