Rule · CVM · 18 Aug 2017
This instruction amends Article 58 of CVM Instruction No. 578 to exempt specific investment funds from classification requirements under Article 14, provided they maintain the designation "Fundos de Investimento em Cotas de Fundos de Investimento em Participações" and allocate at least 90% of their assets to shares of Participation Investment Funds or Access Market Action Funds. This exemption applies only to funds that had already obtained operational registration by the date of publication. The instruction entered into force on the date of its publication.
SECURITIES AND EXCHANGE COMMISSION BOARD - CVM Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – CEP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br 1 CVM INSTRUCTION NO. 589, OF AUGUST 18, 2017 Amends provisions of CVM Instruction No. 578, of August 30, 2016.
The INTERIM PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION BOARD - CVM makes public that the Collegiate Board, in a meeting held on August 16, 2017, based on the provisions of Articles 2, V and IX, 8, I, 19, § 5, and 23, § 2, of Law No. 6.385, of December 7, 1976, APPROVED the following Instruction:
Art. 1st Article 58 of CVM Instruction No. 578, of August 30, 2016, shall be effective with the following wording:
“Art. 58 ......
......
§ 6th Investment Funds in Shares of Investment Funds in Participations that have already obtained operational registration by the date of publication of this Instruction are exempt from observing the classification established in Article 14, provided they maintain:
I – in their denomination the expression “Investment Fund in Shares of Investment Funds in Participations”; and II – at least, 90% (ninety percent) of their assets applied in shares of Investment Funds in Participations or Action Funds – Access Market.” (NR)
Art. 2nd This Instruction enters into force on the date of its publication.
Original signed by
PABLO WALDEMAR RENTERIA
Interim President
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This document amends: CVM Instruction No. 578 of August 30, 2016, as amended by CVM Instructions No. 589/17, 604/18, 609/19, and 615/19
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