Regulatory Alerts2014-10-25
CVM Instruction No. 536 of August 23, 2013
The Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 536 to amend Article 104 of CVM Instruction No. 409. The amendment establishes that authorization for exclusive funds and funds exclusively for qualified investors is automatically granted upon electronic submission of required documents via the CVM's online system. This instruction entered into force on the date of its publication.
CVM INSTRUCTION NO. 536, OF AUGUST 23, 2013 Adds a provision to CVM Instruction No. 409, of August 18, 2004.
THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on August 20, 2013, in view of the provisions of Articles 2, item V and 8, item I, of Law No. 6,385, of December 7, 1976, APPROVED the following Instruction:
Art. 1. Article 104 of CVM Instruction No. 409, of August 18, 2004, shall be effective with the following wording:
“Art. 104.............................................. ............................................................. § 4. In the case of item I of the caput, authorization shall be automatically granted upon submission to the CVM, through the Document Submission System available on the CVM's website on the world wide web, of the documents referred to in Article 103, when it concerns: I – exclusive funds; and II – investment funds exclusively intended for qualified investors.”(NR)
Art. 2. This Instruction enters into force on the date of its publication.
Signed original by LEONARDO P. GOMES PEREIRA President