CVM Instruction No. 455 of June 13, 2007

CVM INSTRUCTION NO. 455, OF JUNE 13, 2007
Includes mortgage companies among the entities authorized to administer real estate investment funds and amends CVM Instruction No. 205, of January 14, 1994.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION makes public that the Collegiate Body, in a meeting held on June 5, 2007, in view of the provisions of Article 3, item IV of Resolution No. 2,122, of November 30, 1994, and based on Article 5 of Law No. 8,668, of June 25, 1993,

HAS DECIDED to issue the following Instruction:

Article 1. Article 11 of CVM Instruction No. 205, of January 14, 1994, shall be effective with the following wording:

“Article 11. The administration of the Real Estate Investment Fund is the exclusive responsibility of commercial banks, multiple banks with investment or real estate credit portfolios, investment banks, securities brokerage firms or securities distribution companies, real estate credit societies, savings banks, and mortgage companies. ......” (NEW)

Article 2. This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Signed original by
MARCELO FERNANDEZ TRINDADE
President