CVM Resolution No. 24 of March 5, 2021, as amended by Resolutions CVM No. 40/21, 66/22, 159/22, 177/23, 179/23, 186/23, 201/24, 203/24, 220/24, 228/25, 233/25, 239/26, 241/26, 243/26 and 246/26

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, 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 RESOLUTION NO. 24, OF MARCH 5, 2021, WITH THE CHANGES INTRODUCED BY CVM RESOLUTIONS NO. 40/21, 66/22, 159/22, 177/23, 179/23, 186/23, 201/24, 203/24, 220/24, 228/25, 233/25, 239/26, 241/26, 243/26 AND 246/26. Approves the Internal Regulations of the Securities and Exchange Commission.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Body, in a meeting held on February 23, 2021, based on art. 6 of Decree No. 8.965, of January 19, 2017, in § 7 of art. 6 of Law No. 6.385, of December 7, 1976 and in § 2 of art. 11 of Ordinance No. 327 of the Ministry of Finance, of July 11, 1977, APPROVED the following Resolution:

Art. 1 The Internal Regulations of the Securities and Exchange Commission are hereby approved, in the form of the Annexes to this Resolution.

Art. 2 This Resolution enters into force on April 1, 2021.

Signed electronically by
MARCELO BARBOSA
President

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
ANNEX I – INTERNAL REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION

CHAPTER I – NATURE, HEADQUARTERS AND PURPOSE

Art. 1 The Securities and Exchange Commission (CVM), created by Law No. 6.385, of December 07, 1976, is an autonomous entity under a special regime, linked to the Ministry of Economy, with its own legal personality and assets, endowed with independent administrative authority, absence of hierarchical subordination, fixed mandate and stability of its directors, and financial and budgetary autonomy, with headquarters and jurisdiction in the city of Rio de Janeiro, State of Rio de Janeiro, and jurisdiction throughout the national territory.

Sole Paragraph. The CVM may maintain administrative units in other locations, with an indefinite duration and acting throughout the national territory.

Art. 2 The CVM has the following purposes:
I – stimulate the formation of savings and its application in securities; II – promote the expansion and efficient and regular functioning of the stock market, and stimulate permanent applications in shares of the social capital of open companies under national private capital control; III – ensure the efficient and regular functioning of the exchange and over-the-counter markets; IV – protect holders of securities and market investors against:
a) irregular issuance of securities; b) illegal acts of administrators and controlling shareholders of open companies, or of administrators of securities portfolios; and c) the use of undisclosed relevant information in the securities market; V – avoid or curb modalities of fraud or manipulation intended to create artificial conditions of demand, supply or price of securities traded in the market; VI – ensure public access to information about the securities traded and the companies that issued them; VII – ensure the observance of fair commercial practices in the securities market; and

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
VIII – ensure the observance, in the market, of the credit utilization conditions established by the National Monetary Council.

Art. 3 The CVM's competencies are established in Law No. 6.385, of December 07, 1976, in Law No. 6.404, of December 15, 1976, and in the other applicable legal and regulatory provisions.

CHAPTER II – ORGANIZATIONAL STRUCTURE

Art. 4 The CVM has the following organizational structure:
I – collegiate body:

Collegiate Body – COL;
II – organs of direct and immediate assistance to the President:
Office of the Presidency – CGP:
1.1. Executive Management – EXE;
Social Communication Advisory – ASC; and
Economic Analysis and Risk Management Advisory – ASA:
Economic Analysis, Risk Management and Integrity Advisory – ASA;

Item 3 with wording given by CVM Resolution No. 186, of July 14, 2023.
3.1. Data Science Development Center – CCD;
3.1 REVOKED
Item 3.1 revoked by CVM Resolution No. 159, of July 8, 2022.
3.2. Studies and Research Management – GEPE;
3.3. Risk Management Sector – SEGER;
Items 3.2 and 3.3 included by CVM Resolution No. 243, of May 20, 2026.
III – sectional organs:

Internal Audit – AUD;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
1.1. Inspectorate Sector – COR;

Subitem 1.1 with wording given by CVM Resolution No. 203, of May 23, 2024.
Subitem 1.1 revoked by CVM Resolution No. 239, of January 9, 2026.

Specialized Federal Attorney’s Office – PFE:
2.1. Legal Subprocuratorship 1 – GJU-1;
2.2. Legal Subprocuratorship 2 – GJU-2;
2.3. Legal Subprocuratorship 3 – GJU-3; and
2.4. Legal Subprocuratorship 4 – GJU-4; and
2.3. Legal Subprocuratorship 3 – GJU-3;
2.4. Legal Subprocuratorship 4 – GJU-4; and

Subitems 2.3 and 2.4 with wording given by CVM Resolution No. 66, of March 4, 2022.
2.5. Legal Control and Support Section – CAJ; and
2.5. Legal Control and Support Sector – CAJ;
2.5. Legal Control and Support Center – CAJ;
Subitem 2.5 with wording given by CVM Resolution No. 186, of July 14, 2023.
Subitem 2.5 with wording given by CVM Resolution No. 239, of January 9, 2026.

Administrative-Financial Superintendence – SAD:
3.1. Collection and Collection Management – GEARC;
3.2. Controller and Accounting Management – GECON;
3.3. Budgetary and Financial Execution Management – GEOFI;
3.4. Human Resources Management – GEGEP;
3.4 REVOKED

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Subitem 3.4 revoked by CVM Resolution No. 186, of July 14, 2023.
3.5. Bidding and Contracts Management – GELIC;
3.6. Maintenance and Asset Administration Management – GEMAP;
3.7. Training and Human Development Division – DICAD; and
3.7 REVOKED
Subitem 3.7 revoked by CVM Resolution No. 186, of July 14, 2023.
3.8. Maintenance and Asset Administration Division – DIMAP;
3.8. Maintenance and Asset Administration Division – DIMAP; and
Subitem 3.8 with wording given by CVM Resolution No. 186, of July 14, 2023.
3.9. Information Management Division – DINF;
Subitem 3.9 included by CVM Resolution No. 186, of July 14, 2023

Human Resources Management Superintendence – SGP:
4.1. Human Development Management – GEDEP;
4.2. Registration and Recruitment Management – GECAD
4.3. Remuneration and Retirement Management – GERAP; and
4.4. Service and Well-being Division – DOBEM;
4.2. Remuneration and Retirement Management – GERAP;
4.3. Service and Well-being Management – DOBEM; and
4.4. Functional Registration and Monitoring Division – DIRAF.

Item 4 and subitems included by CVM Resolution No. 186, of July 14, 2023
Subitems 4.2, 4.2 and 4.4 with wording given by CVM Resolution No. 201, of March 27, 2024
Item 4 and subitems revoked by CVM Resolution No. 203, of May 23, 2024.

Sectional Superintendence for Development and Institutional Modernization – SDE:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021 a) Intelligence Development Management - GDI;

Clause “a” included by CVM Resolution No. 233, of July 14, 2025.
Clause “a” revoked by CVM Resolution No. 239, of January 9, 2026.
b) Institutional Development Division – DDEIN;
Clause “b” included by CVM Resolution No. 243, of May 20, 2026.
Clause “b” revoked by CVM Resolution No. 246, of July 30, 2026.
3.1. Administrative-Financial Superintendence – SAD:
3.1.1. Collection and Collection Management – GEARC;
3.1.2. Controller and Accounting Management – GECON;
3.1.2. Accounting and Costs Management – GECON;
Subitem 3.1.2 with wording given by CVM Resolution No. 228, of April 16, 2025
3.1.3. Budgetary and Financial Execution Management – GEOFI;
3.1.4. Bidding and Contracts Management – GELIC;
3.1.4. Bidding Management – GELIC;
Subitem 3.1.4 with wording given by CVM Resolution No. 243, of May 20, 2026
3.1.5. Maintenance and Asset Administration Management – GEMAP;
3.1.6. Information Management Management – GINF;
Subitem 3.1.6 revoked by CVM Resolution No. 239, of January 9, 2026.
3.1.7. Maintenance and Asset Administration Division – DIMAP; and
3.1.8. Administrative Compliance and Governance Center – CCONF;
3.1.9. Administrative Contracts Division – DICON;
Subitem 3.1.9 included by CVM Resolution No. 243, of May 20, 2026.
3.2. Human Resources Management Superintendence – SGP:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
3.2.1. Human Development Management – GEDEP;
3.2.2. Remuneration and Retirement Management – GERAP;
3.2.3. Service and Well-being Management – DOBEM; and
3.2.4. Functional Registration and Monitoring Division – DIRAF;
3.2.4. Functional Registration and Monitoring Management –GERAF;

Subitem 3.2.4 with wording given by CVM Resolution No. 243, of May 20, 2026.
3.3. Information Technology Superintendence – STI:
3.3.1. Analytical Data Engineering Management – GDA;
Subitem 3.3.1 revoked by CVM Resolution No. 239, of January 9, 2026.
3.3.2. Systems Management – GSI;
3.3.3. Technology Management – GST;
3.3.4. Governance and Technology Management Division – DGOV; and
3.3.5. User Services and Solutions Division – DSSU;
3.3.6. Cybersecurity Division – DCIS;
Subitem 3.3.6 included by CVM Resolution No. 239, of January 9, 2026.
3.4. Planning and Innovation Superintendence – SPL:
3.4.1. Innovation, Projects and Processes Management – GEINP;
3.4.2. Institutional Strategy and Performance Management Division – DEGES; and
3.4.3. Government Planning and Budgeting Division – DIPOG;
3.5. Intelligence Development Superintendence - SDI;
3.5.1. Analytical Data Engineering Management - GDA;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
3.5.2 Intelligence Development Management - GDI;
3.5.3. Information Management Management - GINF; and
3.5.4. Data Governance and Protection Management - GDPO;
3.5.5. Financial Technology Division – DITEC;

Subitem 3.5.5 included by CVM Resolution No. 246, of July 30, 2026.

Inspectorate - COR
Ombudsman - OUV
5.1. Transparency and Information Access Division - DLAI;

Items 4 and 5 and subitems 3.5.1, 3.5.2, 3.5.3, 3.5.4 and 5.1 included by CVM Resolution No. 239, of January 9,

Item 3 and subitems altered by CVM Resolution No. 203, of May 23, 2024.
IV – specific singular organ:

General Superintendence – SGE:
a) General Processes Management – GGE;
1.1. Corporate Relations Superintendence – SEP:
1.1.1. Company Monitoring Management 1 – GEA-1;
1.1.2. Company Monitoring Management 2 – GEA-2;
1.1.3. Company Monitoring Management 3 – GEA-3;
1.1.4. Company Monitoring Management 4 – GEA-4; and
1.1.5. Company Monitoring Management 5 – GEA-5;
1.1.4. Company Monitoring Management 4 – GEA-4;
1.1.5. Company Monitoring Management 5 – GEA-5; and

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Subitems 1.1.4 and 1.1.5 with wording given by CVM Resolution No. 186, of July 14, 2023.
1.1.6. Incentivized Companies Monitoring Division – DAIN;
Subitem 1.1.6 included by CVM Resolution No. 186, of July 14, 2023
1.2. Securities Registration Superintendence – SRE:
1.2.1. Registration Management 1 – GER-1;
1.2.2. Registration Management 2 – GER-2; and
1.2.3. Registration Management 3 – GER-3;
1.2.4. Information and Systems Management Sector – SEGIS;
Subitem 1.2.4 with wording given by CVM Resolution No. 243, of May 20, 2026.
1.3. Institutional Investors Supervision Superintendence – SIN:
1.3.1. Funds Monitoring Management – GIFI;
1.3.2. Institutional Investors Monitoring Management – GAIN;
1.3.3. Sanctioners in Funds Management – GSAF; and
1.3.4. Investment Fund Inspections Section – SEFIS;
1.3.4. Investment Fund Inspections Sector – SEFIS;
Subitem 1.3.4 with wording given by CVM Resolution No. 186, of July 14, 2023.
1.4. Market and Intermediaries Relations Superintendence – SMI:
1.4.1. Market Monitoring Management 1 – GMA-1;
1.4.2. Market Monitoring Management 2 – GMA-2;
1.4.3. Business Analysis Management – GMN; and
1.4.4. Market Structure and Electronic Systems Management – GME;
1.4. Market and Intermediaries Relations Superintendence – SMI:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
1.4.1. Market Monitoring Management 1 – GMA-1;
1.4.2. Market Monitoring Management 2 – GMA-2;
1.4.3. Business Analysis Management – GMN;
1.4.4. Market Structure and Electronic Systems Management – GME; and

Item 1.4 and subitems with wording given by CVM Resolution No. 40, of July 21, 2021.
1.4.5. Compensation Mechanisms Section – SEMER;
1.4.5. Compensation Mechanisms Sector – SEMER;
Subitem 1.4.5 with wording given by CVM Resolution No. 186, of July 14, 2023.
1.4.5 – REVOKED
Subitem 1.4.5 revoked by CVM Resolution No. 220, of November 11, 2024.
1.4.1. Market Monitoring Management – GMA;
Subitem 1.4.1 revoked by CVM Resolution No. 239, of January 9, 2026.
1.4.2. Organized Markets and Infrastructures Management – GIMOR;
1.4.3. Intermediaries Supervision Management 1 – GSUI-1;
1.4.4. Intermediaries Supervision Management 2 – GSUI-2; and
1.4.5. Market Monitoring Section – SEMOM;
1.4.5. Market Monitoring Sector – SEMOM;
Subitems 1.4.1 to 1.4.5 with wording given by CVM Resolution No. 228, of April 16, 2025.
Subitem 1.4.5 with wording given by CVM Resolution No. 239, of January 9, 2026.
Subitem 1.4.5 revoked by CVM Resolution No. 243, of May 20, 2026
1.4.6. Statistics and Market Monitoring Division – DEMON; and
1.4.7. Intermediaries Supervision Division – DSUI;
Subitems 1.4.6 and 1.4.7 included by CVM Resolution No. 243, of May 20, 2026

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
1.5. Strategic Risks Supervision Superintendence – SSR:
1.5.1. Strategic Risks Supervision Intelligence Management – GRID;
1.5.2. Strategic Risks Supervision Management 1 – GSR-1; and
1.5.3. Strategic Risks Supervision Management 2 – GSR-2;
1.6. Sanctioning Processes Superintendence – SPS:
1.6.1 Investigation Intelligence Management – GIIN;
1.6.2. Sanctioning Processes Management 1 – GPS-1;
1.6.3. Sanctioning Processes Management 2 – GPS-2;
1.6.4. Sanctioning Processes Management 3 – GPS-3; and
1.6.5. Administrative Processes Control Division– CCP;
1.6. Sanctioning Processes Superintendence – SPS:
1.6.1. Sanctioning Processes Control Management – GCP;
1.6.2. Investigation Intelligence Management – GIIN;
1.6.3. Sanctioning Processes Management 1 – GPS-1;
1.6.4. Sanctioning Processes Management 2 – GPS-2; and
1.6.5. Sanctioning Processes Management 3 – GPS-3;

Item 1.6 and subitems with wording given by CVM Resolution No. 40, of July 21, 2021.
Subitem 1.6.2 revoked by CVM Resolution No. 233, of July 14, 2025.
1.7. Investor Protection and Orientation Superintendence – SOI:
1.7. Investor Orientation and Sustainable Finance Superintendence – SOI:
Item 1.7 with wording given by CVM Resolution No. 203, of May 23, 2024.
1.7.1. Investor Orientation Management 1 – GOI-1;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
1.7.2. Investor Orientation Management 2 – GOI-2;
1.7.3. Financial Education Division – COE;
1.7.1. Investor Service and Orientation Management – GOI;
1.7.2. Financial Education and Inclusion Management – GEIF; and
1.7.3. Innovation and Sustainable Finance Division – DIFIS;
1.7.3. Innovation and Sustainable Finance Management – GEFIS;

Subitems 1.7.1 to 1.7.3 with wording given by CVM Resolution No. 186, of July 14, 2023.
Subitem 1.7.3 with wording given by CVM Resolution No. 203, of May 23, 2024.
1.7.4. Information Management Division – DINF; and
1.7.4 REVOKED
1.7.5. Behavioral Studies and Research Center – CECOP;
1.7.5 REVOKED
Subitems 1.7.4 and 1.7.5 revoked by CVM Resolution No. 186, of July 14, 2023.
1.8. International Relations Superintendence – SRI:
1.8.1. International Relations Management – GRI;
1.9. Market Development Superintendence – SDM:
1.9.1. Norms Development Management 1 – GDN-1; and
1.9.2. Norms Development Management 2 – GDN-2;
1.9.3. Innovation and Regulatory Improvement Division – DIAR;
Subitem 1.9.3 included by CVM Resolution No. 243, of May 20, 2026.
1.10. Accounting and Audit Standards Superintendence – SNC:
1.10.1. Audit Standards Management – GNA; and

CVM RESOLUTION NO. 24, OF MARCH 5, 2021
1.10.2. Accounting Standards Management – GNC;
1.10.3. Auditor Registration and Cadastre Division – DICAR;

Subitem 1.10.3 included by CVM Resolution No. 243, of May 20, 2026.
1.11. Information Technology Superintendence – STI:
1.11.1. Analytical Data Engineering Management – GDA;
1.11.2. Information Technology Governance and Management Management – GSG;
1.11.3. Systems Management – GSI;
1.11.4. Technology Management – GST; and
1.11. Information Technology Superintendence – STI:
1.11.1. Analytical Data Engineering Management – GDA;
1.11.2. Systems Management – GSI;
1.11.3. Technology Management – GST;
1.11.4. Governance and Technology Management Division – DGOV; and
Item 1.11 and subitems with wording given by CVM Resolution No. 40, of July 21, 2021.
1.11.5. User Service Section – CSU;
1.11.5. User Service Sector – CSU;
Subitem 1.11.5 with wording given by CVM Resolution No. 186, of July 14, 2023.
1.12. Planning and Innovation Superintendence – SPL:
1.12.1. Innovation, Projects and Processes Management – GEINP;
1.12.2. Institutional Strategy and Performance Management Division – DEGES; and
1.12.3. Government Planning and Budgeting Division – DIPOG;
Subitems 1.11 and 1.12 revoked by CVM Resolution No. 203, of May 23, 2024.

1.13. Superintendency of Institutional Relations – SRL; and
1.14. Superintendency of Securitization Supervision – SSE:
1.14.1. Securitization Supervision Management 1 – GSEC-1;
1.14.2. Securitization Supervision Management 2 – GSEC-2; and
1.14.3. Securitization Supervision Division – DSEC; and
1.14. Superintendency of Securitization and Agribusiness – SSE:
1.14.1. Securitization and Agribusiness Management 1 – GSEC-1;
1.14.2. Securitization and Agribusiness Management 2 – GSEC-2;
1.14.3. Securitization and Agribusiness Management 3 – GSEC-3; and
1.14.4. Securitization and Agribusiness Division – DSEC;
1.14.4. Securitization and Agribusiness Management 4 – GSEC-4;

Item 1.14 and subitems with wording given by CVM Resolution No. 186, of July 14, 2023.
Subitem 1.14.4 with wording given by CVM Resolution No. 243, of May 20, 2026.
1.15. Superintendency of Market, Derivatives and Systemic Risks Supervision - SMD;
1.15.1 - Market Monitoring Management – GMA;
1.15.2 - Systemic and Macroprudential Risks Management – GERIS; and
1.15.3 - Cash Market and Derivatives Supervision Division – DSME”
Subitems 1.15 to 1.15.3 included by CVM Resolution No. 239, of January 9, 2026.
V – Institutional Committees:

Strategic level committees:
1.1. Governance and Strategic Management Committee – CGE; and
1.2. Governance and Risk Management Committee – CGR; and
other committees constituted in accordance with the provisions of this Regulation.

