Circular Letter No. 3967 — Establishes Procedures for Remitting Information on Investment Fund Unitholders

The Head of the Department of Financial System Monitoring (Desig), using the authority granted by Article 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, based on Article 77, items III and IV, of said Regulations, and considering the provisions of Circular No. 3,945, of June 12, 2019,

RESOLVES:

Article 1. The remittance of the information referred to in Article 1 of Circular No. 3,945 of 2019 must be carried out monthly by investment fund administrators and by financial institutions that act, according to the form regulated by the Securities and Exchange Commission (CVM), as distributors of fund shares on behalf and order of clients, starting from the month of June 2020, through the following documents:

I – Document 5401 - Information on Fund Unitholders – Data sent by investment fund administrators, containing:

a) regarding the investment fund:

1. fund identification;

2. fund net asset value;

3. number of fund shares;

4. number of fund unitholders;

b) regarding the unitholders:

1. unitholder identification, or distributor on behalf and order, or central depository if the share is traded on a stock exchange;

2. unitholder classification;

3. share type;

4. number of shares held by the unitholder;

5. value of the shares.

II – Document 5402 - Information on Fund Unitholders – Data sent by financial institutions distributing fund shares, containing:

a) regarding the investment fund:

1. fund identification;

2. number of fund shares distributed on behalf and order by the sending distributor;

3. number of unitholders holding fund shares distributed on behalf and order by the sending distributor;

b) regarding the unitholders:

1. unitholder identification;

2. unitholder classification;

3. share type;

4. number of shares held by the unitholder;

5. value of the shares.

Article 2. The institutions mentioned in Article 1 must indicate an employee qualified to answer any questions regarding the information provided under this Circular Letter.

Article 3. Financial institutions authorized to act as distributors of fund shares on behalf and order of clients, but which do not exercise this activity, must register the waiver of remittance of Document 5402, informing the “start base date” in the “Document” menu, “Waiver” option of the Document Remittance Control System (CRD), available for access on the Central Bank of Brazil website at the electronic address https://www3.bcb.gov.br/crd.

Sole Paragraph. The financial institutions referred to in the caput that begin to act as distributors of fund shares on behalf and order of clients must register the “End base date” in the “Document” menu, “Waiver” option of the CRD. From the following base date, these institutions must begin remitting Document 5402.

Article 4. This Circular Letter enters into force on the date of its publication, observing the schedule established in Article 3 of Circular No. 3,945, of June 12, 2019.

Gilneu Francisco Astolfi Vivan

Annex to Circular Letter No. 3,967, of August 02, 2019.

Document coding and characteristics:

Document Codes: 5401 and 5402

Document Names:

5401 - Information on Fund Unitholders – Data sent by investment fund administrators

5402 - Information on Fund Unitholders – Data sent by financial institutions distributing fund shares

Remittance Frequency: monthly

Submission Deadline: by the fifth business day of the month following the base date.

Base Date: last business day of each month.

Responsible Unit for Curation: Desig

Remittance Method: electronic means

System for Remittance: Electronic File Transfer System (STA), as per Circular Letter No. 3,588, of March 18, 2013, available on the Central Bank of Brazil website at the address https://sta.bcb.gov.br/sta/.

Remittance Format: XML (eXtensible Markup Language)

Remittance Validation: advance

Remittance Validation Scheme: XSD (XML Schema Definition)

Additional Elements for Remittance: layout, in XML format; models, in Excel format; XSD validation schemes; example files; validator program; and filling instructions, available on the Central Bank of Brazil website at the address http://www.bcb.gov.br/?LEIAUTES.

Employee Indication to Answer Inquiries: in the header of the respective remittance document

Electronic Address for Resolving Doubts Regarding Remittance and Document Filling: informacoescotistas@bcb.gov.br