Giulia Keese Montanhesi
Lawyer at Marcos Martins Advogados
On February 9, 2021, the Securities and Exchange Commission(CVM) published Resolution No. 16, which regulates the activity of independent investment agents, revoking other regulations on the same subject, such as CVM Instruction No. 497, CVM Instruction No. 515 and CVM Instruction No. 610.
According to the regulation, an autonomous investment agent is defined as a natural person registered to carry out a series of activities under the responsibility and as an agent of an institution that is part of the securities distribution system, such as “prospecting and attracting clients”, “receiving and registering orders and transmitting these orders to the appropriate trading or registration systems” and “providing information about the products offered and the services provided by the institution”.
In addition, the resolution deals in much the same way as CVM Instruction 497 with the aspects of registration and accreditation of the activity, rules of conduct, obligations and responsibilities of intermediary institutions, penalties and the accrediting entities for these professionals.
However, this new version includes a specific chapter on file keeping. Chapter VII deals with the digitization of original documents and that accrediting institutions and entities must keep all the required documents and information for at least 5 (five) years.
The new regulation comes into force on March 1, 2021 and is seen as an important step for the development of the activity, which has become increasingly present in the Brazilian capital market.
Fonte: http://conteudo.cvm.gov.br/legislacao/resolucoes/resol016.html
