RegAlert

Rule · CVM · 22 Sep 2005

Joint Decision CVM/SPC No. 10 of September 22, 2005

securities

Closed complementary pension entities and fund administrators must capitalize quotas into shares following CVM Instructions 394 and 359, using pricing criteria compliant with Joint CVM/SPC Decisions and respecting applicable investment limits. Non-compliance subjects these entities and administrators to sanctions under current legislation. This Joint Decision CVM/SPC No. 10 enters into force upon publication and revokes Joint CVM/SPC Decision No. 09 of September 24, 1999.

BrazilComissão de Valores Mobiliários

1
JOINT DECISION CVM/SPC NO. 10, OF SEPTEMBER 22, 2005.
Establishes the conditions for closed complementary pension entities to capitalize, with shares, quotas of investment funds intended exclusively for qualified investors and quotas of market index investment funds, and provides other measures.
The Collegiate Board of the Securities and Exchange Commission (CVM) and the Complementary Pension Secretariat (SPC) of the Ministry of Social Security, in view of the provisions of Article 8 of National Monetary Council Resolution No. 3,121, of September 25, 2003, as amended by Article 1 of National Monetary Council Resolution No. 3,305, of July 29, 2005, DECIDE:
Art. 1 The capitalization, with shares, of quotas of investment funds intended exclusively for qualified investors and quotas of market index investment funds, by closed complementary pension entities, shall observe the procedures set forth in CVM Instruction No. 394, of July 22, 2003, and CVM Instruction No. 359, of January 22, 2002. Art. 2 The criterion used for pricing the value of the shares must comply with the provisions of Joint CVM/SPC Decisions. Art. 3 Closed complementary pension entities that avail themselves of the option provided in this Joint Decision shall respect the provisions contained in other Joint CVM/SPC Decisions, as well as observe the investment limits and diversification established in the regulation applicable to closed complementary pension entities. Art. 4 Failure to observe the provisions of this Joint Decision shall subject closed complementary pension entities and their administrators, as well as the administrators of the investment fund, within the scope of their respective areas of competence, to the sanctions provided for in the legislation and regulation in force. Art. 5 This Joint Decision enters into force on the date of its publication. Art. 6 Joint CVM/SPC Decision No. 09, of September 24, 1999, is hereby revoked. Signed by Wladimir Castelo Branco Castro Acting President of the SECURITIES AND EXCHANGE COMMISSION Signed by Adacir Reis SECRETARY OF COMPLEMENTARY PENSION

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Annotations and obligations
3 obligations · 4 definitions
  • Obligation 3
  • Definition / condition 4
  • background, boilerplate

Lineage: In force

Resolution No. 3121 dated 2003-…Resolution No. 3121 dated 2003-09-25Joint Decision CVM/SPC No. 9 of…1999Joint Decision CVM/SPC No. 9 of September 24, 1999 (1999-09-24)CVM Instruction No. 359 of Janu…2002CVM Instruction No. 359 of January 22, 2002 (Revoked) (2002-01-22)CVM Instruction No. 394 of July…2003CVM Instruction No. 394 of July 22, 2003 (Repealed) (2003-07-22)Resolution No. 3305 dated 2005-…Resolution No. 3305 dated 2005-07-29Joint Decision CVM/SPC No. 10of September 22, 20052005-09-22 · this documentJoint Decision CVM/SPC No. 10 of September 22, 2005 (2005-09-22)Joint Decision SPC/CVM 12/082008Joint Decision SPC/CVM 12/08 (2008-05-07)
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

This document supersedes: Joint Decision CVM/SPC No. 9 of September 24, 1999

What changed in the obligations

Against Joint Decision CVM/SPC No. 9 of September 24, 1999 (1999-09-24)

1 new obligation · 1 change of scope · 1 not carried over

1 obligation is the same in both texts.

Changed (1)
  • Scope
    Before
    Article 2. The criterion used for pricing the value of shares and/or subscription bonuses must comply with the provisions of the Joint Decisions CVM/SPC. in the old text
    Now
    Art. 2 The criterion used for pricing the value of the shares must comply with the provisions of Joint CVM/SPC Decisions. in this text
New in this text (1)
  • Art. 1 The capitalization, with shares, of quotas of investment funds intended exclusively for qualified investors and quotas of market index investment funds, by closed complementary pension entities, shall observe the procedures set forth in CVM Instruction No. 394, of July 22, 2003, and CVM Instruction No. 359, of January 22, 2002. in this text
Not carried over (1)
  • Article 1. It is established, exceptionally, that, during the validity of the Provisional Contribution on Movements or Transmission of Values and of Credits and Rights of a Financial Nature - CPMF, Closed Private Pension Entities – EFPP may carry out private operations with securities, registered on stock exchanges or in an organized over-the-counter market, provided they are associated with the … in the old text

“Not carried over” means the sentence has no counterpart in this text; the rule can still be in force in another text.

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