CVM Instruction No. 310 of July 9, 1999 (Revoked)

FULL TEXT OF CVM INSTRUCTION NO. 310, OF JULY 9, 1999, WITH AMENDMENT INTRODUCED BY CVM INSTRUCTION NO. 441/06.

CVM INSTRUCTION NO. 310, OF JULY 9, 1999

Establishes the obligations of custodians and sub-custodians of securities.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on this date, in view of the provisions of Arts. 8 and 24 of Law No. 6,385, of December 7, 1976, HAS DECIDED to issue the following Instruction:

ON SCOPE AND PURPOSE

Art. 1
This Instruction establishes the obligations of providers of securities custody services (custodians) and intermediary financial institutions (sub-custodians) that, through a contract with the custodian institution, perform custody services for their clients.

ON THE OBLIGATIONS OF CUSTODIANS AND SUB-CUSTODIANS

Art. 2
The periodic or extraordinary custody account statements must be sent to the address of the investor who is the account holder.

§1
Sending statements to the address of financial institutions is not permitted, except in cases of proprietary accounts, director and employee accounts, and fund and investment club accounts where the institution maintains discretionary management.

§2
In any case, the custody account must be identified in the name of its holder.

Art. 2
The periodic or extraordinary custody account statements must be sent to the address of the investor who is the account holder, except as provided in § 2 of Art. 9 of the Instruction that deals with the lending of securities by entities for the clearing and settlement of securities transactions.

• Article with wording given by CVM Instruction No. 441, of November 10, 2006.

Art. 3
Providers of custody services must ensure that their sub-custodians maintain adequate procedures for the security of custody positions.

Sole Paragraph. The investor's registration form must be completed in full, and the custodian or sub-custodian must keep attached:
I - for natural person investors, copies of their identity document, CPF registration card, and proof of residence, authenticated by an accredited employee; II - for legal entity investors, a copy of the respective contract, bylaws, or corporate charter registered with the competent authority and the CNPJ card, authenticated by an accredited employee.

CVM INSTRUCTION NO. 310, OF JULY 9, 1999
2

Art. 4
Reserved the competence of the CVM, entities for the clearing and settlement of securities transactions must ensure the regularity of the internal procedures of brokers and distributors, direct or indirect users of custody, through periodic inspections of the accounting books and records pertinent to the custody activity, without prejudice to the continuous control that must be exercised over the activities of these institutions.

ON PENALTIES

Art. 5
Non-compliance with the provisions of this Instruction constitutes a serious offense, for the purposes of § 3 of Art. 11 of Law No. 6,385, of December 7, 1976.

ON TRANSITORY PROVISION

Art. 6
This Instruction enters into force thirty days after its publication in the Official Gazette of the Union.

Original signed by
FRANCISCO DA COSTA E SILVA
President