Clause “a” with wording given by CVM Resolution No. 40, of July 21, 2021.
b) Company Monitoring Management 5 – GEA-5; c) Strategic Risks Supervision Management 2 – GSR-2; d) Sanctioning Processes Management 3 – GPS-3; e) Investor Orientation Management 2 – GOI-2; e) Customer Service and Investor Orientation Management – GOI;
Clause “e” with wording given by CVM Resolution No. 186, of July 14, 2023
f) Market Monitoring Management 2 – GMA-2; f) Organized Markets and Infrastructures Management - GIMOR; g) Business Analysis Management – GMN; g) Intermediaries Supervision Management 1 – GSUI-1; h) Accounting Standards Management – GNC; i) Securitization Supervision Management 1 – GSEC-1; i) Securitization and Agribusiness Management 1 – GSEC-1; j) Securitization Supervision Management 2 – GSEC-2; j) Securitization and Agribusiness Management 2 – GSEC-2; and k) Compensation Mechanisms Section – SEMER; and

Clause “k” with wording given by CVM Resolution No. 186, of July 14, 2023.
k – REVOKED
Clause “k” revoked by CVM Resolution No. 220, of November 11, 2024.
Clauses f, g, i and j with wording given by CVM Resolution No. 228, of April 16, 2025.
III – in Rio de Janeiro, the remaining components.
Sole paragraph. The organizational components may be integrated or headed by servers assigned to different locations.
CHAPTER III – OF THE COMPETENCIES OF THE UNITS
Section I – Of the Competencies of the Collegiate Body
Art. 6º The Collegiate Body is responsible for:
I – establishing the general policy of the CVM; II – approving the Internal Regulations of the CVM; III – defining the regulation agenda for each fiscal year and issuing normative acts within the competence of the CVM; IV – deciding on the granting of waivers of requirements provided for in normative acts issued by the CVM; V – judging administrative sanctioning processes; VI – deciding on appeals filed against decisions of the CVM Superintendents; VII – practicing the other acts provided for in law or regulation, including with respect to administrative processes in general.

Item VII with wording given by CVM Resolution No. 40, of July 21, 2021.
VII – REVOKED
Item VII revoked by CVM Resolution No. 220, of November 11, 2024.
VIII – practicing the other acts provided for in law or regulation, including with respect to administrative processes in general.
Item VIII included by CVM Resolution No. 40, of July 21, 2021.
Sole paragraph. The competence provided for in item IV may be the subject of delegation.
Sole paragraph included by CVM Resolution No. 177, of January 23, 2023.
Art. 7º It is incumbent upon the President:
I – plan, direct, coordinate and control the finalistic and administrative activities of the CVM; II – represent the CVM, possibly, in specific cases, delegating this attribute; III – convene and preside over the meetings of the Collegiate Body; IV – preside over the sessions of judgment of administrative sanctioning processes; V – issue, in cases of urgency, the acts within the competence of the CVM ad referendum of the Collegiate Body; VI – appoint, provide for the positions of the CVM and practice other acts included in personnel administration, in accordance with the applicable legislation; VII – grant commendations and apply penalties to servers; VIII – approve the policies, principles and guidelines that will guide the norms and practices of institutional management systems; and

COMMISSION OF SECURITIES AND EXCHANGE COMMISSION Rua Sete de Setembro, 111/2-5º and 23-34º Floors, Centro, Rio de Janeiro/RJ – CEP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2º, 3º and 4º Floors, Bela Vista, São Paulo/ SP – CEP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4º Floor, Brasília/DF – CEP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM RESOLUTION NO. 24, OF MARCH 5, 2021 IX – report on administrative sanctioning and non-sanctioning processes, if the inclusion in the draw is provided for in a portaria, in accordance with specific regulation. Art. 8º It is incumbent upon the Directors:
I – participate in the meetings of the Collegiate Body and the sessions of judgment of administrative sanctioning processes; II – report on the subjects and processes, sanctioning or not, that are distributed or drawn to them; III – develop special projects and activities attributed to them by the President; and IV – propose to the Collegiate Body the issuance of acts within the competence of the CVM.
Section II – Of the Competencies of the Units Advising Directly to the Presidency
Art. 9º It is incumbent upon the Office of the Presidency – CGP:
I – assist or represent the President in his administrative, political and social relationships, including in his institutional representation functions; II – manage the flow of documents forwarded to the Presidency and coordinate with internal areas the appropriate measures; III – coordinate the planning and preparation of the agenda of meetings and hearings of the President; IV – provide subsidies and advise the President in making decisions within his competence; and V – exercise other related activities. Art. 10. It is incumbent upon the Executive Management – EXE:
I – provide administrative support to the meetings of the Collegiate Body, preparing the corresponding agendas and minutes; II – provide direct assistance to the Office of the Presidency; III – instruct processes of leaving the country; IV – give publicity to acts resulting from decisions of the President and the Collegiate Body; and

Caput with wording given by CVM Resolution No. 186, of July 14, 2023
I – advise the CVM on matters of an economic nature and risk management; II – promote the preparation of applied economic studies, including regulatory impact analysis; III – coordinate risk management, through the identification, analysis and assessment of risks and the treatment of relevant risk events; and IV – exercise other related activities. III – coordinate risk management, through the identification, analysis and assessment of risks and the treatment of relevant risk events;

Item IV revoked by CVM Resolution No. 239, of January 9, 2026.
V – exercise other related activities.
Item V included and items III and IV with wording given by Resolution No. 186, of July 14, 2023
Art. 12-A. It is incumbent upon the Management of Studies and Research - GEPE:
I - prepare applied economic studies, including regulatory impact analysis - AIR and regulatory result assessment - ARR; II - consolidate economic and statistical data of regulated markets for purposes of external sharing and dissemination; III - coordinate studies conducted by external partners with the support of ASA; and IV - exercise other related activities.
Article 12-A included by CVM Resolution No. 243, of May 20, 2026.
Art.12-B. It is incumbent upon the Risk Management Sector - SEGER:
I - coordinate risk management activities, through identification, analysis and assessment, and the treatment of relevant risk events; II - manage systems and technologies aimed at risk management; III - perform curation and management of the catalog of mapped organizational risks; IV - prepare minutes, manuals, draft normative acts and documents related to the organization of the risk management process; and V - exercise other related activities.
Article 12-B included by CVM Resolution No. 243, of May 20, 2026.
Art. 13 . It is incumbent upon the Center for Development in Data Science – CCD:

Art. 13 revoked by CVM Resolution No. 159, of July 8, 2022.
Section III – Of the Competencies of Sectional Bodies
Art. 14. It is incumbent upon Internal Audit – AUD:
I – audit the administrative systems, processes and routines of the CVM, as well as adopt the other relevant measures to assist the central body of the Internal Control System of the Federal Executive Power; II – propose to the Collegiate Body the adoption of measures necessary to improve the management of the CVM and the functioning of its internal bodies; III – assist the central body of the Correction System of the Federal Executive Power and adopt the measures pertinent to the correctional matter; IV – analyze formal complaints presented by the general public regarding the administrative functioning of the CVM; and V – exercise other related activities. I - perform internal control, inspect and examine results regarding the economy, effectiveness and efficiency of the budgetary, financial, accounting, property, personnel and other administrative and operational systems of the CVM;

COMMISSION OF SECURITIES AND EXCHANGE COMMISSION Rua Sete de Setembro, 111/2-5º and 23-34º Floors, Centro, Rio de Janeiro/RJ – CEP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2º, 3º and 4º Floors, Bela Vista, São Paulo/ SP – CEP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4º Floor, Brasília/DF – CEP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM RESOLUTION NO. 24, OF MARCH 5, 2021 II - advise the Collegiate Body in fulfilling the institutional objectives of the CVM, primarily in supervision and internal administrative control; III - perform audits and issue reports on the physical and financial execution and results obtained in the application of resources, regarding programs, projects and activities under the responsibility of the CVM; IV - examine and issue an opinion on the CVM's annual accountability and on special accounts; V - monitor compliance with diligence and implementation of recommendations of the bodies and units of the Internal Control System of the Federal Executive Power and the Court of Accounts of the Union; VI - prepare the Annual Activity Plan of Internal Audit and the Annual Activity Report of Internal Audit of the CVM; VII - perform audits on the systems, processes and routines of the CVM; VIII - propose to the Collegiate Body the adoption of measures necessary to improve the functioning of its internal bodies; IX - assist the central body of the Correction System of the Federal Executive Power and adopt measures related to correctional matter, in accordance with the provisions of the applicable legislation; X - analyze formal complaints presented by the general public regarding the administrative functioning of the CVM, observing the provisions of Chapter IV of Law No. 13.460, of June 26, 2017, and Decree No. 9.492, of September 5, 2018; and XI – exercise other related activities. VIII - propose to the Collegiate Body the adoption of measures necessary to improve the functioning of its internal bodies; and IX – exercise other related activities.

Items VI to XI included and items I to V with wording given by Resolution No. 186, of July 14, 2023
Items VIII and IX with wording given by CVM Resolution No. 243, of May 20, 2026.
Items X and XI revoked by CVM Resolution No. 243, of May 20, 2026.
Art. 14-A. It is incumbent upon the Correction Sector – COR:
I – exercise activities of a sectional body of the Correction System of the Federal Executive Power; II – receive representations and complaints related to the performance of CVM servers, including those occupying commissioned positions or functions, forwarded by the AUD to form a judgment of admissibility regarding the initiation of a correctional process; III - propose to the AUD, in accordance with the regulations of the CGU and the CVM, the initiation of Summary Preliminary Investigation, Investigative Inquiry, Administrative Disciplinary Process to investigate the responsibility of CVM servers, and procedure for Patrimonial Inquiry due to founded notice or indications of illicit enrichment; IV – receive representations and complaints to investigate the responsibility of private entities and propose to the AUD the initiation of Preliminary Investigation or Administrative Responsibility Process, in accordance with applicable regulation; V – supervise and guide the activities of designated committees, with respect to the investigations of alleged infractions committed by servers or legal entities, and submit the matter to the President of the CVM for judgment, in accordance with applicable regulation; and VI - exercise other related activities.
Article 14-A with wording given by CVM Resolution No. 203, of May 23, 2024.
Article 14-A revoked by CVM Resolution No. 239, of January 9, 2026.
Art. 15. It is incumbent upon the Specialized Federal Attorney's Office – PFE:
I – represent the CVM judicially and extrajudicially, observing the norms established by the Federal Attorney-General's Office and the internal regulation of the CVM;

COMMISSION OF SECURITIES AND EXCHANGE COMMISSION Rua Sete de Setembro, 111/2-5º and 23-34º Floors, Centro, Rio de Janeiro/RJ – CEP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2º, 3º and 4º Floors, Bela Vista, São Paulo/ SP – CEP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4º Floor, Brasília/DF – CEP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM RESOLUTION NO. 24, OF MARCH 5, 2021 II – guide the execution of the CVM's judicial representation, when under the responsibility of the other execution bodies of the Federal Attorney-General's Office; III – exercise the activities of legal consulting and advisory within the CVM, observing, insofar as applicable, the provisions of Article 11 of Complementary Law No. 73, of February 10, 1993; IV – assist the other execution bodies of the Federal Attorney-General's Office in determining the liquidity and certainty of credits of any nature inherent to the activities of the CVM, for registration in active debt and collection; V – safeguard compliance with the Constitution, laws and acts emanated by the Public Powers, under the normative guidance of the Attorney-General's Office of the Union and the Federal Attorney-General's Office; and VI – forward to the Attorney-General's Office of the Union or the Federal Attorney-General's Office a request to investigate functional misconduct practiced by their respective members, as the case may be. Art. 16. It is incumbent upon the Legal Subprocuratorships 1, 2, 3 and 4 – GJU-1, GJU-2, GJU-3 and GJU-4:
I – provide legal consulting and advisory to the areas of the CVM; II – determine the liquidity and certainty of credits, of any nature, inherent to the performance of the CVM; III – register in Active Debt the credits referred to above, for purposes of friendly or judicial collection, and act within the scope of installment payments of the respective debts; IV – provide information to the execution bodies of the Federal Attorney-General's Office directly responsible for collecting CVM credits; V – act in judicial processes involving the CVM or in which the CVM acts as amicus curiae of the Public Ministry; VI – represent the CVM in its performance as amicus curiae, in accordance with Article 31 of Law No. 6.385, of December 7, 1976; VII – perform control of the legality of the CVM's administrative performance, in accordance with Article 38 of Law No. 8.666, of June 21, 1993, and the proposals for the celebration of commitment terms;

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – CEP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/SP – CEP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – CEP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

VIII – express an opinion on the need to communicate with the Public Prosecutor’s Office or other institutions, in accordance with Article 9 of Complementary Law No. 105, of January 10, 2001, and applicable regulations; IX – act in administrative proceedings involving requests to interrupt the course of the notice period for convening an extraordinary general meeting of an open capital company; X – express an opinion on the legal soundness of administrative inquiries and indictment terms presented by the CVM’s technical areas, as provided for in applicable regulations; XI – act in the judgment sessions of administrative sanctioning and non-sanctioning proceedings; and XII – carry out other related activities.

Sole Paragraph. Only members of the Collegiate Board and other holders of organizational components are authorized to formulate consultations or requests for legal advice to the PFE-CVM.

Sole Paragraph included by CVM Resolution No. 239, of January 9, 2026.

Art. 16-A. It is the responsibility of the Legal Control and Support Section – CAJ:
Art. 16-A. It is the responsibility of the Legal Control and Support Sector – CAJ:
Art. 16-A. It is the responsibility of the Legal Control and Support Center – CAJ:

Caput with wording given by CVM Resolution No. 186, of July 14, 2023
Caput with wording given by CVM Resolution No. 239, of January 9, 2026.

I – the reception, registration, and necessary processing for the receipt and issuance of consultations, legal opinions, and other correspondence; II – the preparation and organization of material necessary for the participation of the Chief Prosecutor, or whoever he indicates, in meetings; III – the daily verification of email boxes and other document control and processing systems; and

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

IV – carry out other related activities.

Article 16-A included by CVM Resolution No. 66, of March 4, 2022.

Art. 16-B. It is the responsibility of the Sectional Superintendence for Development and Institutional Modernization – SDE:

I – coordinate, within the CVM, activities related to planning, human resources management, innovation management, information technology, and administration and finance, through the Superintendencies subordinate to it, observing applicable guidelines and determinations; II – supervise activities and monitor and control the performance of the Superintendencies subordinate to it; III – coordinate technical cooperation agreements, conventions, or similar instruments related to the matters mentioned in item I of this article, in accordance with specific designations; IV – coordinate the preparation of responses to demands formulated by control bodies or other institutions, when the subject matter falls within the sphere of responsibilities of the SDE; V – establish, within its area of competence, operational procedures related to the monitoring, recording, and evaluation of institutional goals; VI – coordinate the proposal of initiatives and partnerships with ministries or other bodies or entities, on matters under its responsibility; VII – implement and coordinate actions aimed at achieving efficiency gains and institutional modernization; VIII – advise the President of the CVM on the matters mentioned in item I of this article; and IX – carry out other related activities.

Article 16-B included by CVM Resolution No. 203, of May 23, 2024.

Art. 16-C. It is the responsibility of the Intelligence Development Management – GDI:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

I – provide operational and managerial support to core activities for the collection and analysis of information and production of evidence; II – develop, experiment with, and evaluate methods, mechanisms, techniques, and technologies of intelligence and data analysis; III – promote a culture of analysis and data science and act in training for methods, techniques, and technologies related to the theme; IV – establish partnerships with other bodies focused on data science and intelligence technologies with the potential to improve the CVM; and V – carry out other related activities.

Article 16-C included by CVM Resolution No. 233, of July 14, 2025.
Article 16-C revoked by CVM Resolution No. 239, of January 9, 2026.

Art. 16-D. It is the responsibility of the Intelligence Development Superintendence – SDI:

I – develop analytical and intelligence solutions for the supervision and inspection of the securities market and for the improvement of the CVM’s work processes, promoting innovation and the responsible and ethical use of advanced technologies to support institutional decisions; II – coordinate and promote data governance at the CVM; III – coordinate and monitor compliance with norms related to privacy and personal data protection; IV – foster a data and information intelligence culture at the CVM; V – coordinate and supervise document management and digital preservation activities; VI – coordinate the preparation and monitor the execution of the CVM’s Open Data Plan; and VII – carry out other related activities.

Article 16-D included by CVM Resolution No. 239, of January 9, 2026.

Art. 16-E. It is the responsibility of the Analytical Data Engineering Management – GDA:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

I – provide data supply solutions, expanding the analysis and judgment capacity of users regarding information relevant to the decision-making process; II – make data of interest to society available; III – establish and manage the architecture of the analytical data platform, defining structures through which data are processed, stored, and used; IV – establish technical guidelines on the production, processing, use, dissemination, storage, and retention of data on the analytical data platform; V – assist in the preparation of regulations on matters related to data transmission and reception; and VI – carry out other related activities.

Article 16-E included by CVM Resolution No. 239, of January 9, 2026.

Art. 16-F. It is the responsibility of the Intelligence Development Management – GDI:

I – provide operational and managerial support to the CVM’s core activities, especially in the collection and analysis of information and the production of evidence; II – develop, experiment with, and evaluate methods, mechanisms, techniques, and technologies of intelligence and data science; III – establish guidelines for the use of advanced analytical and computational solutions, promoting their responsible application aligned with ethical standards and institutional policies; III – establish technical guidelines for the use of advanced analytical and computational solutions, observing the CVM’s data governance and artificial intelligence policies;

Item III with wording given by CVM Resolution No. 246, of July 30, 2026.

IV – establish partnerships with bodies and entities focused on data science and intelligence technologies; and V – carry out other related activities.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Article 16-F included by CVM Resolution No. 239, of January 9, 2026.

Art. 16-G. It is the responsibility of the Information Management Management – GINF:

I – plan, coordinate, and supervise document management activities, in order to ensure administrative efficiency and preservation of institutional memory; II – propose norms and procedures related to document management, focusing on the improvement of process management and the promotion of institutional innovation; III – guide and supervise routines related to the management of archived documents, in accordance with current legislation and good information governance practices; IV – coordinate the CVM’s participation in forums and initiatives aimed at the integration of electronic administrative process systems and document management; V – manage and promote the improvement of technological and intelligence solutions for process management; VI – plan, organize, control, and execute the granting of views of documents and non-sanctioning administrative proceedings, observing information access norms; and VII – carry out other related activities.

Article 16-G included by CVM Resolution No. 239, of January 9, 2026.

