Circular Letter CVM/SIN 07/22

SECURITIES AND EXCHANGE COMMISSION
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – ZIP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br Circular Letter No. 7/2022/CVM/SIN Rio de Janeiro, September 9, 2022.
To
Applicants for registration as securities consultants Subject: Entry into force of the Securities Consultant Registration System (“REGCON”).

Dear Sirs,

1. The publication of this Circular Letter aims to announce the launch of the Securities Consultant Registration System (“REGCON”) in compliance with Art. 5 of CVM Resolution No. 19, which provides that an “application for authorization or recognition, as the case may be, to exercise the activity of securities consultant [must] be submitted to SIN electronically”.

2. Starting from September 16, 2022, individuals interested in obtaining registration as securities consultants will only be able to request their accreditation through the new system. Access will be via the link https://sistemas.cvm.gov.br/, then in CVMWeb System, option Update Registration. After logging in (which can be done using a GOV.BR account with silver or gold level), the option ‘Securities Consultant (Profile: Consultant)’ will be available in the left menu.

3. Once inside the system, the applicant, within the ‘Consultant Management’ menu, must choose the ‘Request Registration’ option, fill in the requested information, upload the required documents, and attest to the consistency and accuracy of the files being sent. On this occasion, a copy of the Union Collection Guide (GRU) for the initial inspection fee provided for in Law 7.940 and its respective proof of payment must also be sent.

4. The documents necessary to obtain registration for natural persons and legal entities are listed in Annexes B and C, respectively, of CVM Resolution No. 19. The GRU can be issued at the following link: https://cvmweb.cvm.gov.br/SAR/FormPesqGRU.aspx

5. According to Art. 6 of CVM Resolution No. 19, the granting of registration is “automatically granted as a result of the submission of documents and information referred to in art. 5”. Thus, registration is automatically granted after the applicant makes the request for their registration. The Institutional Investor Monitoring Management (“GAIN”) of the superintendence will perform subsequent verification to validate whether all documents listed in Annexes B or C were sent and whether the initial inspection fee was paid. Accreditations carried out in non-compliance with CVM Resolution No. 19 may be cancelled ex officio by GAIN, according to item III of article 10 of the aforementioned regulation.

SECURITIES AND EXCHANGE COMMISSION
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – ZIP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br

6. The new registration system does not affect the supervisory activities of Securities Consultants carried out by SIN, which will continue to be exercised based on the criteria established by the CVM’s Risk-Based Supervision Program.

7. The ‘Accreditation Guide and other information’ is available on the CVM website, on the page about Securities Consultants, with the step-by-step process for requesting registration.

8. In the coming months, other functionalities of the Consultant System will be available, such as consultation of registered consultants, issuance of registration regularity certificate, request for registration suspension, and request for registration cancellation.

9. For additional clarifications, we request contacting the Institutional Investor Monitoring Management - GAIN, via the electronic address gain@cvm.gov.br.

Sincerely,

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