Conteúdo

ANBIMA publishes a new version of the Code of Regulation and Best Practices for Investment Funds

Por Bruna Fernandes Caravela Flor Silva

A new version of ANBIMA’s Code of Regulation and Best Practices for Investment Funds (ANBIMA Code) came into force June 2. The changes brought by this new version were approved by the Brazilian Financial and Capital Markets Association (local acronym ANBIMA) at a general meeting held April 29.

In this new version, the provisions were restructured. Now, the general rules are set out in the body of the code and the specific rules are set out in separate annexes specifically created for (i) Investment Funds (investment funds regulated by CVM’s Rule No. 409/2004); (ii) Credit Receivables Investment Funds (local acronym FIDCs); (iii) Real Estate Investment Funds; e (iv) Market Index Fund.

The new structure of the ANBIMA Code allows for a more through description of the procedures, giving full and special attention to the individual characteristics of each type of fund.

Moreover, the ANBIMA Code innovated: The entities engaged in the distribution of quotas of Investment Fund must now request adherence to the ANBIMA Code as a Distributor and, therefore, assume certain obligations.

According to ANBIMA, the funds that were created or whose authorization to operate was requested with CVM before the new version of the ANBIMA Code came into effect are not required to adjust to the new rules.

Compartilhe nas redes sociais

Newsletter

Assine nossa newsletter e receba nossas atualizações e conteúdos exclusivos!