Art. 16-H. It is the responsibility of the Data Governance and Protection Management – GDPO:

I – act as the CVM’s Data Governance Office;
II – implement and maintain a data governance program at the CVM; III – analyze and decide on data sets, including the capture, interruption of receipt, and changes in custody responsibility; IV – propose, implement, and revise internal policies, norms, and procedures related to data governance, privacy, and the processing of personal data;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

V – coordinate and monitor compliance with actions for the processing and protection of personal data; and VI – carry out other related activities. VI – propose, implement, and revise internal policies, norms, and procedures related to data governance and the ethical and responsible use of artificial intelligence at the CVM, as well as monitor its observance; and VII – carry out other related activities.

Article 16-H included by CVM Resolution No. 239, of January 9, 2026.
Item VI with wording given and Item VII included by CVM Resolution No. 246, of July 30, 2026.

Art. 16-I. It is the responsibility of the Institutional Development Division – DDEIN:

I – monitor and track the execution of projects, initiatives, and priority actions within the Sectional Superintendence for Development and Institutional Modernization – SDE; II – assist in the preparation, consolidation, revision, and monitoring of documents, studies, technical notes, reports, and drafts related to matters within the competence of the SDE; III – support the coordination of the preparation of responses to demands formulated by control bodies or other institutions, related to the responsibilities of the SDE; IV – carry out activities related to the monitoring, recording, and evaluation of institutional goals within the SDE; and V – carry out other related activities.

Article 16-I included by CVM Resolution No. 243, of May 20, 2026.
Article 16-I revoked by CVM Resolution No. 246, of July 30, 2026.

Art. 16-J. It is the responsibility of the Financial Technology Division – DITEC:

I – provide internal technical advice on emerging financial technologies applied to the securities market;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

II – evaluate the implications of emerging financial technologies for regulated entities and the securities market; III – prepare studies and proposals on emerging financial technologies applied to the securities market and on the risks associated with them; IV – foster, within the CVM, the development of knowledge on emerging financial technologies applied to the securities market; V – interact with external institutions on matters of emerging financial technologies; and VI – carry out other related activities.

Article 16-J included by CVM Resolution No. 246, of July 30, 2026.

Art. 17. It is the responsibility of the Administrative-Financial Superintendence – SAD:

I – propose norms, policies, and guidelines related to administrative, accounting, financial, asset, and cost management; I – propose norms, policies, and guidelines related to administrative, accounting, financial, asset, document, and cost management; II – coordinate the collection activities of the inspection fee, applied fines, as well as other revenues due to the CVM; III – coordinate activities related to bidding and contracts, general services, asset management, and sustainable logistics; III – coordinate activities related to bidding and contracts, general services, asset management, financial, budgetary, and sustainable logistics management; IV – coordinate accounting and management registration compliance activities; V – coordinate activities related to human resources management, training, and development, health, and quality of life;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

V – coordinate activities related to the management of the documentary archive, electronic administrative process systems, and the granting of views of documents and non-sanctioning administrative proceedings; and VI – carry out other related activities.

Items I, III, and V with wording given by CVM Resolution No. 228, of April 16, 2025.

Art. 18. It is the responsibility of the Revenue Collection and Collection Management – GEARC:

I – control and supervise the receipt of payments for inspection fees and fines and carry out activities related to the registration of tax credits; II – decide on requests for installment plans for debts not registered in Active Debt, in accordance with applicable internal regulations; III – analyze and provide authorization for the realization of compensations and refunds; IV – analyze challenges against notification of inspection fee assessments, requesting opinions from technical areas and offering subsidies for the decision on the requests; IV – act as the issuing authority for inspection fees for the securities and capital markets, in accordance with applicable legislation;

Item IV with wording given by CVM Resolution No. 40, of July 21, 2021, and effective from November 1, 2021.

V – instruct administrative-tax processes for the forwarding of records to the Prosecutor’s Office, aiming at the analysis of the liquidity and certainty of tax and non-tax credits, for the purpose of registration in active debt; VI – issue and control certificates related to tax and non-tax credits; and VII – carry out other related activities.

Art. 19. It is the responsibility of the Controller and Accounting Management – GECON:
Art. 19. It is the responsibility of the Accounting and Costs Management – GECON:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

I – carry out accounting records of acts and facts of budgetary, financial, asset, and cost execution and reconcile the movement of account balances; II – prepare balance sheets, trial balances, and other CVM accounting statements; III – register information on financial transfer instruments related to conventions, cooperation agreements, and decentralized execution terms, as well as debts assessed in special audits and in the rendering of accounts of advances; IV – make adjustments to specific accounts, in compliance with closing norms for the fiscal year, accounting compliance, and management registration compliance of the managing units; IV – make adjustments to specific accounts, in compliance with closing norms for the fiscal year, as well as perform accounting compliance of the managing units; V – monitor the tax situation of the Autarchy before the Union, States, Federal District, and Municipalities, in the administrative sphere, regularizing any pending issues, as well as sending the Withholding Income Tax Declaration; VI – attest the actual receipt of revenue collected under terms of commitment celebrated; VII – monitor, evaluate, and propose the implementation of internal control procedures on processes and events related to acts and facts that should be accounted for; and VIII – carry out other related activities. VII – propose the implementation of procedures related to acts and facts that should be accounted for; VIII – monitor the demands contained in the annual purchase plan, demonstrating the progress and status of each item; and IX – carry out other related activities.

Items IV, VII, VIII, and IX with wording given by CVM Resolution No. 203, of May 23, 2024.

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Caput with wording given by CVM Resolution No. 228, of April 16, 2025.

Art. 20. It is the responsibility of the Budget and Financial Execution Management – GEOFI:

I – supervise the execution of the annual budget; II – supervise the distribution of budgetary and financial limits, according to limits approved in the Annual Budget Law, the Federal Executive’s budgetary and financial programming, and the Autarchy’s annual budget planning; III – authorize, jointly with the expense ordering officer, pre-commitments, commitments, bank orders, requests for cash transfers, and other correspondence related to financial procedures, credits in accounts of employees or third parties, credit blocks, financial decentralizations, and budgetary alteration proposals; IV – carry out budgetary and financial procedures related to foreign exchange contracts and international payments; V – analyze the payment and attestation of fiscal documents sent for payment for the purpose of authorization by the expense ordering officer; VI – make payments and collections; VII – directly acquire air tickets through payment cards or other forms established by the central body, as well as other procedures for operationalizing the acquisition; and VII – operationalize, grant, renew, maintain registration, and control the limits of federal government payment cards in the name of employees of the autarchy with the Bank of Brazil or financial institution indicated by the central body; and

Item VII with wording given by CVM Resolution No. 40, of July 21, 2021.

VIII – carry out other related activities.

Art. 21. It is the responsibility of the Human Resources Management Management – GEGEP:

I – plan, propose, and advise the other organizational components regarding the execution of policies related to human resources management, observing the general guidelines of the Federal Public Administration and the Autarchy's Strategic Planning; II – conduct personnel needs studies and promote public competitions and selection processes; III – control attendance and maintain the registry and documentation of civil servants, recording their functional status from entry to dismissal; III – control attendance, verify the requirements for authorization of special hours without reduction in workload, and maintain the registry and documentation of civil servants, recording their functional status from entry to dismissal;

Item III with wording given by CVM Resolution No. 159, of July 8, 2022.
IV – carry out payroll and benefits processing activities, as well as comply with labor law obligations; V – analyze and prepare administrative processes related to retirements and pensions; VI – supervise internship, health, and quality of life programs; VII – carry out the necessary procedures for formalizing internships, in accordance with applicable legislation; VIII – sign appointment terms for civil servants appointed to hold permanent or commissioned positions; and IX – carry out other related activities. IX – supervise movements and secondments, execute the necessary routines for maintaining this workforce, and coordinate communication with the originating institutions; and X – carry out other related activities.
Item X included and Item IX with wording given by CVM Resolution No. 40, of July 21, 2021.

Art. 21. REVOKED

Article 21 revoked by CVM Resolution No. 186, of July 14, 2023.

Art. 22. It is the responsibility of the Procurement Management – GELIC:
Art. 22. It is the responsibility of the Procurement Management – GELIC:
I – supervise the preparation and execution of the annual procurement plan; II – advise the requesting areas and procurement planning teams with the operational procedures necessary for the acquisition of goods and contracting of services necessary for the functioning of the Autarchy, including travel; II – advise the requesting areas and procurement planning teams with the operational procedures necessary for the acquisition of goods and contracting of services necessary for the functioning of the Autarchy; III – analyze the documentation prepared by the requesting areas for the preparation of procurement planning processes; IV – prepare procurement processes and carry out the appropriate classification according to the modalities provided by law; V – conduct electronic auction sessions; VI – administer contracts, including extensions, price readjustments, and contractual readjustments; VII – appoint civil servants to act in contract oversight; VIII – conduct administrative processes for the application of penalties related to bidding and contracts; and IX – carry out other related activities. V – conduct electronic auction sessions; and VI – carry out other related activities.

Head and items II, V, and VI with wording given by CVM Resolution No. 243, of May 20, 2026.
Items VII, VIII, and IX revoked by CVM Resolution No. 243, of May 20, 2026.

V - conduct electronic auction sessions;
VI - formally designate, upon prior indication by the requesting and technical areas, the civil servants to integrate the procurement planning teams; and VII – REVOKED; VIII – REVOKED; IX – REVOKED; X - carry out other related activities.

Items V and VI with wording given and Item X included by CVM Resolution No. 246, of July 30, 2026.

Art. 22-A. It is the responsibility of the Administrative Contracts Division - DICON:
I - administer contracts, including extensions, price readjustments, and contractual readjustments; II - appoint civil servants to act in contract oversight; III - conduct administrative processes for the application of penalties related to bidding and contracts; and IV - carry out other related activities.

Article 22-A included by CVM Resolution No. 243, of May 20, 2026.

Art. 23. It is the responsibility of the Maintenance and Property Administration Management and the Maintenance and Property Administration Division – GEMAP and DIMAP:
I – administer, control, and ensure the maintenance of building facilities; II – plan and supervise contracts related to general services, facility maintenance, acquisition of general-use property assets, and supplies; III – administer, control, and ensure the rational use of property assets, together with the other organizational components;

IV – manage the general-use services and infrastructure made available to the Autarchy and seek their modernization; and V – carry out other related activities.

Art. 23-A. It is the responsibility of the Information Management Division – DINF:
Art. 23-A. It is the responsibility of the Information Management Management – GINF:
I – plan, organize, and control protocol activities and the management of the CVM's documentary archive; II – propose norms related to document management at CVM; III – guide and supervise routines related to the management of archived documents, in accordance with current legislation; IV – coordinate CVM's participation in forums dealing with the integration of electronic administrative process systems and document management; V – manage electronic administrative process systems; and VI – carry out other related activities. V – manage electronic administrative process systems; VI – plan, organize, control, and execute the granting of views of documents and non-sanctioning administrative processes; and VII – carry out other related activities.

Article 23-A included by CVM Resolution No. 186, of July 14, 2023
Head and items V, VI, and VII with wording given by CVM Resolution No. 203, of May 23, 2024.
Article 23-A revoked by CVM Resolution No. 239, of January 9, 2026.

Art. 23-B - It is the responsibility of the Administrative Compliance and Governance Center – CCONF:
I - prepare studies and risk mappings regarding procedures, processes, and relevant events in the administrative context;

II - carry out modeling and implementation of internal control procedures to be applied in administrative routines; III - monitor and evaluate internal control procedures in administrative routines; IV - assist in accountability to internal and external control bodies; V - draft internal regulations and manuals regarding administrative procedures of the SAD; VI - prepare opinions related to administrative sanction processes; VII - ensure compliance with the management registration of managing units; and VIII - carry out other related activities.

Article 23-B included by CVM Resolution No. 203, of May 23, 2024.

Art. 24. It is the responsibility of the Training and Personnel Development Division – DICAD:
I – prepare the Personnel Development Plan, conducting the assessment of needs, definition of priorities, and cost estimation; II – plan, facilitate contracting, organize, and evaluate training actions; III – analyze and monitor requests for leaves provided for in training programs; III – analyze and monitor requests within the scope of training programs;

Item III with wording given by CVM Resolution No. 40, of July 21, 2021.
IV – propose and administer the CVM's annual training budget; V – propose partnerships and cooperation agreements with other national or foreign bodies and institutions, for the purpose of sharing experiences and opportunities in the area of training and personnel development; VI – monitor the performance evaluation cycles and probationary periods of civil servants, as well as their effects on their functional life;

VII – carry out career development actions and improve human resources management practices with the other organizational components; and VIII – carry out other related activities.

Art. 24. REVOKED

Article 24 revoked by CVM Resolution No. 186, of July 14, 2023.

Art. 24-A. It is the responsibility of the Human Resources Management Superintendence – SGP:
I - plan, coordinate, guide, and execute activities related to the Federal Administration Civil Personnel System; II - plan, execute, coordinate, and supervise activities related to recruitment and selection, remuneration, granting of retirement and civil pension, functional records, and benefits administration; III - coordinate and implement the National Policy for Personnel Development within CVM; IV - promote policies and programs aimed at improving quality of life and health, valuing civil servants, organizational climate, and engagement; V - define and promote policies and guidelines related to human resources management, career structuring, labor relations, allocation and workforce mobility, competency-based management, individual performance management, corporate education, and knowledge management; VI – propose and administer the annual training budget and other matters related to the human resources management area of CVM; VII - approve complementary norms on the standards and procedures necessary to ensure the implementation of human resources management policies, principles, and guidelines; and VIII – carry out other related activities. VII - approve complementary norms on the standards and procedures necessary to ensure the implementation of human resources management policies, principles, and guidelines;

VIII –plan, define, and monitor the execution of recruitment strategies, proposing the holding of public competitions, selection processes, and requests for secondment or movement; IX – coordinate workforce sizing studies and prepare and propose adjustments to the ideal staffing table for each unit; X - coordinate internal transfer processes for civil servants; and XI - carry out other related activities.

Article 24-A included by CVM Resolution No. 186, of July 14, 2023
Items VII, VIII, IX, X, and XI with wording given by CVM Resolution No. 201, of March 27, 2024

Art. 24-B. It is the responsibility of the Personnel Development Management – GEDEP:
I – prepare the Personnel Development Plan, conducting the assessment of needs, definition of priorities, and cost estimation; II – plan, facilitate, organize, and evaluate development actions; III – analyze and monitor requests within the scope of training programs; IV – propose guidelines, coordinate, and guide units on the implementation of the Management and Performance Program; V – monitor the performance evaluation cycles and probationary periods of civil servants, and propose criteria, parameters, and procedures related thereto; VI – propose partnerships and cooperation agreements with other national or foreign bodies and institutions, for the purpose of sharing experiences and opportunities in the area of training and personnel development; VII – propose and carry out actions to improve human resources management practices at CVM; and VIII – carry out other related activities VII – propose and carry out actions to improve human resources management practices at CVM;

VIII –implement and supervise internship programs and carry out the necessary procedures for their formalization, in accordance with applicable legislation; and IX - carry out other related activities

Article 24-B included by CVM Resolution No. 186, of July 14, 2023
Items VII, VIII, and IX with wording given by CVM Resolution No. 201, of March 27, 2024

Art. 24-C. It is the responsibility of the Registry and Recruitment Management – GECAD:
I – coordinate and carry out activities related to vacations, attendance, transfers, special hours, recruitment and selection, movements, secondments, control of occupied and vacant positions, promotions, advancements, and maintenance of registry and documentation; II – sign appointment terms for civil servants appointed to hold permanent or commissioned positions; III - plan, define, and monitor the execution of recruitment strategies, proposing the holding of public competitions, selection processes, and requests for secondment or movement; IV – conduct workforce sizing studies and prepare and propose adjustments to the ideal staffing table for each unit; V – implement and supervise internship programs and carry out the necessary procedures for their formalization, in accordance with applicable legislation; VI – supervise movements and secondments, execute the necessary routines for maintaining the workforce, and coordinate communication with the originating institutions; and VII – carry out other related activities.

Article 24-C included by CVM Resolution No. 186, of July 14, 2023
Article 24-C revoked by CVM Resolution No. 201, of March 27, 2024

Art. 24-D. It is the responsibility of the Remuneration and Retirement Management – GERAP:

I – carry out activities related to payroll processing and reimbursements regarding remuneration of seconded and transferred personnel; II - execute and control procedures related to the recording of deductions for unjustified absences, alimony, inclusion of benefits and rights, allowances, bonuses, and other recordings provided for in legislation or judicial decisions; III - prepare calculations for payment of remunerations related to liabilities, judicial actions, and other calculations involving payroll recording and respective recordings in active debt; III – prepare processes and prepare calculations for payment of remunerations related to liabilities, judicial actions, and other calculations involving payroll recording or respective recordings in active debt; IV – prepare projections and monitor the monthly disbursement of personnel expenses; V – prepare certificates and declarations based on financial records; VI - maintain the record of occurrences in payroll, proposing the adoption of measures when irregularities are detected; VII – analyze and prepare administrative processes related to retirements, pensions, service time certification, and stay of permanence bonus; and VIII – carry out other related activities. VII – analyze and prepare administrative processes related to retirements, pensions, service time certification, and stay of permanence bonus; VIII – carry out initial attendance for retirees and pensioners; IX – manage and execute activities related to the calculation and recording in payroll of indemnities, substitutions, bonuses, additional payments, reimbursements, promotions, advancements, replacements, and payroll deductions; and X - carry out other related activities.

Article 24-D included by CVM Resolution No. 186, of July 14, 2023
Items III, VII, VII, VIII, IX, and X with wording given by CVM Resolution No. 201, of March 27, 2024

Art. 24-E. It is the responsibility of the Service and Well-being Division – DOBEM:
Art. 24-E. It is the responsibility of the Service and Well-being Management – DOBEM:

Head with wording given by CVM Resolution No. 243, of May 20, 2026.

I – plan, and promote initiatives related to quality of life and organizational climate management and engagement, including the rewards program; II- propose and foster actions and programs in the field of occupational health, health promotion for civil servants, in consonance with applicable policies, guidelines, and legislation; III - receive newly arrived civil servants, monitor the adaptation period, and propose relocations when necessary; IV – carry out initial attendance for internal public on matters related to the superintendence's competencies; IV – carry out initial attendance for active internal public on matters related to the superintendence's competencies; V – monitor service demands for the proposal of improvements and institutional actions aimed at improving the functioning of the human resources management area at CVM; VI – maintain service systems and internal human resources management portals; VII - ensure the integrity of data related to human resources management and promote its adequate use within the superintendence and CVM; VIII - manage and guide activities related to supplementary health; and IX – carry out other related activities. VI – manage and maintain internal human resources management systems and portals;

VII – ensure the integrity of data related to human resources management and promote its adequate use within the superintendence and CVM; VIII – manage, guide, and carry out activities related to the Integrated Subsystem for Civil Servant Health Care, vacations, allowances, and benefits; and IX – carry out other related activities.

Article 24-E included by CVM Resolution No. 186, of July 14, 2023
Items IV, VI, VII, VIII, and IX with wording given by CVM Resolution No. 201, of March 27, 2024

Art. 24-F. It is the responsibility of the Functional Registry and Monitoring Division – DIRAF:
Art. 24-F. It is the responsibility of the Functional Registry and Monitoring Management – GERAF:

Head with wording given by CVM Resolution No. 243, of May 20, 2026.

