The Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM) approved on Tuesday (28) the CVM Resolution 181, which extends the deadline for the implementation of the new regulatory framework for investment funds to October 2nd of this year. The deadline for the adaptation of the Investment Funds in Credit Rights (Fundo de Investimento em Direitos Creditórios – FIDC) to the new regulatory framework was also extended, from December 1st of this year to April 1st, 2024. The CVM decision met the demands of the market, which reported the need for a longer timeline for the proper implementation of the CVM Resolution 175. The other investment funds operating on the date of the norm’s implementation must fully comply with the Resolution’s provisions by December 31st, 2024.

The extension aims to provide more time for agents to deal with the operational aspects of the new regulatory framework, ensuring legal security, simplification, and democratization for the Brazilian capital market.