CVM and Previc sign agreement

The chairman of CVM – the Brazilian Securities and Exchange Commission, Marcelo Barbosa, and the superintendent in charge of Previc – National Superintendence for Pension Funds, Fabio Coelho, signed a technical cooperation agreement this month aimed at aligning the rules issued by the two regulators.

The agreement signed by CVM and Previc in March meets the position defended by Amec in the Seminar on FIPs organized by Previ, Petros and Funcef in February. At that event, CEO Mauro Rodrigues da Cunha defended that “the reform of the FIPs must be conducted together with other regulatory reforms to enable the building of a coherent regulation system that includes other investment funds, public offers and the regulation of pension funds.”

The partnership between regulators was also defended by Amec in President Letter 05/18, which deals with reforms to the public offer rules (Instructions 400 and 476) in paragraphs 34 and 35. In the document, Amec mentions that “… we understand that the market authority should work with the other regulators to revise the system as a whole – and not each rule individually.”

Amec congratulates CVM and Previc on the importance of the partnership they have just created and remains, as always, available to collaborate with the regulatory development.

Click here to read CVM news (portuguese).

Click here to read Letter of President 05/18

Click here to read News on Amec participation on the event organized by Previ, Petros and Funcef.