I – coordinate and carry out activities related to attendance, transfers, special hours, movements, secondments, control of occupied and vacant positions, and maintenance of registry and documentation; II – sign appointment terms and carry out necessary procedures for the appointment and designation of civil servants appointed to hold permanent or commissioned positions; III – supervise movements and secondments, execute the necessary routines for maintaining this workforce, and coordinate communication with the originating institutions; and IV – carry out other related activities

Article 24-F included by CVM Resolution No. 201, of March 27, 2024

Art. 24-G. It is the responsibility of the Inspector General’s Office – COR:
I - promote prevention and inspection activities to verify the regularity and effectiveness of services and propose corrective measures for their functioning; II - examine complaints and other correspondence dealing with functional irregularities and proceed with their admissibility judgments;

III - ensure compliance with the management registration of managing units; and IV - carry out other related activities.

Article 24-G included by CVM Resolution No. 201, of March 27, 2024

COMMISSION OF SECURITIES AND EXCHANGE
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – CEP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – CEP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – CEP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM RESOLUTION NO. 24, OF MARCH 5, 2021

III - determine the archiving of complaints and representations that are manifestly unfounded, or when the fact is proven not to constitute a disciplinary offense; IV - initiate or determine the initiation of inquiries and administrative disciplinary proceedings, ex officio or based on representations and complaints; V - judge and apply penalties in inquiries and administrative disciplinary proceedings; and VI - exercise the competencies provided for in Art. 5 of Decree No. 5,480, of June 30, 2005.

Article 24-G included by CVM Resolution No. 239, of January 9, 2026.

Art. 24-H. It is the responsibility of the Ombudsman – OUV:
I - receive, analyze and forward manifestations, requests for information, complaints, praises, complaints and suggestions regarding the acts of public agents and the services of the CVM, and monitor the treatment and effective conclusion of the demands received; II - ensure transparency in management and the quality of services; III - promote social participation in public administration; IV - propose improvements in work processes, regulations and procedures of the CVM; and V - exercise the activities of the Sectoral Integrity Unit (USI) at the CVM.

Article 24-H included by CVM Resolution No. 239, of January 9, 2026.

Art. 24-I. It is the responsibility of the Transparency and Access to Information Division – DLAI:
I – foster the culture of institutional transparency and the strengthening of social control, through training, communication and articulation actions with internal units; II – guide, together with those responsible for document management, the proper treatment of documents, processes and public and restricted access information, in accordance with applicable norms;

III – contribute to the permanent improvement of active organizational transparency practices, through the structured and proactive disclosure of information of public interest; IV – propose normative, methodological and technological instruments that improve transparency governance and access to information by the citizen; and V – exercise other related activities.

Article 24-I included by CVM Resolution No. 239, of January 9, 2026.

Section IV – Of the Competencies of the Specific Singular Body and of the Specific Technical Areas

Art. 25. It is the responsibility of the General Superintendence – SGE:
I – supervise, coordinate and monitor the activities of the other Superintendencies; I – supervise, coordinate and monitor the activities of the Superintendencies subordinate to it; II – coordinate technical cooperation agreements, conventions or similar instruments, in accordance with specific designations; III – coordinate the CVM's action in the National Strategy to Combat Corruption and Money Laundering – ENCCLA; IV – coordinate the CVM's action in international organizations and forums aimed at preventing or combating money laundering or terrorist financing, as well as the cooperation of the Autarchy with institutions linked to the theme; IV – coordinate the CVM's action in international organizations and forums aimed at preventing money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction – AML/CFT, as well as the cooperation of the Autarchy with institutions linked to the theme; V – coordinate the preparation of responses to demands formulated by control bodies or other institutions, when the subject is within the sphere of attributions of the SGE; VI – decide on the initiation of an administrative inquiry to investigate indications of violations of securities market norms and the extension of the respective instruction deadlines;

VII – establish operational procedures related to the monitoring, recording and evaluation of institutional goals; VII - establish, within its scope of competence, operational procedures related to the monitoring, recording and evaluation of institutional goals; VIII – coordinate the Commitment Term Committee – CTC; IX – make communications to the Public Prosecutor's Office, when there is evidence of a crime defined by law as a public action, and to other bodies or entities, when there is evidence of offenses in areas subject to their respective actions; X – propose to the Presidency of the CVM the name of its representative on the Financial Activities Control Council – Coaf; and XI – exercise other related activities.

Item IV with wording given by CVM Resolution No. 40, of July 21, 2021.
Items I and VII with wording given by CVM Resolution No. 203, of May 23, 2024.

Art. 26. It is the responsibility of the General Management of Processes – GGE:
I – advise the SGE within the scope of the coordination of the CTC; II – prepare draft reports and opinions within the scope of the CTC and coordinate the adoption of measures resulting from negotiations of commitment term proposals; III – propose agendas for CTC meetings and review draft Commitment Terms; IV – analyze draft decisions of the General Superintendent on challenges to the assessment of the supervision fee; IV – analyze draft decisions of the General Superintendent regarding appeals against decisions on challenges to the assessment of the supervision fee;

Item IV with wording given by CVM Resolution No. 40, of July 21, 2021, and effective from November 1, 2021.

V – prepare other drafts or advise the SGE in accordance with specific designations; and VI – exercise other related activities.

Art. 27. It is the responsibility of the Superintendence of Company Relations – SEP:
I – act in the activities of registration, supervision, guidance, sanctioning and support for regulation in the scope of open companies, foreign companies and incentivized companies; II – supervise and inspect the provision of periodic and occasional information, as well as the conduct of administrators and shareholders of open companies, beneficiaries of tax incentives registered and foreign companies with company registration at the CVM; III – suspend and cancel ex officio, in accordance with regulation, registrations of open, foreign and incentivized companies registered at the CVM; and IV – exercise other related activities.

Art. 28. It is the responsibility of the Company Monitoring Manageries 1 and 2 – GEA-1 and GEA-2:
I – supervise and inspect the disclosure by open and foreign companies with company registration at the CVM, their administrators or shareholders, of periodic and occasional information; II – respond to inquiries from open and foreign companies with company registration at the CVM; III – analyze requests for company registration, as well as the update of registrations in public distribution offers; IV- analyze requests for voluntary cancellation of registration of open and foreign companies registered at the CVM; V – prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and VI – exercise other related activities.

Art. 29. It is the responsibility of the Company Monitoring Manageries 3 and 4 – GEA-3 and GEA-4:

I – supervise and inspect the conduct of administrators and shareholders of open companies, registered beneficiaries of tax incentives and foreign companies with company registration at the CVM; II – analyze complaints and complaints involving open, incentivized and foreign companies with company registration at the CVM; III – analyze requests for interruption or suspension of the deadline for calling assemblies; IV – instruct sanctioning administrative processes, prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and V – exercise other related activities.

Art. 30. It is the responsibility of the Company Monitoring Management 5 – GEA-5:
I – supervise and inspect the economic-financial information and financial statements of open and incentivized companies registered at the CVM; II – determine republication and reapresentation of financial statements of open companies; III – subsidize the analysis of requests for company registration, as well as the update of registrations in public distribution offers, with regard to the analysis of financial statements of open companies; IV – analyze inquiries and complaints involving financial statements of open and incentivized companies registered at the CVM; V – instruct sanctioning administrative processes, prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and VI – exercise other related activities.

Art. 30-A. It is the responsibility of the Division of Monitoring of Incentivized Companies – DAIN:
I – act in the activities of registration, supervision, guidance and support for regulation in the scope of incentivized companies;

II – support the superintendence in management and planning activities; III – assist, based on data analysis, the supervision of companies within the superintendence; and IV – exercise other related activities.

Article 30-A included by CVM Resolution No. 186, of July 14, 2023

Art. 31. It is the responsibility of the Securities Registration Superintendence – SRE:
I – act in the activities of registration, supervision, guidance, sanctioning and support for regulation in the scope of public offers of securities, except situations that are within the scope of the Superintendence of Securitization Supervision; I – act in the activities of registration, supervision, guidance, sanctioning and support for regulation in the scope of public offers of securities, except situations that are within the scope of the Securitization and Agribusiness Superintendence or the Strategic Risk Supervision Superintendence; II – supervise and inspect Brazilian Depositary Receipts levels II and III programs; III – supervise and inspect consortium urban operations and issuers of collective hotel investment contracts, excluding the specific competencies of the Securitization Supervision Superintendence; IV – supervise and inspect, while there is a public distribution offer of securities in progress or securities admitted to trading, unregistered issuers at the CVM; and V – exercise other related activities.

II - act in the activities of registration, supervision, guidance, sanctioning and support for regulation in the scope of the action of coordinators of public distribution offers of securities; III – supervise and inspect Brazilian Depositary Receipts levels II and III programs;

IV – supervise and inspect consortium urban operations and issuers of collective hotel investment contracts, excluding the specific competencies of the Securitization and Agribusiness Superintendence; V – supervise and inspect, while there is a public distribution offer of securities in progress or securities admitted to trading, unregistered issuers at the CVM; and VI – exercise other related activities.

Item VI included and items II to V with wording given by Resolution No. 186, of July 14, 2023
Item I with wording given by CVM Resolution No. 228, of April 16, 2025.

Art. 32. It is the responsibility of the Registration Manageries 1 and 2 – GER-1 and GER-2:
I – analyze requests for registration or exemptions related to public offers of acquisition or distribution of securities; II – supervise and inspect public offers of acquisition or distribution of securities, submitted for registration or exempt from registration, as well as the delivery of post-offer documentation; II – supervise and inspect public offers of acquisition or distribution of securities, submitted for ordinary or automatic registration or exempt from registration or conducted without due registration, except situations that are within the scope of the Securitization and Agribusiness Superintendence;

Item II with wording given by Resolution No. 186, of July 14, 2023
III – supervise and inspect Brazilian Depositary Receipts levels II and III programs; IV – supervise and inspect consortium urban operations and issuers of collective hotel investment contracts, excluding the specific competencies of the Securitization Supervision Superintendence and, while there is a public distribution offer of securities in progress or securities admitted to trading, other unregistered issuers at the CVM; V – instruct sanctioning administrative processes, prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and

VI – exercise other related activities.

IV – supervise and inspect consortium urban operations and issuers of collective hotel investment contracts, excluding the specific competencies of the Securitization and Agribusiness Superintendence; V – supervise and inspect unregistered issuers regarding the delivery of periodic information, while there is a public distribution offer of securities in progress or securities admitted to trading; VI– instruct sanctioning administrative processes, prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and VII– exercise other related activities.

Item VII included and items IV to VI with wording given by Resolution No. 186, of July 14, 2023

Art. 33. It is the responsibility of the Registration Management 3 – GER-3:
I – supervise and inspect public offers of securities exempt from registration or conducted without due registration, except situations that are within the scope of the Securitization Supervision Superintendence; II – supervise and inspect the conduct of unregistered issuers, as well as the delivery of post-offer documentation; III – instruct sanctioning administrative processes, prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and IV – exercise other related activities.

I - analyze registration requests related to the action of coordinators of public distribution offers of securities; II – supervise and inspect public distribution offers of securities, submitted for automatic registration or conducted without due registration, except situations that are within the scope of the Securitization and Agribusiness Superintendence;

III – supervise and inspect the action of coordinators of public distribution offers of securities; IV – supervise and inspect unregistered issuers regarding the delivery of periodic information, while there is a public distribution offer of securities in progress or securities admitted to trading; V – instruct sanctioning administrative processes, prepare terms of accusation and proposals for administrative inquiries and verify compliance with commitment terms; and VI – exercise other related activities.

Items V and VI included and items I to IV with wording given by Resolution No. 186, of July 14, 2023

Art. 33-A. It is the responsibility of the Information and Systems Management Sector - SEGIS:
I - manage activities related to the development, evolutionary and corrective maintenance, and provide internal and external support to the Offer Registration System - Sistema SRE, as well as manage the respective technical cooperation agreements that govern the development of Sistema SRE; II - manage, treat and ensure the quality of information and data from the systems under the responsibility of the Securities Registration Superintendence - SRE; III - produce and make available information, data and reports related to public offers of securities and the SRE systems; IV - provide technical and operational support to the other components of the SRE in the treatment of administrative processes, including regarding the granting of views; V - execute administrative and technical support activities necessary for the proper functioning of the SRE; and VI – exercise other related activities.

Article 33-A included by CVM Resolution No. 243, of May 20, 2026.

Art. 34. It is the responsibility of the Institutional Investor Supervision Superintendence – SIN:
I – act in the activities of registration, supervision, guidance, sanctioning and support for regulation in the scope of non-resident investors, investment clubs, portfolio managers, securities consultants, securities analysts and investment funds, except those that involve securitization or real estate activity, investment companies and brazilian depositary receipts under the competence of the Securitization Supervision Superintendence; and I – act in the activities of registration, supervision, guidance, sanctioning and support for regulation in the scope of non-resident investors, investment clubs, portfolio managers, securities consultants, securities analysts, investment funds, brazilian depositary receipts level I and brazilian depositary receipts of ETF, except those that involve securitization or real estate activity and investment companies under the competence of the Securitization and Agribusiness Superintendence;

Item I with wording given by Resolution No. 186, of July 14, 2023
II – exercise other related activities.

Art. 35. It is the responsibility of the Fund Monitoring Management – GIFI:
I – supervise and inspect the disclosure of information by clubs and investment funds, except those that involve securitization or real estate activity; II – analyze requests for registration and registration of funds and investment clubs; III – propose sanctioning measures; and IV – exercise other related activities.

Art. 36. It is the responsibility of the Institutional Investor Monitoring Management – GAIN:
I – supervise and inspect portfolio managers, securities consultants and securities analysts; II – supervise and inspect the investments made by non-resident investors;

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, 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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

III – analyze requests for registration and enrollment of non-resident investors, portfolio administrators, securities consultants, and securities analysts; IV – propose sanctioning measures; and V – exercise other related activities.

Art. 37. It is the responsibility of the Fund Sanctioning Management – GSAF:
I – evaluate the proposals for sanctioning measures offered by other supervision areas and, as appropriate, instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and II – exercise other related activities.

Art. 38. It is the responsibility of the Investment Fund Supervision Section – SEFIS:
Art. 38. It is the responsibility of the Investment Fund Supervision Sector – SEFIS:

Caput with wording given by CVM Resolution No. 186, of July 14, 2023
I – supervise and inspect conduct deviations practiced by non-resident investors, portfolio administrators, securities consultants, and securities analysts; II – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries regarding matters under its supervision, and verify compliance with terms of commitment; and III – exercise other related activities.

Art. 39. It is the responsibility of the Market and Intermediaries Relations Superintendence – SMI:
I – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of entities administering organized markets, clearing and settlement, custodians, registrars, central depositories, brokers, distributors, autonomous investment agents, and self-regulatory entities;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

I – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of entities administering organized markets, clearing and settlement, custodians, registrars, central depositories, brokers, distributors, investment advisors, and self-regulatory entities;

Item I with wording given by CVM Resolution No. 179, of February 14, 2023.
II – analyze bylaws, operational regulations, procedure manuals, and norms of entities administering organized markets and clearing and settlement, and of providers of centralized deposit services; III – analyze contractual specifications of derivatives subject to trading in an organized market; IV – propose the approval or disapproval of requests for authorization to operate organized markets and their respective administering entities, for the provision of centralized deposit services, and for the installation of screens for access to trading on foreign stock exchanges; V – suspend the irregular intermediation of securities in the market, by persons not part of the distribution system, in accordance with art. 15 of Law No. 6.385, of December 7, 1976, and the activity of autonomous investment agents in disagreement with applicable legislation; V – suspend the irregular intermediation of securities in the market, by persons not part of the distribution system, in accordance with art. 15 of Law No. 6.385, of December 7, 1976, and the activity of investment advisors in disagreement with applicable legislation;
Item V with wording given by CVM Resolution No. 179, of February 14, 2023.
VI – suspend, under penalty of daily fine, the irregular intermediation or the public dissemination of any investment offer, without the competent registration with the Autarchy, in the market known as Forex (Foreign Exchange), directly or indirectly, including through pages or any other form of Internet connection; and VII – exercise other related activities.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

VII – decide, in the cases and conditions provided for in specific regulation, appeals presented to the CVM against decisions that have denied requests formulated to the Loss Compensation Mechanism; and VII – REVOKED

Item VII revoked by CVM Resolution No. 220, of November 11, 2024.
VIII – exercise other related activities.
Item VIII included and item VII with wording given by CVM Resolution No. 40, of July 21, 2021.

Art. 39. It is the responsibility of the Market and Intermediaries Relations Superintendence – SMI:
I – act in the activities of registration, guidance, sanctioning, and support for standardization within the scope of entities administering organized markets, clearing and settlement, custodians, registrars, central depositories, securities intermediaries, investment advisors, and self-regulatory entities; II – supervise and inspect the operations carried out in organized markets, the entities administering organized markets, clearing and settlement, custodians, registrars, central depositories, brokers, distributors, investment advisors, and self-regulatory entities; II – supervise and inspect the entities administering organized markets, clearing and settlement, custodians, registrars, central depositories, brokers, distributors, investment advisors, and self-regulatory entities;

Item II with wording given by CVM Resolution No. 239, of January 9, 2026.
III – approve or disapprove, except in cases of exclusive competence of the Collegiate Body, bylaws, operational regulations, procedure manuals, and norms of entities administering organized markets and clearing and settlement, and of providers of centralized deposit services;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

IV – approve or disapprove the contractual specifications of derivatives subject to trading in an organized market; V – propose the approval or disapproval of requests for authorization to operate organized markets and their respective administering entities, for the provision of centralized deposit services, and for the installation of screens for access to trading on foreign stock exchanges; VI – suspend the irregular intermediation of securities in the market, by persons not part of the distribution system, in accordance with art. 15 of Law No. 6.385, of December 7, 1976; VII – suspend the activity of investment advisors in disagreement with applicable legislation; VIII – suspend the public offer of derivatives without the competent registration with the Autarchy, directly or indirectly, including through pages or any other form of Internet connection; and IX – exercise other related activities.

Article 39 with wording given by CVM Resolution No. 228, of April 16, 2025.

Art. 40. It is the responsibility of the Market Monitoring Management 1 and 2 – GMA-1 and GMA-2:
I – supervise and inspect the operations carried out in organized markets, the market monitoring activities carried out by self-regulators, and the compliance with the norms and regulations of market administering entities; II – analyze price stabilization contracts and securities lending contracts within the scope of public offers and derivative contracts admitted to trading in organized markets; III – analyze the effectiveness of Internal Controls, Corporate Risks, compliance with principles for financial market infrastructures, and measures for the prevention and combating of money laundering and terrorist financing implemented by market administrators; IV – analyze contractual specifications of derivatives subject to trading in an organized market;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

V – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and VI – exercise other related activities.

Art. 40. It is the responsibility of the Market Monitoring Management – GMA:
I – supervise and inspect the operations carried out in organized markets, the market monitoring activities carried out by self-regulators and intermediaries; II – analyze communications and complaints involving potential market illicit acts; III – analyze price stabilization contracts and securities lending contracts within the scope of public offers and derivative contracts admitted to trading in organized markets; IV – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and V – exercise other related activities.

Article 40 with wording given by CVM Resolution No. 228, of April 16, 2025.
Article 40 revoked by CVM Resolution No. 239, of January 9, 2026.

