CVM Instruction No. 405 of February 27, 2004 (Revoked)

FULL TEXT OF CVM INSTRUCTION NO. 405, OF FEBRUARY 27, 2004, WITH AMENDMENTS INTRODUCED BY CVM INSTRUCTION NO. 407/04.

CVM INSTRUCTION NO. 405, OF FEBRUARY 27, 2004.

Provides for the submission of information and registration with the CVM of the investment funds specified herein.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on February 17, 2004, in view of the provisions of Art. 2, item IX, and Art. 8, item I, of Law No. 6.385, of December 7, 1976, as amended by Law No. 10.303, of October 31, 2001, HAS RESOLVED to issue the following Instruction:

Art. 1. The commencement of activities, closure, transformation, spin-off, incorporation, merger, and registration changes of financial investment funds, funds applying in shares of investment funds, both regulated by BACEN Circular No. 2.616, of September 18, 1995, and investment funds abroad, regulated by BACEN Circular No. 2.714, of August 28, 1996, shall, from April 5, 2004, be communicated exclusively to the CVM through the Commission's information reception system on the World Wide Web, in substitution for the current communication system offered by the Central Bank of Brazil.

§1. The deadline for communication to the CVM of the events cited in the main text is 1 (one) business day, counted from its occurrence.

§2. The fund will only be registered with the CVM from the communication of the commencement of its activities, as indicated.

§3. When communicating the commencement of activities, the administrator must send the current regulations and prospectus of the fund, whenever the latter exists, through the system referred to in the main text.

Art. 2. Financial investment funds, funds applying in shares of investment funds, both regulated by BACEN Circular No. 2.616, of September 18, 1995, investment funds abroad, regulated by BACEN Circular No. 2.714, of August 28, 1996, mutual privatization funds – FGTS, and mutual privatization funds – FGTS free portfolio, regulated by CVM Instruction No. 279, of May 14, 1998, investment funds in securities and investment funds in shares thereof, regulated by CVM Instruction No. 302, of May 5, 1999, shall, from April 5, 2004, submit through the information system referred to in the previous article, the following documents:

I – Daily Report, according to the model attached to this Instruction, daily and within 2 (two) business days after the day to which the information refers;

II – Balance Sheet, according to COS 4010 format of COSIF – Chart of Accounts of Financial Institutions, monthly and within 15 (fifteen) business days after the end of the month to which they refer;

II – Balance Sheet, according to COS 4010 format of COSIF – CHART OF ACCOUNTS OF THE NATIONAL FINANCIAL SYSTEM INSTITUTIONS, monthly and within 15 (fifteen) days after the end of the month to which it refers;

• Item II with wording given by CVM Instruction No. 407, of May 10, 2004.

III – Current regulations of funds in operation as of April 4, 2004, within 60 (sixty) days counted from the publication of this Instruction, and whenever there is an alteration thereof, within 10 (ten) days counted from the assembly that deliberated on the alteration; and

IV – Current prospectus of funds in operation as of April 4, 2004, if any, within 60 (sixty) days counted from the publication of this Instruction, and whenever there is an alteration thereof, within 10 (ten) days counted from its alteration.

Sole Paragraph. Institutions shall, within 60 (sixty) days counted from the publication of this Instruction, have systems that allow reporting the optional fields of the document referred to in item I, relating to any period requested by the CVM, within a maximum of 2 (two) business days.

Art. 3. The Daily Report document replaces the daily information currently required by current regulations.

§1. From the communication of the commencement of activities of the fund, the Daily Report must be sent to the CVM, even in the event that all values are null.

§2. The other periodic information and documents required by the specific regulations of each type of fund remain unchanged.

Art. 4. Only the weekly information, currently required from financial investment funds and investment funds abroad, shall continue to be sent directly to the Central Bank of Brazil.

Art. 4. Financial investment funds, funds applying in shares of investment funds, both regulated by BACEN Circular No. 2.616, of September 18, 1995, investment funds abroad, regulated by BACEN Circular No. 2.714, of August 28, 1996, shall, from June 1, 2004, submit electronically, through the information reception system referred to in Art. 1, the statement of composition and diversification of applications, according to file specifications available on the Commission's page on the World Wide Web.

§1. The statement must be sent monthly to the CVM and within 15 (fifteen) days after the end of the month to which it refers.

§2. The statement of composition and diversification of applications replaces the weekly information required from financial investment funds and investment funds abroad.

§3. The weekly information, referred to in the previous paragraph, is due only until the position of May 28, 2004, and will continue to be sent directly through the systems currently provided by the Central Bank of Brazil.

• Article with wording given by CVM Instruction No. 407, of May 10, 2004.

Art. 5. Access to the information reception system, referred to in Art. 1 of this Instruction, will use the same password currently employed for the provision of information from other funds regulated by the CVM.

Art. 6. The fund administrator will pay a daily fine, in the amount of R$ 200.00 (two hundred reais), applicable from the first business day following the end of the deadline, due to non-compliance with the deadlines provided in this Instruction.

Art. 7. This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Signed original by
LUIZ LEONARDO CANTIDIANO
President

ANNEX TO CVM INSTRUCTION NO. 405, OF FEBRUARY 27, 2004 – DAILY REPORT

Daily Report

Fund Name:

CNPJ (Tax ID Number)

Reference Date: DD/MM/YYYY

total portfolio - in units of Real, with cents (R$ 1.00)

net asset value (PL) - in units of Real, with cents (R$ 1.00)

share value

captures - in units of Real, with cents (R$ 1.00)

redemptions - in units of Real, with cents (R$ 1.00)

number of shareholders

CPF/CNPJ of shareholder with application greater than or equal to 20% of the fund's Net Asset Value and respective participation %

CPF/CNPJ of shareholder with application greater than or equal to 20% of the fund's Net Asset Value and respective participation %

CPF/CNPJ of shareholder with application greater than or equal to 20% of the fund's Net Asset Value and respective participation %

CPF/CNPJ of shareholder with application greater than or equal to 20% of the fund's Net Asset Value and respective participation %

CPF/CNPJ of shareholder with application greater than or equal to 20% of the fund's Net Asset Value and respective participation %

Note: Fields marked with * must be reported only when requested by the CVM.