The Brazil Securities Commission's Superintendence of Securitization and Agribusiness has published guidance for administrators of Real Estate Investment Funds (FII) on how to complete quarterly report fields relating to Real Estate Receivables Certificates (CRI). The update is intended to ensure that CRI positions are classified and identified correctly in FII disclosures. CRI must be reported only in category 1.2 and subcategory 1.2.2. The fields for Issue and Series should contain numbers only, with single-series instruments entered as 1, and administrators should verify the correct corporate taxpayer identification number of the issuing company. As there is no dedicated field for the IF code of financial assets, that information should be included in the Company field. The technical area also recommends that FII administrators reassess whether quarterly reports for the 12/2025 and 3/2026 reporting periods need to be resubmitted in light of the guidance. Where information is absent or incorrect, especially for the IF code of CRI, the report should be refiled to ensure proper identification of the certificates.
Brazil Securities Commission (CVM) 2026-04-30
Brazil Securities Commission issues CRI reporting guidance for real estate investment funds and urges review of 12/2025 and 3/2026 filings
The Brazil Securities Commission’s Superintendence of Securitization and Agribusiness has issued guidance to Real Estate Investment Fund administrators on completing quarterly report fields for Real Estate Receivables Certificates to ensure correct classification and identification. CRI must be reported only under category 1.2 and subcategory 1.2.2 with numeric Issue and Series fields, the issuing company’s correct taxpayer identification number, and the IF code in the Company field. The technical area recommends reassessing and, where necessary, refiling quarterly reports for the 12/2025 and 3/2026 periods where CRI information is missing or incorrect.