Art. 40-A. It is the responsibility of GIMOR - Management of Infrastructures and Organized Markets:
I – analyze requests for authorization to operate organized markets and their respective administering entities, for the provision of centralized deposit services, and for the installation of screens for access to trading on foreign stock exchanges; II – supervise and inspect the entities administering organized markets, clearing and settlement, central depositories, and self-regulatory entities; III – analyze bylaws, rules, and internal procedures of entities administering organized markets and clearing and settlement, providers of centralized deposit services, and self-regulatory entities;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

IV – analyze the effectiveness of Internal Controls, Corporate Risks, compliance with principles for financial market infrastructures, and measures for the prevention and combating of money laundering and terrorist financing implemented by market administrators and providers of centralized deposit services; V – analyze contractual specifications of derivatives subject to trading in an organized market; VI – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and VII – exercise other related activities.

Article 40-A included by CVM Resolution No. 228, of April 16, 2025.

Art. 41. It is the responsibility of the Business Analysis Management – GMN:
I – supervise and inspect the rules, procedures, and internal controls applied by intermediaries authorized to act in organized markets, which perform product recommendation, operation execution, and service provision; II – analyze the results of audit activities of persons authorized to operate and of supervision and inspection carried out by self-regulation; III – maintain information and data obtained from self-regulators and from the Central Bank of Brazil; IV – analyze the effectiveness of measures for the prevention and combating of money laundering and terrorist financing, implemented by self-regulators and market intermediaries; V – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and VI – exercise other related activities.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

VI – analyze appeals against decisions of self-regulatory entities within the scope of the Loss Compensation Mechanism; and VI - REVOKED

Item VI revoked by CVM Resolution No. 220, of November 11, 2024.
VII – exercise other related activities.
Item VII included and item VI with wording given by CVM Resolution No. 40, of July 21, 2021.

Art. 41. It is the responsibility of the Intermediaries Supervision Management – GSUI-1:
I – supervise and inspect the rules, procedures, and internal controls applied by intermediaries authorized to act in organized markets, which perform product recommendation, operation execution, and service provision; II – supervise and inspect the results of audit activities of persons authorized to operate and of supervision and inspection carried out by self-regulation; III – supervise and inspect the administrative procedures instituted by self-regulation; IV – supervise and inspect the legal entities authorized by the CVM to provide securities custody services; IV – supervise and inspect the legal entities authorized by the CVM to provide securities custody services, as well as the activities of self-regulatory entities of securities custodians; V – maintain information and data obtained from self-regulators and from the Central Bank of Brazil; VI – supervise and inspect the effectiveness of measures for the prevention and combating of money laundering and terrorist financing, implemented by self-regulators and market intermediaries; VII – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and VIII – exercise other related activities.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Article 41 with wording given by CVM Resolution No. 228, of April 16, 2025.
Item IV with wording given by CVM Resolution No. 243, of May 20, 2026.

Art. 42. It is the responsibility of the Market Structure and Electronic Systems Management – GME:
I – analyze requests for authorization to operate custodians and registrars of securities and for enrollment of multiple banks without investment portfolio and credit cooperatives to act in the securities market; II – maintain the registry of institutions authorized by the Central Bank of Brazil that can act in the securities market, as brokers and distributors of securities; III – analyze appeals against decisions of self-regulatory entities within the scope of the Loss Compensation Mechanism; III – supervise and inspect the activities of organized market administering entities regarding the Loss Compensation Mechanisms, or entities constituted exclusively or contracted for this purpose.

Item III with wording given by CVM Resolution No. 220, of November 11, 2024.
IV – supervise and inspect the activities of accrediting entities and self-regulatory entities of autonomous investment agents and of self-regulatory entities of custodians and registrars of securities; IV – supervise and inspect the activities of accrediting entities and self-regulatory entities of investment advisors and of self-regulatory entities of custodians and registrars of securities;
Item IV with wording given by CVM Resolution No. 179, of February 14, 2023.
V – propose acts of suspension of offers and irregular activities of derivatives, including Forex, and of irregular intermediation of securities; VI – handle judicial demands related to information on the existence of securities and asset blocking; and

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

VII – exercise other related activities.

Art. 42. It is the responsibility of the Intermediaries Supervision Management – GSUI-2:
I – analyze requests for authorization to operate custodians and registrars of securities and commodity brokers; II – analyze requests for acting in the securities market by securities intermediaries: brokers, distributors, investment banks, and multiple banks with investment portfolio; III – maintain the registries of entities administering organized markets, central depositories of securities, and other participants supervised by the SMI; IV – supervise and inspect the compliance, by participants supervised by the SMI, with obligations related to the maintenance of their registry data; V – supervise and inspect the activities of organized market administering entities regarding the Loss Compensation Mechanisms, or entities constituted exclusively or contracted for this purpose; VI – supervise and inspect the activities of accrediting entities and self-regulatory entities of investment advisors and of self-regulatory entities of custodians and registrars of securities; VII – investigate indications of irregular offers and activities of derivatives and of irregular intermediation of securities, proposing, when applicable, acts of precautionary suspension of activities and adoption of sanctioning measures; VIII – supervise and inspect investment advisors and the intermediaries that hire them, and securities registrars; IX – handle judicial demands related to information on the existence of securities and asset blocking; and X – exercise other related activities.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

I - supervise and inspect the activities of organized market administering entities regarding the Loss Compensation Mechanisms, or entities constituted exclusively or contracted for this purpose; II - supervise and inspect the activities of accrediting entities and self-regulatory entities of investment advisors; III - investigate indications of irregular offers and activities of derivatives and of irregular intermediation of securities, proposing, when applicable, acts of precautionary suspension of activities and adoption of sanctioning measures; IV - analyze and respond to consultations regarding securities intermediation services abroad, as well as guide participants regarding applicable regulation; V - supervise and inspect investment advisors and the intermediaries that hire them; VI - handle judicial demands related to information on the existence of securities and asset blocking; VII - instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; and VIII - exercise other related activities.

Article 42 with wording given by CVM Resolution No. 228, of April 16, 2025.
Items I to VIII with wording given by CVM Resolution No. 243, of May 20, 2026.

VII – instruct administrative sanctioning processes, draft terms of accusation and proposals for administrative inquiries, and verify compliance with terms of commitment; VIII – maintain the registries of entities administering organized markets, central depositories of securities, and other participants supervised by the SMI; IX – REVOKED; X – REVOKED;

COMMISSION OF SECURITIES AND EXCHANGE
Sete de Setembro Street, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Cincinato Braga Street, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br CVM RESOLUTION NO. 24, OF MARCH 5, 2021

XI – supervise and monitor compliance, by participants supervised by the SMI, of obligations related to the maintenance of their registration data; and XII – carry out other related activities.

Items IX and X revoked by CVM Resolution No. 243, of May 20, 2026.
Items VII and VIII with wording given and Items XI and XII included by CVM Resolution No. 246, of July 30, 2026.

Art. 42-A. It is the responsibility of the Compensation Mechanisms Section – SEMER:
Art. 42-A. It is the responsibility of the Compensation Mechanisms Sector – SEMER:

Headings with wording given by CVM Resolution No. 186, of July 14, 2023
I – analyze appeals against decisions of self-regulatory entities within the scope of Compensation Mechanisms for Damages; II – supervise the activities of self-regulatory entities with regard to Compensation Mechanisms for Damages; and III – carry out other related activities.
Article 42-A included by CVM Resolution No. 40, of July 21, 2021.

Art. 42-A – REVOKED

Art. 42-A revoked by CVM Resolution No. 220, of November 11, 2024.

Art. 42-B. It is the responsibility of the Market Monitoring Section – SEMOM:
Art. 42-B. It is the responsibility of the Market Monitoring Sector – SEMOM:
Art. 42-B. It is the responsibility of the Statistics and Market Monitoring Division - DEMON:

Headings with wording given by CVM Resolution No. 239, of January 9, 2026.
Headings with wording given by CVM Resolution No. 243, of May 20, 2026.

I – develop and improve methodologies and tools for the detection of patterns and behaviors indicative of irregularities occurring in trading environments; II – administer and maintain databases related to transactions carried out in the securities market; II – define and administer information requirements and structures with market administrator entities; III – carry out continuous monitoring of indicators related to transactions carried out in the securities market in order to support the action of the SMI in the supervision of the secondary securities market; and IV – carry out other related activities.

Article 42-B included by CVM Resolution No. 228, of April 16, 2025.
Item II with wording given by CVM Resolution No. 246, of July 30, 2026.

Art. 42-C. It is the responsibility of the Intermediaries Supervision Division - DSUI:
I - analyze requests for authorization to operate custodians and registrars of securities and commodity brokers; II - analyze requests for operation in the securities market by securities market intermediaries: brokers, distributors, investment banks and multiple banks with investment portfolios; III - supervise and monitor the activities of self-regulatory entities for securities registrars; IV - supervise and monitor securities registrars; V - instruct administrative sanctioning processes, draft accusations and proposals for administrative inquiries and verify compliance with terms of commitment; and VI – carry out other related activities.

Article 42-C included by CVM Resolution No. 243, of May 20, 2026.

Art. 43. It is the responsibility of the Strategic Risk Supervision Superintendence – SSR:
I – supervise and monitor the activities, services and participants of the securities market that are related to topics considered strategic by the Collegiate or by the CVM Risk Management Committee; II – act in conjunction with other superintendencies in the improvement of databases and investigation techniques, as well as in other activities approved by the CVM Risk Management Committee; and III – carry out other related activities. II – act in conjunction with other superintendencies in the improvement of databases and investigation techniques, as well as in other activities approved by the CVM Risk Management Committee; III – act in inspection, supervision, guidance, sanctioning and support for regulation activities within the scope of collective investment contracts involving digital assets or other innovative assets, except for situations that are within the competence of other superintendencies; and II – act in activities approved by the CVM Risk Management Committee; III - act in inspection, supervision, guidance, sanctioning and support for regulation activities within the scope of any securities or collective investment contracts, in accordance with item IX of Art. 2 of Law No. 6.385, of 1976, involving digital assets or other innovative assets, except for situations that are within the competence of other superintendencies; and IV – carry out other related activities.

Items II, III and IV with wording given by CVM Resolution No. 203, of May 23, 2024. For conditions of validity and temporality, check articles 2 and 4 of CVM Resolution No. 203, of May 23, 2024.
Items II and III with wording given by CVM Resolution No. 233, of July 14, 2025.

Art. 44. It is the responsibility of the Strategic Risk Supervision Intelligence Management – GRID:

I – develop, based on data extraction, processing and analysis, mechanisms that assist in the selection of market participants for inspection; II – develop methodologies and information systems that improve CVM inspection and supervision processes; III – act in the improvement of CVM databases, in the development of investigation techniques, as well as in other activities approved by the CVM Risk Management Committee; and III – act in the improvement of CVM databases, in the development of investigation techniques, as well as in other activities approved by the CVM Risk Management Committee;

Item III with wording given by CVM Resolution No. 159, of July 8, 2022.
IV – carry out other related activities.
IV – promote the culture of analysis and data science, as well as methods, techniques and technologies related to the theme, including through the development of solutions; and
Item IV with wording given by CVM Resolution No. 159, of July 8, 2022.
V – carry out other related activities.
Item V renumbered by CVM Resolution No. 159, of July 8, 2022.
I – act in inspection, supervision, guidance, sanctioning and support for regulation activities within the scope of any securities or collective investment contracts, in accordance with item IX of Art. 2 of Law No. 6.385, of 1976, involving digital assets or other innovative assets, except for situations that are within the competence of other superintendencies; II – act in the supervision and inspection of activities, services and participants of the securities market that are related to topics considered strategic by the Collegiate or by the CVM Risk Management Committee, especially in the development of data science tools that assist in the selection of market participants for inspection; III – instruct administrative sanctioning processes; and

IV – carry out other related activities.

Items I to IV with wording given by CVM Resolution No. 233, of July 14, 2025.

Art. 45. It is the responsibility of the Strategic Risk Supervision Managements 1 and 2 – GSR-1 and GSR-2:
I – supervise and monitor the activities, services and participants of the securities market that are related to topics considered strategic by the Collegiate or by the CVM Risk Management Committee; II – instruct administrative sanctioning processes; and III – carry out other related activities.

Art. 46. It is the responsibility of the Sanctioning Processes Superintendence – SPS:
I – conduct administrative inquiries to investigate illegal acts or violations of regulation in the securities market; II – control and act in the instruction of administrative sanctioning processes from the preparation of the accusation; and III – carry out other related activities.

Art. 47. It is the responsibility of the Investigation Intelligence Management – GIIN:
I – provide operational and managerial support to the Sanctioning Processes Superintendence for the collection and analysis of information and production of evidence, as well as in the optimization of workflows; II – develop or evaluate new investigation methods, techniques and technologies and act in their experimentation, training and facilitation of use; III – establish partnerships with other agencies focused on investigation; and IV – carry out other related activities.

Art. 47 revoked by CVM Resolution No. 233, of July 14, 2025.

Art. 48. It is the responsibility of the Sanctioning Processes Managements 1, 2 and 3 – GPS-1, GPS-2 and GPS-3:

I – instruct administrative inquiries and carry out inspections to investigate illegal acts or violations of regulation in the securities market; II – plan and execute inspections in order to collect indications and evidence of possible irregularities; III – interact with other agencies in order to obtain relevant information for the elucidation of facts; and IV – carry out other related activities.

Art. 49. It is the responsibility of the Administrative Processes Control Division – CCP:
Art. 49. It is the responsibility of the Sanctioning Processes Control Management – GCP:

Headings with wording given by CVM Resolution No. 40, of July 21, 2021.
I – carry out citations and summonses in administrative sanctioning processes; II – grant electronic access and copies of the records to the accused in administrative sanctioning processes; III – carry out communications of the Collegiate's decisions related to proposals for terms of commitment; IV – secretariat the judgment sessions of administrative sanctioning processes, as well as draft their minutes; V – forward fine guides to accused persons fined in administrative sanctioning processes; VI – coordinate the production of managerial information related to administrative sanctioning processes; and VII – carry out other related activities.

Art. 50. It is the responsibility of the Investor Protection and Orientation Superintendence – SOI:
Art. 50. It is the responsibility of the Investor Orientation and Sustainable Finance Superintendence – SOI:

I – plan, coordinate and supervise the activities of service provision to investors and the general public, establishing citizen service mechanisms; II – analyze formal complaints presented by the general public regarding the performance of market participants; III – coordinate advisory committees focused on investor and public protection and education; IV – build partnerships with public and private entities that contribute to investor and citizen protection and education; V – develop or coordinate actions and studies in sustainable finance; and VI – carry out other related activities. I – plan, coordinate and supervise the activities of service provision to investors and the general public; II - monitor and process formal complaints presented by the general public regarding the performance of market participants; III - make available information and reports on inquiries, complaints and denunciations, to support the normative, orientation and supervision work of other technical areas; IV – coordinate committees, partnerships and external working groups focused on investor and public protection and education; V – develop and coordinate actions and studies in sustainable finance; VI - coordinate and execute activities and services resulting from the Access to Information Law; and VII – carry out other related activities. V – disseminate knowledge in sustainable finance; VI – develop technical solutions to support CVM supervision and regulation activities on topics related to sustainability;

VII – coordinate and execute activities and services resulting from the Access to Information Law; and VIII – carry out other related activities.

Item VII included and items I to VI with wording given by CVM Resolution No. 186, of July 14, 2023
Headings and items V to VIII with wording given by CVM Resolution No. 203, of May 23, 2024.

Art. 51. It is the responsibility of the Investor Orientation Managements 1 and 2 – GOI-1 and GOI-2:
I – provide service to investors and the general public; II – instruct administrative processes for inquiries, suggestions, complaints and denunciations by investors and the general public; III – plan, organize, control and execute activities and services resulting from the Access to Information Law; IV – plan, organize, control and execute the granting of views of documents and non-sanctioning administrative processes; and V – carry out other related activities.

Art. 51. It is the responsibility of the Investor Service and Orientation Management – GOI:
I – provide service to investors and the general public; II – conduct administrative processes for inquiries, suggestions, complaints and denunciations by investors and the general public; III – supervise the ombudsman service within the scope of the securities market; IV - make available information and reports on inquiries, complaints and denunciations, to support the normative, orientation and supervision work of other technical areas; V - ensure data integrity and promote its adequate use within the superintendence; and VI – carry out other related activities.

Article 51 with wording given by Resolution No. 186, of July 14, 2023

Art. 52. It is the responsibility of the Financial Education Division – COE:
I – prepare, update and make available CVM educational publications, specialized in finance and capital markets; II – administer and update CVM's educational pages and profiles on the Internet with information and publications about educational projects and actions carried out; III – publicize and promote educational campaigns, educational events and educational information on CVM's social networks; IV – prepare and offer virtual courses on financial education; V – organize, promote and hold cultural contests stimulating interest, reflection, research and discussion of participants on topics related to the capital market, savings and financial matters; VI – organize, promote and hold events for investors, public servants, university students, young people and the general public on financial education; and VII – carry out other related activities.

Art. 52. It is the responsibility of the Financial Education and Inclusion Management – GEIF:
I – prepare, organize and offer educational courses and publications; II – administer and update CVM's educational pages and profiles on the Internet; III – organize and promote educational campaigns and events and cultural contests; IV – prepare studies and research on investor behavior and related topics; V – prepare, develop and implement innovation projects in financial education; VI – evaluate CVM's financial education initiatives; and VII – carry out other related activities.

Article 52 with wording given by Resolution No. 186, of July 14, 2023

Art. 52-A. It is the responsibility of the Innovation and Sustainable Finance Division – DIFIS:
Art. 52-A. It is the responsibility of the Innovation and Sustainable Finance Management – GEFIS:
I- develop and coordinate actions and studies in sustainable finance; II- coordinate the structuring and execution of the action plan linked to CVM's Sustainable Finance Policy; III- coordinate CVM's participation in sustainable finance forums; and IV- carry out other related activities.

Article 52-A included by Resolution No. 186, of July 14, 2023
Headings of article 52-A with wording given by CVM Resolution No. 203, of May 23, 2024.

Art. 53. It is the responsibility of the Information Management Division – DINF:
I – plan, organize and control the activities of protocol and management of the CVM's documentary archive; II – propose norms related to document management at CVM; III – guide and supervise routines related to the management of archived documents, according to current legislation; IV – coordinate CVM's participation in forums dealing with the integration of electronic administrative process systems and document management; V – manage electronic administrative process systems; VI – plan, organize, control and execute activities and services resulting from the Access to Information Law; and VII – carry out other related activities.

Art. 53. REVOKED

Article 53 revoked by CVM Resolution No. 186, of July 14, 2023.

Art. 54. It is the responsibility of the Behavioral Studies and Research Center – CECOP:
I – prepare studies and research and organize lectures and events on investor behavior and related topics; II – evaluate CVM's financial education initiatives; III – prepare, develop and implement innovation projects in financial education; IV – prepare and keep up to date educational products with behavioral content, such as publications, presentations and Internet pages with themes related to its area of operation; and V – carry out other related activities.

Art. 54. REVOKED

Article 54 revoked by CVM Resolution No. 186, of July 14, 2023.

