Circular Letter No. 8/2024/CVM/SIN

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
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. 8/2024/CVM/SIN Rio de Janeiro, December 3, 2024.
To
Representatives of non-resident investors
Subject: New operational dynamics for obtaining registration and CPF for non-resident investors exempt from registration with the CVM under the terms of CVM Resolution No. 13

1. B3, in partnership with the Securities and Exchange Commission of Brazil (CVM), will begin generating a fictitious document of the CVM code type for non-resident natural persons who are exempt from obtaining registration with the CVM, as provided for in CVM Resolution 64/22, which amended CVM Resolution 13/20.

2. Although obtaining this document is exempt for natural person investors, market infrastructures and B3 still use the operational CVM code. For this reason, B3 is developing a new functionality to meet this demand.

3. To ensure investor uniqueness, the key document for obtaining the fictitious document from B3 will be the CPF, which will become a mandatory document for the registration of non-resident natural persons. Based on the CPF, the system will verify if this information already exists in SINCAD and initiate the process of generating the fictitious document. If the investor does not have a CPF, this document will be requested through the integration between B3 and CVM.

4. B3 will make the new functionality available through an API and through the SINCAD screen.

5. We understand that this new operational dynamic clearly shows that the aforementioned code no longer corresponds, since the issuance of CVM Resolution No. 64, to any type of CVM registration for non-resident investors classified as natural persons, since they no longer depend, since then, on any type of registration or authorization from the Agency to operate.

6. The CVM will maintain the current method for generating the fictitious document for a period of 30 days after the implementation of B3's new functionality. It is important to note that for those who opt to maintain a conventional inclusion of a passenger in a collective account, the CVM will continue to be responsible for generating the operational CVM code, as per Circular Letter 9/2023/CVM/SIN.

7. A workshop is planned for January 2025, as a joint initiative of the CVM with B3, to present the project and clarify doubts.

8. Additional clarifications can be obtained directly from B3, through the Superintendent of Registration of Participants and Investors, by phone (11) 2565-5072 or by email cadastro@b3.com.br.

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
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 Sincerely, Digitally signed by MARCO ANTONIO VELLOSO DE SOUSA Superintendent of Supervision of Institutional Investors - SIN