Regulatory Alerts2014-10-25
Added · Updated
CVM Instruction No. 411 of November 26, 2004
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 411 to amend 36 articles of CVM Instruction No. 409, establishing new operational, disclosure, and investment rules for investment funds. The regulation introduces specific provisions for fund valuation, shareholder meeting procedures, risk classification, and restrictions on fund assets, including limits on concentration and permitted derivatives. It also clarifies the treatment of administration fees, custody services, and the rights of unitholders during fund restructuring or suspension of redemptions.
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