Art. 55. It is the responsibility of the International Relations Superintendence – SRI:
I – advise the President on prioritizing political and technical representation trips by CVM in international organizations and integration blocs; II – represent CVM in evaluation processes conducted by international organizations and proceed with the corresponding internal coordination; III – represent CVM in international organizations and forums composed of regulatory agencies and other organisms active in the securities market and in the international areas of the Ministries; IV – administer the execution of technical cooperation agreements, exchange of joint inspection information between CVM and corresponding organisms of other countries; V – follow international discussions and debates related to the integration and internationalization of capital markets; and VI – carry out other related activities.

COMMISSION OF SECURITIES AND EXCHANGE (CVM)
Rua Sete de Setembro, 111/2-5º and 23-34º Floors, Center, 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 RESOLUTION NO. 24, OF MARCH 5, 2021

Art. 56. It is the responsibility of the International Relations Management – GRI:
I – to implement the exchange of information between the CVM and similar entities or agencies abroad and to coordinate with the other Superintendencies; II – to coordinate the demands of the Superintendencies in formulating technical consultations to foreign regulators and in responding to similar consultations originating from foreign regulators or other international organizations; III – to coordinate the execution of work related to the representation of the CVM before international organizations and forums and cooperation with multilateral organizations, international cooperation agencies, and with embassies, consulates, and other international entities regarding studies, evaluations, and technical cooperation; IV – to coordinate visits of representatives of foreign regulators or international organizations to the CVM; and V – to perform other related activities.

Art. 57. It is the responsibility of the Market Development Superintendency – SDM:
I – to conduct standardization processes on matters within the competence of the CVM, with the exception of accounting standards; II – to prepare studies, including regulatory impact assessments, projects, and standards aimed at the development of the securities market; III – to act, together with other organizational components, in the preparation, revision, and adjustment of the CVM’s normative acts, adapting them to the needs of the market; IV – to conduct public and restricted hearings with market participants regarding normative acts and market development; V – to plan and conduct the Regulatory Meetings of the Collegiate Body; VI – to propose to the Collegiate Body the regulatory agenda, with the topics to be prioritized in the subsequent fiscal year, and to present subsidies for discussion of matters in preliminary meetings; VII – to propose to the Collegiate Body the eventual establishment of maximum limits for prices, commissions, emoluments, and other advantages charged by entities operating in the securities market; VIII – to analyze and propose new wording for draft bills and projects, provisional measures, decrees, and resolutions that have an impact on the capital market or on the CVM’s regulatory perimeter; and IX – to perform other related activities.

Art. 58. It is the responsibility of the Standards Development Managements – GDN-1 and GDN-2:
I – to plan, coordinate, and supervise standardization activities, according to guidelines established by the Collegiate Body; II – to supervise, prepare, and revise the documents to be issued by the SDM; III – to coordinate internal discussions on standardization projects; IV – to conduct studies and analyses to assess the relevance and proportionality of issuing a standard and the adherence of the standardization project to other CVM standards and of the National Monetary Council and to international standards and norms; and V – to perform other related activities.

Art. 58-A. It is the responsibility of the Innovation and Regulatory Improvement Division - DIAR:
I - to plan and coordinate projects and actions aimed at innovation and improvement of the regulatory process; II - to coordinate committees, partnerships, and working groups aimed at regulatory experimentation in controlled environments, including prototyping initiatives, regulatory sandbox, and other related initiatives; III - to promote, internally and externally, initiatives of technical cooperation and exchange of experiences and dissemination of practices related to innovation and improvement of the regulatory process; IV - to promote initiatives aimed at strengthening regulatory governance, disseminating knowledge, and developing institutional capacities related to the regulatory process; V - to identify learnings resulting from regulatory experimentation and innovation initiatives to support the standardization activity conducted by other components of the SDM; and VI - to perform other related activities.

Article 58-A included by CVM Resolution No. 243, of May 20, 2026.

Art. 59. It is the responsibility of the Accounting and Audit Standards Superintendency – SNC:
I – to act in the activities of registration, supervision, inspection, guidance, and standardization within the scope of independent auditors and audit procedures; II – to propose accounting and audit standards to be observed by entities regulated by the CVM; III – to analyze proposals for republication or restatement of financial statements of companies and investment funds; IV – to supervise and inspect independent auditors and audit procedures within the scope of the CVM’s authority; and V – to perform other related activities.

Art. 60. It is the responsibility of the Audit Standards Management – GNA:
I – to propose audit standards to be observed by independent auditors registered with the CVM; II – to supervise and inspect independent auditors and audit procedures within the scope of the CVM’s authority; III – to instruct administrative processes, sanctioning administrative processes, and prepare statements of accusation and proposals for administrative inquiries; and IV – to perform other related activities.

Art. 61. It is the responsibility of the Accounting Standards Management – GNC:
I – to propose accounting standards to be observed by entities regulated by the CVM; II – to analyze proposals for republication or restatement of financial statements of companies and investment funds; III – to issue technical opinions on accounting policies and procedures to regulated entities and the general public; and IV – to perform other related activities.

Art. 61-A. It is the responsibility of the Auditor Registration and Registry Division - DICAR:
I - to act in the activities of registration, suspension, cancellation, and maintenance of the register of independent auditors; II - to act in activities related to the register of technical managers of independent auditors - legal entity; III - to propose standards related to the registration and registry of independent auditors; IV - to issue and control penalty fines related to independent auditors; V - to instruct administrative processes related to the competencies under its responsibility; and VI - to perform other related activities.

Article 61-A included by CVM Resolution No. 243, of May 20, 2026.

Art. 62. It is the responsibility of the Information Technology Superintendency – STI:
I – to align strategies, policies, products, and services of Information Technology – IT – with business needs and government policies; II – to coordinate the protection of information assets, proposing policies, managing technologies, and adopting measures that preserve information security; III – to act in the constant modernization of the structure, processes, and tools made available to users; IV – to provide IT governance guidelines, promoting the harmonization of initiatives undertaken by user areas; and V – to perform other related activities.

Art. 63. It is the responsibility of the Analytical Data Engineering Management – GDA:
I – to provide data supply solutions, expanding the capacity for analysis and judgment of users regarding information relevant to the decision-making process; II – to make data of interest to society available; III – to establish and manage the data architecture, defining structures through which data are processed, stored, and used; IV – to establish technical guidelines on the production, processing, use, dissemination, storage, and retention of data; and IV – to establish technical guidelines on the production, processing, use, dissemination, storage, and retention of data;

Item IV with wording given by CVM Resolution No. 159, of July 8, 2022.
V – to perform other related activities.
V – to assist in the preparation of normative documents on matters related to data transmission and reception; and
Item V with wording given by CVM Resolution No. 159, of July 8, 2022.
VI – to perform other related activities.
Item VI renumbered by CVM Resolution No. 159, of July 8, 2022.
Article 63 revoked by CVM Resolution No. 239, of January 9, 2026.

Art. 64. It is the responsibility of the Information Technology Governance and Management Management – GSG:
Art. 64. It is the responsibility of the Governance and Management Technology Division - DGOV:

Caput with wording given by CVM Resolution No. 40, of July 21, 2021.
I – to implement management mechanisms that support the formulation, breakdown, and monitoring of IT strategy; II – to systematize the work of the IT team to increase the value of delivered outputs, to rationalize the use of resources, and to facilitate the dissemination of acquired competencies; III – to monitor the results of the STI to mobilize people, improve processes, and adjust tools; IV – to ensure transparency and understanding of the benefits, strategies, costs, service levels, and other relevant aspects of the STI’s performance; and V – to perform other related activities.

Art. 65. It is the responsibility of the Systems Management – GSI:
I – to define, provide, and maintain functional, reliable, accessible, efficient, and portable applications and systems, as well as adherent to the business requirements and rules defined; II – to define, plan, and sustain system architecture and design that respond to current and potential needs for standardization, rationalization, and updating; III – to manage changes and configurations so that systems evolve in a planned, consistent, and harmonious manner, manifesting themselves in relation to technical and technological cost aspects; and IV – to constantly prospect new technologies that can generate value for the CVM; and V – to perform other related activities.

Art. 66. It is the responsibility of the Technology Management – GST:
I – to define and provide IT infrastructure services with adequate levels of availability, scalability, resilience, and sustainability; II – to define, plan, and sustain IT infrastructure architecture that responds to current and potential needs for standardization, rationalization, and updating; III – to manage changes and configurations so that IT infrastructure evolves in a planned, consistent, and harmonious manner; and IV – to perform other related activities.

Art. 67. It is the responsibility of the User Service Section – CSU:
Art. 67. It is the responsibility of the User Service Sector – CSU:

Caput with wording given by CVM Resolution No. 186, of July 14, 2023
Art. 67. It is the responsibility of the User Services and Solutions Division – DSSU:
I – to structure, operationalize, and maintain IT services for users; II – to offer support to IT service users, aiming at the resolution of calls and the resolution of problems associated with them; III – to monitor IT services for users and implement improvements in IT processes and solutions; and IV – to perform other related activities.
Caput of Art. 67 with wording given by CVM Resolution No. 203, of May 23, 2024.

Art. 67-A. It is the responsibility of the Cybersecurity Division – DCIS:
I – to coordinate information security and communications actions within the CVM, ensuring the confidentiality, integrity, availability, and authenticity of information assets; II – to propose, implement, and revise information security policies, standards, and procedures, in compliance with applicable standards and national and international best practices; III – to act as the technical unit responsible, within the scope of information and communications technology, for risk management, vulnerability treatment, and incident response; IV – to supervise the application and compliance of information security standards; V – to exercise the duties of the Information Security Manager, in accordance with Decree No. 12.572, of August 4, 2025; and VI – to perform other related activities.

Article 67-A included by CVM Resolution No. 239, of January 9, 2026.

Art. 68. It is the responsibility of the Planning and Innovation Superintendency – SPL:
I – to promote the formulation of strategic policies and guidelines, through the coordination of institutional planning processes, at strategic and tactical levels; II – to promote institutional innovation, through the coordination of projects and actions, aiming to obtain efficiency gains and optimize the results and quality of services provided by the CVM; III – to articulate actions and negotiations with ministries and other institutions to ensure necessary budgetary, financial, and personnel resources; IV – to coordinate the calculation and evaluation of institutional performance; V – to coordinate the annual accountability process; VI – to send to competent authorities, in the form and legal deadline, the accountability and general balance sheet relating to the previous fiscal year; VII – to send to competent authorities, within regulatory deadlines, data on budgetary matters and other information on the progress of the CVM’s work and operations; and VIII – to perform other related activities.

Art. 69. It is the responsibility of the Innovation, Projects, and Processes Management – GEINP:
I – to promote and stimulate internal innovation through the management of projects and processes and the use of technology; II – to act, within the CVM, as the office for processes and projects; III – to administer programs and portfolios of strategic projects and process improvement projects; IV – to guide and monitor other units in the development of activities and the implementation of techniques, tools, and technologies aimed at rationalization and process improvement; V – to identify and disseminate best practices in project and process management, participating in studies, knowledge exchange groups, and experience groups related to the subject; VI – to propose the allocation of budgetary resources based on the needs identified in strategic programs and projects; and VII – to perform other related activities. VI – to propose the allocation of budgetary resources based on the needs identified in strategic programs and projects; VII – to coordinate the preparation of proposals for alteration and revision of the CVM’s organizational structure, ensuring, in articulation with interested areas, adequacy to institutional competencies and rationalization of internal processes; and VIII – to perform other related activities.

Items VI to VII with wording given by CVM Resolution No. 239, of January 9, 2026.
Sole Paragraph. It is the responsibility of the CVM Data Governance Office, which will operate linked to the GEINP until a specific organizational component is created:
I – to coordinate the implementation of data governance; II – to prepare the Data Governance Strategy; III – to implement, coordinate, and guide data curation; IV – to conceive, identify, implement, and maintain the data catalog; V – to analyze and decide, on data sets, including the capture, the interruption of receipt, or changes in custody responsibility; VI – to define and implement a process for identifying and resolving data issues; VII – to define and implement a process for identifying, maintaining, and updating the business terms glossary; VIII – to prepare and implement indicators and metrics to verify the effectiveness of policies, standards, and procedures related to data management; and IX – to perform other related activities.
Sole Paragraph included by CVM Resolution No. 228, of April 16, 2025.
Sole Paragraph revoked by CVM Resolution No. 239, of January 9, 2026.

Art. 70. It is the responsibility of the Institutional Strategy and Performance Management Division – DEGES:
I – to promote and coordinate the strategic management and institutional planning process; II – to promote and coordinate the preparation and monitoring of performance in tactical and operational plans based on risk management models, based on indications of priority risk treatment; III – to coordinate the institutional performance evaluation process in fulfilling its mission and strategic objectives; IV – to propose the allocation of budgetary resources based on the needs identified in tactical and operational plans, in order to enable the achievement of goals; and V – to perform other related activities.

Art. 71. It is the responsibility of the Government Budget and Planning Division – DIPOG:
I – to prepare, in articulation with other units, the annual budget proposal and the programming of the Federal Government’s Multi-Year Plan; II – to monitor, without prejudice to the competence attributed to other units, the execution of the annual budget and the Multi-Year Plan, requesting alterations when necessary; III – to coordinate and consolidate, in articulation with other units, the preparation of the management report; IV – to present revenue estimates to competent authorities; V – to act as an interlocutor between the CVM and the Ministries on matters related to public budget and the Multi-Year Plan; and VI – to perform other related activities.

Art. 72. It is the responsibility of the Institutional Relations Superintendency – SRL:
I – to coordinate the handling of information requests and the CVM’s participation in public hearings and other activities originating from the Legislative Branch; II – to participate in the consolidation of technical and legal opinions prepared internally, regarding bills and other legislative proposals of interest to the CVM, respecting the guidance of the Collegiate Body and without prejudice to the institutional performance of the Presidency regarding the subject; III – to advise on interlocution with the Legislative Branch or other powers when this involves legislative matters, monitoring and coordinating institutional relations; IV – to monitor sessions and committees within the Legislative Branch where the CVM has interests and to perform the necessary interlocution with internal areas; V – to produce scenario analyses, reports, studies, or informational bulletins regarding matters pending before the National Congress or related to legislative matters of interest to the Autarchy; VI – to advise the Autarchy’s servers on institutional relations with public agencies and institutions and on activities carried out in Brasília; VII – to advise the members of the Collegiate Body in the performance of their functions in committees and councils of which they participate; VIII – to execute the activities of supplying materials and general services for the CVM’s needs in Brasília;

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Seven of September Street, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP Code: 20050-901 – Brazil - Tel.: (21) 3554-8686 Cincinato Braga Street, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/SP – ZIP Code: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP Code: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

IX – administer, control, and ensure the maintenance and rational use of the building facilities located in Brasília; and X – exercise other related activities.

Art. 73. It is the responsibility of the Securitization Supervision Superintendency – SSE:
I – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of securitization companies, investment funds involving securitization or real estate activity, credit rating agencies, fiduciary agents, guaranteed real estate notes, financial notes, certificates of structured operations, Brazilian depositary receipts level I, crowdfunding platforms, collective investment contracts involving digital assets or other innovative assets; II – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of securities involving securitization, except in their respective public offering procedures;

Art. 73. It is the responsibility of the Securitization and Agribusiness Superintendency – SSE:
I – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of securitization companies, investment funds involving securitization of agribusiness or real estate activity, credit rating agencies, fiduciary agents, guaranteed real estate notes, financial notes, certificates of structured operations, crowdfunding platforms, collective investment contracts involving digital assets or other innovative assets; I – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of securitization companies, investment funds involving securitization, of agribusiness or real estate activity, credit rating agencies, fiduciary agents, guaranteed real estate notes, financial notes, certificates of structured operations and crowdfunding platforms;

Item I with wording given by CVM Resolution No. 203, of May 23, 2024. For conditions of validity and temporality, check articles 2nd and 4th of CVM Resolution No. 203, of May 23, 2024.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

II – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of securities involving securitization, except in their respective public offering registration procedures; II – act in the activities of registration, supervision, guidance, sanctioning, and support for standardization within the scope of securities involving securitization, and in investment funds involving agribusiness or real estate activity, except in their respective public offering registration procedures;

Head and items I and II with wording given by CVM Resolution No. 186, of July 14, 2023.
Item II with wording given by CVM Resolution No. 228, of April 16, 2025.
III – supervise and inspect, post-public offering, consolidated urban operations and issuers of hotel CIC, especially regarding the monitoring of obligations; and IV – exercise other related activities.

Art. 74. It is the responsibility of the Securitization Supervision Management Units 1 and 2 – GSEC-1 and GSEC-2:
Art. 74. It is the responsibility of the Securitization and Agribusiness Management Units 1, 2 and 3 – GSEC-1, GSEC-2 and GSEC-3:

Head with wording given by CVM Resolution No. 186, of July 14, 2023
I – supervise and inspect the issuances and regulated entities that are under the competence of the SSE; II – draft terms of accusation and proposals for administrative inquiries and verify compliance with terms of commitment; III – respond to inquiries; and IV – exercise other related activities.

Art. 75. Securitization Supervision Division – DSEC:
Art. 75. Securitization and Agribusiness Division – DSEC:
Art. 75. It is the responsibility of the Securitization and Agribusiness Management Unit 4 – GSEC-4:

Head with wording given by CVM Resolution No. 186, of July 14, 2023

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Head with wording given by CVM Resolution No. 243, of May 20, 2026.
I – analyze the timeliness of the delivery of periodic reports by issuances and regulated entities that are under the competence of the SSE; II – analyze the registration requests and updates of the issuances and regulated entities that are under the competence of the SSE; III – analyze appeals against penalty fines; and III – operationalize procedures related to penalty fines; and
Item III with wording given by CVM Resolution No. 159, of July 8, 2022.
IV – exercise other related activities.
III - operationalize procedures related to penalty fines; IV - draft terms of accusation and proposals for administrative inquiries and verify compliance with terms of commitment; and V - exercise other related activities.
Items III, IV and V with wording given by CVM Resolution No. 243, of May 20, 2026.

Art. 75-A. It is the responsibility of the Market, Derivatives and Systemic Risks Supervision Superintendency - SMD:
I – supervise and inspect the operations carried out in the derivatives market and other operations carried out in the securities market; II - supervise and inspect the market monitoring carried out by intermediaries and self-regulatory entities; III - supervise and inspect systemic, macroprudential and interconnection risks associated with operations and asset portfolios in the securities market; and IV - exercise other related activities.

Article 75-A included by CVM Resolution No. 239, of January 9, 2026.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Art. 75-B. It is the responsibility of the Market Monitoring Management Unit – GMA:
I – analyze communications and reports involving potential market misconduct; II – instruct sanctioning administrative proceedings; III - draft terms of accusation and proposals for the initiation of administrative inquiries; IV - monitor compliance with terms of commitment entered into within the scope of sanctioning proceedings; V – analyze price stabilization contracts and securities lending contracts within the scope of public offerings; and VI – exercise other related activities.

Article 75-B included by CVM Resolution No. 239, of January 9, 2026.

Art. 75-C. It is the responsibility of the Systemic and Macroprudential Risks Management Unit – GERIS:
I – supervise and inspect systemic, macroprudential and interconnection risks associated with operations and asset portfolios in the securities market; II – coordinate discussions to improve definitions related to systemic, macroprudential and interconnection risks; III – propose to the CGR improvements in the manner of acting and in the supervision and inspection structure of the CVM for systemic, macroprudential and interconnection risks; and IV – exercise other related activities.” (NR)

Article 75-C included by CVM Resolution No. 239, of January 9, 2026.

