CVM Instruction No. 611, of August 15, 2019, Amending CVM Instruction No. 308

SECURITIES AND EXCHANGE COMMISSION
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Centro, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM INSTRUCTION NO. 611, OF AUGUST 15, 2019 Amends CVM Instruction No. 308, of May 14, 1999. THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Board, in a meeting held on August 7, 2019, based on the provisions of arts. 1, item VII, 22, § 1, item IV and 26, §§ 1 and 2, of Law No. 6,385, of December 7, 1976, APPROVED the following Instruction:
Art. 1 Articles 11, 25, 31, 31-A and 31-C of CVM Instruction No. 308, of 1999, shall come into force with the following wording:
“Art. 11 The registration, in the category of Independent Auditor - Individual, of an accountant who is a partner, director or technical responsible or who has a professional relationship of any nature with an Independent Auditor - Legal Entity will not be permitted.
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Art. 25 ......
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a) whether the financial statements and the audit report were disclosed in the communication channels where their publication is mandatory and whether these correspond to the audited financial statements and the originally issued report;
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IX- in cases of using the prerogative provided for in the caput of art. 31-A, to evaluate and document in their work papers the fulfillment of the installation, composition and functioning requirements provided for in arts. 31-A, 31-B and 31-C, as well as, after that evaluation, to document with reasons the resignation from the audit work when they conclude that there are non-conformities with the normative requirements.

SECURITIES AND EXCHANGE COMMISSION
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Centro, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM INSTRUCTION N o 611, OF AUGUST 15, 2019 2
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Art. 31 The Independent Auditor - Individual and the Independent Auditor - Legal Entity cannot provide services to the same client for a period exceeding five consecutive fiscal years, requiring a minimum interval of three fiscal years for their re-engagement. Art. 31-A The term established in art. 31 of this Instruction is up to 10 (ten) consecutive fiscal years if:
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§ 1 For the use of the prerogative provided for in the caput, the CAE must have been installed and be fully operational by the end of the third fiscal year counting from the engagement of the independent auditor, and remain operational after the said date and while using the aforementioned prerogative. § 2 If the prerogative provided for in the caput is adopted, the independent auditor must rotate the technical responsible, director, manager, and any other member of the audit team with a management function, for a period not exceeding 5 (five) consecutive fiscal years, with a minimum interval of 3 (three) fiscal years for their return.
Art. 31-C ......
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§ 2 ......
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a) ......

SECURITIES AND EXCHANGE COMMISSION
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Centro, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM INSTRUCTION N o 611, OF AUGUST 15, 2019 3 b) partner, technical responsible or member of the work team of the Independent Auditor – Legal Entity; and” (NR) Art. 2 This Instruction comes into force on the date of its publication. Originally signed by MARCELO BARBOSA President