“Art. 75-D. It is the responsibility of the Cash Market and Derivatives Supervision Division – DSME:
I – supervise and inspect the operations carried out in organized markets, with emphasis on the identification of practices that may compromise the integrity, transparency and regular functioning of the market;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

II – monitor and inspect the monitoring activities carried out by self-regulators and intermediaries, verifying compliance with applicable standards and the effectiveness of adopted controls; III – develop and improve methodologies and tools for the detection of irregularities occurring in securities trading environments, including in the exchange and over-the-counter derivatives market; IV – analyze operational patterns and trading behaviors with potential to constitute violations of securities market standards; and V – exercise other related activities.

Article 75-D included by CVM Resolution No. 239, of January 9, 2026.

Section V – Of the Institutional Committees

Art. 76. The organizational structure of the CVM includes committees constituted in accordance with the provisions of this Regulation.

§ 1st For the purposes of this regulation, committees are considered groups of people, formally constituted by the Internal Regulations, by an act of the CVM President, or by an act of the General Superintendent, and that meet to make decisions or discuss topics within their competence.

§ 2nd The act of constituting a committee must contain, at least, its nature and purpose, its list of attributes and its composition.

§ 3rd The CVM committees are classified as strategic, tactical or operational, according to the preponderance of the nature of their attributes:
I – strategic nature attributes are:
a) the decision-making that ensures relevance, usefulness and institutional survival in the short, medium or long term; b) the definition of institutional policies and standards;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

c) the prioritization and specification, at a general level, of institutional guidelines, including the definition of institutional problems to be eliminated, resolved or mitigated through actions, initiatives or strategic projects; and d) the monitoring of results at the strategic level; II – tactical nature attributes are:
a) the decision-making that ensures the execution of institutional policies, standards and guidelines; b) the specification, at a detailed level, of institutional guidelines, including the approval of Terms of Opening of initiatives or projects and the prioritization of solutions generated by teams; and c) the monitoring of results at the tactical level, resolving doubts arising from the execution of guidelines; and III – operational nature attributes are:
a) decision-making linked to administrative processes; b) decision-making aimed at complying with institutional policies or guidelines; and c) the monitoring of results at the operational level, resolving or arbitrating doubts arising from the execution of guidelines.

§ 4th Tactical nature committees may be constituted by an act of the CVM President.

§ 5th Operational nature committees may be constituted by an act of the CVM General Superintendent.
§ 5th Operational nature committees may be constituted by an act of the General Superintendent or, when related to human resources management, by an act of the Human Resources Management Superintendent.

§ 5th with wording given by CVM Resolution No. 186, of July 14, 2023

Art. 77. The following are institutional committees of a strategic nature with the purpose of developing, updating and modernizing the organization, its policies, guidelines and processes, including, prioritizing actions, activities, initiatives and projects:

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

I – Governance and Risk Management Committee – CGR; and II – Governance and Strategic Management Committee – CGE.

Art. 78. The CGR has the following attributes:
I – deliberate on the policy and standards of risk management at the CVM, including those related to Risk-Based Supervision – SBR; II – deliberate on the classifications, assessments and treatment of economic, operational and integrity risks; III – deliberate on indicators, strategy and guidelines, as well as on specific action plans for the treatment of critical risks; IV – monitor the execution of specific action plans for the treatment of critical risks; III - deliberate on indicators, strategy and guidelines, as well as on specific action plans for the treatment of priority risks; IV - monitor the execution of specific action plans for the treatment of priority risks;

Items III and IV with wording given by CVM Resolution No. 66, of March 4, 2022.
V – deliberate on the Monitoring Report of the SBR Plan to be sent to the Currency and Credit Technical Commission – COMOC; VI – monitor proposals that imply a relevant position of the CVM at international forums in which it participates; VII – deliberate on proposals related to risk topics treated within the scope of the Committee for Regulation and Supervision of the Financial, Capital, Insurance, Pension and Capitalization Markets – COREMEC; VIII – recommend to the Governance and Strategic Management Committee – CGE the opening of structural projects for the development of institutional capacities; IX – exercise the competencies provided for in art. 15-A of Decree No. 9.203, of November 22, 2017;
Item IX revoked by CVM Resolution No. 66, of March 4, 2022.
X – deliberate on the prioritization of Regulatory Impact Analysis studies – AIR; and

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

XI – promote the strengthening of the risk management culture in the autarchy.

§ 1st The CGR is composed of:
I – President;
II – Directors;
III – General Superintendent;
IV – Head of the Economic Analysis and Risk Management Advisory; and V – Superintendent of Planning and Innovation.
IV – Sectional Superintendent of Institutional Development and Modernization; V – Head of the Economic Analysis and Risk Management Advisory; and VI – Superintendent of Planning and Innovation.

Items IV, V and VI with wording given by CVM Resolution No. 203, of May 23, 2024.

§ 2nd CGR meetings occur ordinarily every three months and, extraordinarily, at any time, in case of the supervenience of any risk or relevant topic to be deliberated or to be made known to the committee members.

§ 3rd The operational secretariat of the CGR is the responsibility of the Economic Analysis and Risk Management Advisory.

Art. 79. The CGE has the following attributes:
I – deliberate on general policies and standards related to the internal management of the CVM, including the Governance and Digital Transformation Policies, Information Security and Communications, and Human Resources Management; II – deliberate on purpose, value chain, objectives and institutional strategic indicators; III – arbitrate priority conflicts arising within the scope of other committees; IV – prioritize topics or problems to be the object of a strategic project; V – approve the Terms of Opening and monitor the execution of strategic projects followed directly by the Presidency;

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

VI – approve new standards, systems or policies developed by the teams of projects followed by the committee; and VII – guide the articulation of the CVM with the Management Committees of topics considered strategic by the Federal Administration. VI – approve new standards, systems or policies developed by the teams of projects followed by the committee; VII – guide the articulation of the CVM with the Management Committees of topics considered strategic by the Federal Administration; and VIII - exercise the competencies provided for in art. 15-A of Decree No. 9.203, of November 22, 2017.

Items VI, VII and VIII with wording given by CVM Resolution No. 66, of March 4, 2022.

§ 1st The CGE is composed of:
I – President;
II – Director(s) indicated by the President;
III – General Superintendent;
IV – Superintendent of Planning and Innovation; and V – other three Superintendents indicated by the President.
IV – Superintendent of Planning and Innovation; V – Human Resources Management Superintendent; and VI – other three Superintendents indicated by the President.

Item VI included and items IV and V with wording given by Resolution No. 186, of July 14, 2023
IV – Sectional Superintendent of Institutional Development and Modernization; V – Superintendent of Planning and Innovation; VI – Human Resources Management Superintendent; and VII – other three Superintendents indicated by the President.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Items IV to VII with wording given by CVM Resolution No. 203, of May 23, 2024.

§ 2nd CGE meetings occur ordinarily every three months and, extraordinarily, at any time, in case of the supervenience of any risk or relevant topic to be deliberated or to be made known to the committee members.

§ 3rd The operational secretariat of the CGE is the responsibility of the Superintendent of Planning and Innovation.

§ 4th The Director and the other holders indicated by the President to compose the CGE will have a term of two years, renewable for an equal period.

CHAPTER IV – OF THE ATTRIBUTES OF THE OTHER EXECUTIVES AND EMPLOYEES

Art. 80. It is the responsibility of the General Superintendent:
I – coordinate the executive activities of the CVM, through the Superintendencies subordinate to him, complying with the guidelines and determinations emanating from the Collegiate; II – supervise the activities carried out by the Superintendencies; III – monitor and control the performance of the technical areas; I – coordinate the executive activities of the CVM, through the Superintendencies subordinate to him, observing the guidelines and determinations issued by the Collegiate; II – supervise the activities carried out by the Superintendencies subordinate to him; III – monitor and control the performance of the Superintendencies subordinate to him;

Items I, II and III with wording given by CVM Resolution No. 203, of May 23, 2024.
IV – exercise the attributes of expending officer in the impediments of the holder of the SAD and his substitute;
Item IV revoked by CVM Resolution No. 203, of May 23, 2024.
V – designate substitutes for commissioned positions or trusted functions; V – REVOKED

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Inciso V revoked by CVM Resolution No. 186, of July 14, 2023.
VI – decide appeals against the assessment of the supervision fee and perform other acts regarding the fee or fines, in accordance with applicable legislation; VI – act as a judge of second and last instance regarding appeals against decisions on appeals against the assessment of the supervision fee and other procedures of the administrative tax process, in accordance with applicable legislation;
Inciso VI with wording given by CVM Resolution No. 40, of July 21, 2021.
VII – ratify acts of exemption and recognition of inexigibility of bidding, as well as the delay of work or service;
Inciso VII revoked by CVM Resolution No. 203, of May 23, 2024.
VIII – interrupt vacations of CVM servers due to service necessity; VIII –REVOKED
Inciso VIII revoked by CVM Resolution No. 186, of July 14, 2023.
IX – authorize expenses, request reallocation of bank accounts, sign contracts and agreements for the execution of services, and, through a reasoned dispatch, exempt or homologate bidding for purchases, in the impediments of the holder of the SAD and their substitute; IX – authorize expenses, request reallocation of bank accounts, sign agreements or operational nature agreements, as well as, through a reasoned dispatch, exempt or homologate bidding for purchases, in the impediments of the holder of the SAD and their substitute, or sign contracts, up to the limit defined in item III of art. 81;
Inciso IX with wording given by CVM Resolution No. 159, of July 8, 2022.
Inciso IX revoked by CVM Resolution No. 203, of May 23, 2024.
X – grant the licenses provided for in arts. 84, 85, 86, 91 and 92 of Law No. 8.112, of December 11, 1990;

Inciso X revoked by CVM Resolution No. 186, of July 14, 2023.
XI – act as a monitoring authority in accordance with the Access to Information Law, as well as decide on appeals filed within the scope of information access requests against acts of the Superintendencies subordinate to it; and XII – represent the CVM before the condominium administration, in the impediments of the holder of the SAD and their substitute, with the powers inherent to the practice of the acts provided for in arts. 1331 to 1358 of the Brazilian Civil Code, including to appoint a public servant proxy, with the aim of attending the assemblies.
Inciso XII revoked by CVM Resolution No. 203, of May 23, 2024.
Art. 80-A. It is the responsibility of the Regional Superintendent for Development and Institutional Modernization:
I – coordinate activities related to planning, human resources management, innovation management, information technology, and administration and finances, through the Superintendencies subordinate to it; II – supervise the activities carried out by the Superintendencies subordinate to it; III – monitor and control the performance of the Superintendencies subordinate to it; IV – exercise the duties of expense ordering in the impediments of the holder of the SAD and their substitute; V – ratify acts of exemption and recognition of inexigibility of bidding, as well as the delay of work or service; V – REVOKED;
Inciso V revoked by CVM Resolution No. 239, of January 9, 2026.
VI – authorize expenses, request reallocation of bank accounts, sign agreements or operational nature agreements, as well as, through a reasoned dispatch, exempt or homologate

Article 80-A inserted by CVM Resolution No. 203, of May 23, 2024.
Art. 81. It is the responsibility of the Administrative-Finance Superintendent:
I – exercise the duties of expense ordering;
II – sign documents for decentralization of budgetary credits, request reallocation of bank accounts, and recognize debts from previous fiscal years; III – enter into new administrative contracts or extend existing contracts with values lower than R$ 1,000,000.00 (one million reais); IV – through a reasoned dispatch, exempt or homologate bidding and recognize inexigibility; IV – through a reasoned dispatch, homologate bidding and authorize direct contracting by exemption or inexigibility of bidding;
Inciso IV with wording given by CVM Resolution No. 239, of January 9, 2026.
V – authorize compensations and refunds;
VI – represent the CVM before the condominium administration, with the powers inherent to the practice of the acts provided for in arts. 1331 to 1358 of the Brazilian Civil Code, including to appoint a public servant proxy, with the aim of attending the assemblies; VII – authorize expenses, request reallocation of bank accounts, and sign contracts and agreements for the execution of services;

Inciso VII with wording given by CVM Resolution No. 159, of July 8, 2022.
VIII – grant the training license provided for in art. 87 of Law No. 8.112, of December 11, 1990; VIII –REVOKED
Inciso VIII revoked by CVM Resolution No. 186, of July 14, 2023.
IX – constitute attorneys and appoint proxies to, on behalf of the CVM, carry out administrative activities, the instrument specifying the powers and term of the mandate; and X – decide on appeals against the assessment of the supervision fee and other procedures of the administrative tax process, in accordance with applicable legislation.
Inciso X included by CVM Resolution No. 40, of July 21, 2021.
Art. 81-A. It is the responsibility of the People Management Superintendent:
I – appoint substitutes for commissioned positions or trusted functions; II – interrupt vacations of CVM servers due to service necessity; III – remove servers; IV – authorize reduction of working hours with full or proportional remuneration; V – grant special student schedule; VI – grant housing assistance, cost assistance, and transportation indemnification, in accordance with current legislation; and VII – grant the licenses provided for in arts. 84, 85, 86, 87, 91 and 92 of Law No. 8.112, of December 11, 1990.
Article 81-A included by CVM Resolution No. 186, of July 14, 2023

Inciso VI with wording given by CVM Resolution No. 159, of July 8, 2022.
VII – sign, jointly with holders of organizational components or servers of the team, any decisions, when necessary due to the complexity or nature of the decision; VIII – avocate decision or performance of administrative act of competence of holders of organizational components or servers of the teams, when necessary due to the complexity or nature of the decision; IX – distribute processes and activities appropriately among the team, seeking the best use of available resources and compliance with the institutional mission; X – carry out the breakdown of unit goals into the goal of each subordinate organizational component;

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Rua Sete de Setembro, 111/2-5º e 23-34º Andares, Centro, Rio de Janeiro/RJ – CEP: 20050-901 – Brasil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2º, 3º e 4º Andares, Bela Vista, São Paulo/ SP – CEP: 01333-010 – Brasil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4º Andar, Brasília/DF – CEP: 70712-900 – Brasil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br RESOLUÇÃO CVM Nº 24, DE 5 DE MARÇO DE 2021 XI – promote the periodic evaluation of holders of organizational components, guarantee continuous communication about their performance, and recommend needs for improvement of technical, behavioral, and management competencies; XII – provide conditions for holders of organizational components to be able to make decisions and carry out administrative acts of their competence; XIII – carry out the medium and long-term planning of the unit, in order to break down the institutional strategic planning and ensure that the activities carried out are aligned with strategic planning and the institutional mission; XIV – permanently monitor technological evolution and the national and international market, to identify risks and opportunities, carrying out improvements and forwarding necessary for the adoption of best practices and the continuous improvement of unit performance; and XV – reallocate competencies among the administrative units subordinate to him, in exceptional and temporary situations, in order to balance the demand for activities and the availability of servers. § 1º Unit managers, for the purposes of this article, are considered holders of DAS/FCPE level 4 positions or functions. § 2º This article applies, where applicable, to the General Superintendent and members of the Collegiate. § 3º When possible and opportune, and with the objective of increasing unit efficiency, the manager must consider the delegation of activities, especially those of an operational nature. Art. 82-A. It is the responsibility of deputy unit managers:
I – coordinate, in articulation with the superintendent, activities related to subordinate organizational components and the team directly linked to the unit; II – act as a link between the unit manager and organizational components, promoting integration and alignment of teams;

Article 82-A included by CVM Resolution No. 239, of January 9, 2026.
Art. 83. It is the responsibility of holders of organizational components at section, sector, division, and management levels:
I – decide on requests for accreditation, registration, suspension, and cancellation of registration of market participants and public offerings; II – issue Alert Letters; III – analyze appeal allegations regarding decisions of competence of component servers and decide on forwarding the appeal to the Area Superintendent; IV – sign, jointly with servers of the team, decisions of competence of members of upper and middle level careers, when necessary due to the complexity or nature of the decision;

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Paragraph 1º with wording given by CVM Resolution No. 40, of July 21, 2021.
§ 2º When possible and opportune, and with the objective of increasing unit efficiency, the holder must consider the delegation of activities, especially those of an operational nature. Art. 84. It is the responsibility of servers holding effective upper-level positions:
I – issue technical opinions in processes of normatization, accreditation, registration, supervision, inspection, sanction, orientation, administration, technology, and management; II – issue technical opinions regarding consultations, complaints, and reports received from market participants, citizens, servers, and other entities and bodies of the administration;

Inciso III with wording given by CVM Resolution No. 40, of July 21, 2021.
IV – apply mandatory fines;
V – ascertain facts and potential irregularities found in administrative processes and issue letters requesting documents and information; VI – plan and conduct external inspections; VII – instruct and conduct inquiries, depositions, and administrative sanctioning and supervision processes, collecting evidence and information necessary for the clarification and ascertainment of facts; and VIII – decide on the granting of requests for process review. Art. 85. It is the responsibility of servers holding intermediate-level positions, according to the nature of the position established in Law 11.890, of December 24, 2008:
I – provide specialized support and participate in technical activities of normatization, supervision, inspection, sanction, orientation, administration, technology, and management; II – verify compliance with normative requirements in documents, requests, and information from regulated entities; III – analyze requests for granting process review; IV – prepare managerial reports and propose controls as support for decision-making; and V – carry out administrative activities necessary for the functioning of the organizational component. Art. 86. It is the responsibility of all servers:
I – instruct administrative processes;

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CHAPTER V – GENERAL PROVISIONS
Section I – Of the Operation of the Collegiate
Art. 87. The CVM will be administered by a President and four Directors, appointed by the President of the Republic, among persons of unblemished reputation and recognized competence in capital market matters, after approval by the Federal Senate. Art. 88. The term of office of the CVM managers will be five years, with reconduction prohibited, and one fifth of the members of the Collegiate must be renewed each year, observing the provisions in applicable regulation. Art. 88. The term of office of the CVM managers will be five years, with reconduction prohibited, and one fifth of the members of the Collegiate must be renewed each year. § 1º The term of the CVM President will begin on July 15, and that of the Directors on January 1. § 2º The start of the counting of the term of office will occur from the dates provided in § 1º, regardless of the date of indication, approval, or taking office of the Collegiate member. § 3º In the event of vacancy, resignation, death, or loss of mandate of a Collegiate member, the new CVM President or Director will be appointed, in the manner provided for in the CVM Organizational Structure Decree, to fulfill the remaining term of the mandate of the substituted member.

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Seven de Setembro Street, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Cincinato Braga Street, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 SCN Q.02 – Bl. A – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

§ 4º In the event of vacancy, resignation, death, or loss of mandate of the CVM President, the functions of the Presidency shall be exercised by the most senior Director, in descending order of seniority, until a new appointment, without prejudice to their respective duties.

§ 5º The CVM President shall be replaced, in their absences and impediments, by one of the Directors, indicated by them and appointed by act of the Minister of State for Finance.

§ 6º In the event of impediment, suspicion, removal, or absence of the CVM President and their substitute, the functions of the Presidency shall be exercised by the most senior Director.

Article 88 with wording given by CVM Resolution No. 186, of July 14, 2023

Art. 89. The President shall be replaced in their legal and regulatory impediments by one of the Directors, indicated by the Minister of State for Economy and appointed by the President of the Republic.

Sole Paragraph. In the event of resignation, death, or loss of mandate of the President, the most senior or oldest Director, in that order, shall assume office until a new appointment, without prejudice to the respective duties.

Art. 89. REVOKED

Article 89 revoked by CVM Resolution No. 186, of July 14, 2023.

Art. 90. During the period of vacancy preceding the appointment of Directors or in the event of legal or regulatory impediment, they shall be replaced by a member of the Collegiate Board's replacement list.

§ 1º The replacement list shall be formed by three CVM civil servants holding the position of Superintendent, chosen and appointed by Act of the Minister of State for Economy, among those indicated by the Collegiate Board, observing the order of precedence stated in the act of appointment for the exercise of the substitution.

§ 2º The CVM shall indicate to the Minister of State for Economy three names for each vacancy on the list.

§ 3º No one shall remain on the replacement list for more than two consecutive years and shall only be reappointed after a minimum period of two years has elapsed.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

§ 4º The subjective requirements regarding investiture, prohibitions, and duties imposed on Directors shall apply to the substitutes.

§ 5º In case of need for substitution, the substitutes shall be called in order of precedence on the list, observing the rotation system and the maximum period of exercise.

§ 6º The same substitute shall not exercise the position of Director for more than sixty consecutive days; another substitute shall be called, in the order of the list, if the vacancy or impediment of the Director extends beyond this period.

§ 7º In the event of resignation, death, or loss of mandate of a Director, a new appointment shall be made in the manner provided by Law, to complete the mandate of the replaced director.

§ 8º Substitution in cases of impediment shall only be carried out when the absence of the impeded Director prevents decision-making due to lack of the minimum quorum for deliberation by the Collegiate Board.

§ 9º Substitutes shall not participate in the draw for the designation of rapporteurs for administrative processes.

Art. 90. Directors shall be replaced by a member of the Collegiate Board's replacement list during the period of vacancy preceding their appointment, or in the event of legal or regulatory impediment.

§ 1º The replacement list shall be formed by three public servants holding the position or designated for the function of General Superintendent or Superintendent of CVM, chosen and appointed in an act of the Minister of State for Finance, among those indicated by the Collegiate Board, observing the order of precedence stated in the act of appointment for the exercise of the substitution.

§ 2º The Collegiate Board shall indicate to the Minister of State for Finance three civil servants for each vacancy on the list.

§ 3º The civil servant referred to in § 1º shall compose the replacement list for a maximum period of two consecutive years and shall only be reappointed after a minimum period of two years has elapsed.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

§ 4º The subjective requirements regarding investiture, prohibitions, and duties imposed on Directors shall apply to the substitutes.

§ 5º In the event of need for substitution, the substitutes shall be called in order of precedence on the list, observing the rotation system.

§ 6º The same substitute shall not exercise the position interimly for more than one hundred and eighty consecutive days; another substitute shall be called, in order of precedence on the list, if the vacancy or impediment of the Director extends beyond this period.

§ 7º In the absence of the appointment referred to in § 1º, the position shall be exercised interimly by the holder of the position or the person designated for the function of General Superintendent or Superintendent of CVM with the longest time in office, in that function, or the oldest, in that order.

§ 9º Substitutes shall not participate in the draw for the designation of rapporteurs for administrative processes.

§ 9º Substitutes shall participate in the draw for the designation of rapporteurs for administrative processes when there are three or more vacancies in the Collegiate Board exceeding thirty days, so that the draw takes place among three members.

§ 10. In the event of impediment or suspicion of the substitute director, the draw for administrative processes shall include the next in order of precedence on the list.

§ 11. When the composition of the Collegiate Board is restored with three or more titular members, processes whose rapporteurship was provisionally attributed to substitute directors must be redistributed, through a new draw, to define the new rapporteur. Processes whose rapporteurship was attributed to vacant positions must return to the holders of the respective positions.

§ 12. The alteration in the order of precedence on the list shall not imply the need to redistribute processes already drawn for provisional rapporteurship, so that the substitute director shall remain as rapporteur until their name is removed from the list or the condition of § 10 is verified, whichever occurs first.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Article 90 with wording given by CVM Resolution No. 186, of July 14, 2023
Paragraphs 10, 11, and 12 included and Paragraph 9 with wording given by CVM Resolution No. 241, of March 5, 2026

Art. 91. The hypotheses of impediment or suspicion provided for in specific applicable regulation shall apply to the President and Directors.

Art. 92. The Collegiate Board shall meet, ordinarily, once a week, and extraordinarily, when convened, at the request of the President.

§ 1º Deliberations shall be taken by simple majority of the members present, with the President having the casting vote in case of a tie.

§ 2º The minimum quorum for installation and deliberation shall be three members of the Collegiate Board.

§ 3º Bulletins shall be prepared from the Collegiate Board meetings for publication on the Agency's website, containing the Collegiate Board's decision on the processes that are the subject of deliberation, except for information subject to confidentiality.

§ 4º Minutes shall be drawn up from the Collegiate Board meetings for publication on the Agency's website, containing the reasoning for the decisions taken by the Collegiate Board, as well as any discussions held during the meetings, except for information subject to confidentiality.

§ 5º The agenda for the ordinary meetings of the Collegiate Board shall be prepared by the Executive Management.

§ 6º In addition to the meetings mentioned in the caput, the Collegiate Board shall also meet once a week, to specifically address regulatory matters, to be previously placed on the agenda and reported by the Market Development Superintendence or the Accounting Standards and Audit Superintendence.

Art. 93. In the sessions for judging administrative sanctioning processes, each member of the Collegiate Board shall have one vote, and deliberations shall be taken by majority, observing that, in case of a tie, the position most favorable to the accused shall prevail.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Section II – Of the Process for Amending these Internal Regulations

Art. 94. Proposals to amend these Internal Regulations shall be submitted to the Planning and Innovation Superintendence for analysis and forwarding.

Sole Paragraph. After the measures provided for in the caput of this article, the proposals shall follow the necessary internal procedures to be placed on the agenda for deliberation by the Collegiate Board.

§ 1º After the measures provided for in the caput of this article, the proposals shall follow the necessary internal procedures to be placed on the agenda for deliberation by the Collegiate Board.

§ 2º The President may, by Act and in accordance with legislation, reallocate commissioned positions and trust functions and exchange DAS positions with FCPEs of the same level and category, within the CVM structure.

§ 3º The alterations made based on the previous paragraph shall be reflected in the next amendment of these Regulations.

Sole paragraph renumbered and paragraphs 2 and 3 included by CVM Resolution No. 40, of July 21, 2021.

Section III – Of the Final Provisions

Art. 95. All organizational components shall maintain reciprocal collaboration and information exchange, in order to allow, in the best way, the fulfillment of the CVM's institutional mission.

Art. 96. These Internal Regulations shall be used by CVM civil servants as a reference in the exercise of their activities and as an instrument for decision-making.

Art. 97. Holders of positions or functions of direction or leadership shall be replaced, in their absences or impediments, by civil servants indicated and previously appointed.

§ 1º The civil servant indicated as a substitute shall automatically and cumulatively assume, without prejudice to the position they hold, the exercise of the position or function of direction or leadership, in the absences and impediments of the holder and in the vacancy of the position.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

§ 2º Regarding the organizational components in general, the substitutes referred to in the caput shall be previously indicated by their respective leaders, and the general list shall be published and maintained by the human resources management area.

Art. 98. Requests for hearings with third parties before any organizational component of the Agency must comply with applicable legislation and be forwarded through a specific link on the CVM's website.

Art. 99. Omitted cases and doubts arising from the application of these Internal Regulations shall be resolved by the CVM Collegiate Board.

Art. 100. The procedural rules involving coercive fines are defined in specific regulation.

Art. 100 included by CVM Resolution No. 159, of July 8, 2022.

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

ANNEX II
DEMONSTRATIVE TABLE OF COMMISSIONED POSITIONS AND TRUST FUNCTIONS OF THE SECURITIES AND EXCHANGE COMMISSION OF BRAZIL

Organizational Unit | Quantity | Designation
Position/Function | DAS / FCPE / FGR
--- | --- | ---
1 President | DAS 101 | 6
4 Director | DAS 101 | 5
4 Technical Advisor | DAS 102 | 3
5 Technical Assistant | DAS 102 | 1
PRESIDENCY OFFICE | 1 Chief | DAS 101 | 4
1 Technical Advisor | DAS 102 | 3
1 Manager | FCPE 101 | 3
SOCIAL COMMUNICATION ADVISORY | 1 Advisory Chief | DAS 101 | 4 1 Assistant III | FGR 3 | 3 ECONOMIC ANALYSIS AND RISK MANAGEMENT ADVISORY | 1 Advisory Chief | DAS 101 | 4 1 Technical Assistant | DAS 102 | 1 1 Chief | FCPE 101 | 3 1 Assistant II | FGR 2 | 2 INTERNAL AUDIT | 1 Chief Auditor | FCPE 101 | 4 1 Assistant III | FGR 3 | 3 SPECIALIZED FEDERAL PROSECUTOR'S OFFICE | 1 Chief Prosecutor | FCPE 101 | 4 4 Subprosecutor | FCPE 101 | 3 2 Assistant I | FGR 1 | 1 6 Assistant II | FGR 2 | 2 2 Assistant III | FGR 3 | 3 ADMINISTRATIVE-FINANCIAL SUPERINTENDENCE | 1 Superintendent | FCPE 101 | 4 2 Manager | DAS 101 | 3 1 Chief | DAS 101 | 2 2 Technical Assistant | DAS 102 | 1

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

ANNEX II
DEMONSTRATIVE TABLE OF COMMISSIONED POSITIONS AND TRUST FUNCTIONS OF THE SECURITIES AND EXCHANGE COMMISSION OF BRAZIL

UNIT | POSITION/FUNCTION | NO. | DESIGNATION | CCE/FCE --- | --- | --- | --- | --- 1 President | CCE | 1.17 | | 4 Director | CCE | 1.15 | | 5 Technical Advisor | CCE | 2.10 | | 4 Technical Assistant | CCE | 2.05 | | OFFICE OF THE PRESIDENT | 1 Chief of Staff | CCE | 1.13 | Management | 1 Manager | FCE | 1.10 | 1 Technical Advisor | CCE | 2.10 | | SOCIAL COMMUNICATION ADVISORY | 1 Advisory Chief | CCE | 1.13 | 1 Specialized Technical Advisor | FCE | 4.01 | | ECONOMIC ANALYSIS, RISK MANAGEMENT AND INTEGRITY ADVISORY | 1 Advisory Chief | FCE | 1.13 | 1 Technical Assistant | CCE | 2.05 | | 1 Specialized Technical Advisor | FCE | 4.05 | | 1 Technical Assistant | FCE | 2.01 | | INTERNAL AUDIT | 1 Chief Auditor | FCE | 1.13 | 1 Specialized Technical Advisor | FCE | 4.01 | | SPECIALIZED FEDERAL PROSECUTOR'S OFFICE | 1 Chief Prosecutor | FCE | 1.13 | Subprosecutor's Office | 4 Subprosecutor | FCE | 1.10 | Sector | 1 Chief | FCE | 1.02 | 1 Technical Assistant | FCE | 2.02 | | 2 Technical Assistant | FCE | 2.01 | | 6 Specialized Technical Advisor | FCE | 4.01 | |

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

ADMINISTRATIVE-FINANCIAL SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 1 Manager | CCE | 1.10 | Management | 4 Manager | FCE | 1.10 | Division | 1 Chief | CCE | 1.07 | 4 Specialized Technical Advisor | FCE | 4.02 | | 7 Specialized Technical Advisor | FCE | 4.01 | | HUMAN RESOURCES MANAGEMENT SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 3 Manager | FCE | 1.10 | Division | 1 Chief | FCE | 1.07 | 1 Technical Assistant | CCE | 2.05 | | 1 Specialized Technical Advisor | FCE | 4.02 | | GENERAL SUPERINTENDENCE | 1 General Superintendent | FCE | 1.15 | Management | 1 Manager | FCE | 1.10 | 1 Technical Assistant | CCE | 2.05 | | 2 Specialized Technical Advisor | FCE | 4.01 | | MARKET DEVELOPMENT SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 1 Manager | CCE | 1.10 | Management | 1 Manager | FCE | 1.10 | 1 Assistant | CCE | 2.07 | | 1 Specialized Technical Advisor | FCE | 4.01 | | ACCOUNTING STANDARDS AND AUDIT SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 2 Manager | FCE | 1.10 | 1 Specialized Technical Advisor | FCE | 4.01 | | PLANNING AND INNOVATION SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 |

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

Management | 1 Manager | FCE | 1.10 |
Division | 2 Chief | FCE | 1.07 |
1 Technical Assistant | FCE | 2.05 | |
1 Technical Assistant | FCE | 2.02 | |
2 Specialized Technical Advisor | FCE | 4.01 | | SANCTIONING PROCESSES SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 5 Manager | FCE | 1.10 | 1 Technical Assistant | CCE | 2.05 | | 1 Specialized Technical Advisor | FCE | 4.05 | | 1 Technical Assistant | FCE | 2.02 | | 1 Specialized Technical Advisor | FCE | 4.02 | | 1 Specialized Technical Advisor | FCE | 4.01 | | INVESTOR PROTECTION AND GUIDANCE SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 2 Manager | FCE | 1.10 | Division | 2 Chief | FCE | 1.07 | 2 Specialized Technical Advisor | FCE | 4.02 | | 2 Technical Assistant | FCE | 2.01 | | 5 Specialized Technical Advisor | FCE | 4.01 | | SECURITIES REGISTRATION SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | Management | 3 Manager | FCE | 1.10 | 1 Specialized Technical Advisor | FCE | 4.02 | | INSTITUTIONAL RELATIONS SUPERINTENDENCE | 1 Superintendent | FCE | 1.13 | 1 Technical Advisor | CCE | 2.10 | | 1 Assistant | CCE | 2.07 | |

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, 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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

SUPERINTENDENCY OF INTERNATIONAL RELATIONS
1 Superintendent FCE 1.13
Management 1 Manager FCE 1.10

SUPERINTENDENCY OF CORPORATE RELATIONS
1 Superintendent FCE 1.13
Management 5 Manager FCE 1.10
1 Assistant FCE 2.07
1 Technical Assistant FCE 2.02
1
Specialized Technical Advisor
FCE 4.02
2 Technical Assistants FCE 2.01
2
Specialized Technical Advisors
FCE 4.01

SUPERINTENDENCY OF MARKET AND INTERMEDIARY RELATIONS 1 Superintendent FCE 1.13 Management 4 Manager FCE 1.10 Sector 1 Head FCE 1.02 1 Technical Assistant CCE 2.05 4 Technical Assistants FCE 2.01

SUPERINTENDENCY OF INSTITUTIONAL INVESTOR SUPERVISION 1 Superintendent FCE 1.13 Management 3 Manager FCE 1.10 Sector 1 Head FCE 1.02 2 Specialized Technical Advisors FCE 4.01

SUPERINTENDENCY OF STRATEGIC RISK SUPERVISION
1 Superintendent FCE 1.13
Management 3 Manager FCE 1.10

SUPERINTENDENCY OF
SECURITIZATION AND AGRIBUSINESS
1 Superintendent FCE 1.13
Management 3 Manager FCE 1.10
Division 1 Head FCE 1.07
1 Technical Assistant FCE 2.01

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, 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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

SUPERINTENDENCY OF INFORMATION TECHNOLOGY
1 Superintendent FCE 1.13
Management 3 Manager FCE 1.10
Division 1 Head CCE 1.07
Sector 1 Head FCE 1.02
1 Technical Assistant FCE 2.02
4
Specialized Technical Advisors
FCE 4.01

Annex II with wording given by CVM Resolution No. 186, of July 14, 2023

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, 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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

ANNEX III
SUMMARY COST TABLE OF COMMISSIONED POSITIONS AND TRUST FUNCTIONS

Position/Function	DAS	Unitary	Quantity	Total Value
DAS 101	101	6.27	1	6.27
DAS 101	101	5.04	5	25.2
DAS 101	101	3.84	4	15.36
DAS 101	101	2.1	4	8.4
DAS 101	101	1.27	2	2.54
DAS 102	102	2.1	5	10.5
DAS 102	102	1.27	3	3.81
DAS 102	102	1	11	11
SUBTOTAL	-	1	35	83.08
FCPE 101	101	0.6	2	1.2
FCPE 101	101	0.76	6	4.56
FCPE 101	101	1.26	44	55.44
FCPE 101	101	2.3	16	36.8
FCPE 102	102	0.6	3	1.8
FCPE 102	102	0.76	1	0.76
SUBTOTAL	-	2	72	100.56
FGR	1	0.2	20	4
FGR	2	0.15	22	3.3
FGR	3	0.12	26	3.12
SUBTOTAL	-	3	68	10.42
TOTAL (1 + 2 + 3)			175	194.06

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, 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 – Corporate Financial Center Building, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil - Tel.: (61) 3327-2030/2031 www.cvm.gov.br

CVM RESOLUTION NO. 24, OF MARCH 5, 2021

ANNEX III
SUMMARY COST TABLE OF COMMISSIONED POSITIONS AND TRUST FUNCTIONS

CODE	CCE-UNITARY	CURRENT SITUATION		NEW SITUATION
		QTY.	TOTAL VALUE	QTY.	TOTAL VALUE
CCE 1.17	6.27	1	6.27	1	6.27
CCE 1.15	5.04	5	25.20	4	20.16
CCE 1.13	3.84	3	11.52	2	7.68
CCE 1.10	2.12	4	8.48	2	4.24
CCE 1.07	1.39	2	2.78	2	2.78
CCE 2.10	2.12	5	10.60	7	14.84
CCE 2.07	1.39	3	4.17	2	2.78
CCE 2.05	1.00	11	11.00	9	9.00
SUBTOTAL		1	34	80.02	29	67.75
FCE 1.15	3.03	-	-	1	3.03
FCE 1.13	2.30	17	39.10	19	43.70
FCE 1.10	1.27	44	55.88	49	62.23
FCE 1.07	0.83	6	4.98	6	4.98
FCE 1.05	0.60	1	0.60	-	-
FCE 1.02	0.21	4	0.84	4	0.84
FCE 2.07	0.83	1	0.83	1	0.83
FCE 2.05	0.60	1	0.60	1	0.60
FCE 2.02	0.21	7	1.47	5	1.05
FCE 2.01	0.12	10	1.20	12	1.44
FCE 4.05	0.60	3	1.80	2	1.20
FCE 4.02	0.21	10	2.10	10	2.10
FCE 4.01	0.12	38	4.56	35	4.20
SUBTOTAL		2	142	113.96	145	126.20
TOTAL			176	193.98	174	193.95

Annex III with wording given by CVM Resolution No. 186, of July 14, 2023

CVM Resolution No. 24 of March 5, 2021, as amended by Resolutions CVM No. 40/21, 66/22, 159/22, 177/23, 179/23, 186/23, 201/24, 203/24, 220/24, 228/25, 233/25, 239/26, 241/26, 243/26 and 246/26

Lineage: Amended

Timeline