The Brazil Securities Commission (CVM), through its Superintendencies of Institutional Investor Supervision, Market Relations and Intermediaries, and Securitisation and Agribusiness, published Joint Circular Letter CVM/SIN/SMI/SSE 1/2025 setting out technical interpretations of the minimum investor registration information that must be maintained by entities administering organized markets and by financial market system operators active in securities. The guidance clarifies the minimum identification data to be recorded in the system for different investor types, including natural persons, legal entities, CVM-registered investment funds, and non-resident investors. It applies both to securities held in centralised depository arrangements and to records of previously executed transactions and securities, including distributions carried out on an “on behalf and by order” basis, and it notes that additional registration data must be obtained from participants whenever necessary to meet anti-money laundering, counter-terrorist financing and proliferation financing policies under CVM Resolution 50.
Brazil Securities Commission (CVM) 2025-03-10
Brazil Securities Commission issues guidance on minimum investor registration data for organized market administrators and system operators
The Brazil Securities Commission (CVM) issued Joint Circular Letter CVM/SIN/SMI/SSE 1/2025, detailing technical interpretations for minimum investor registration information required by market administrators and financial system operators. The guidance specifies identification data for various investor types and mandates additional data collection to comply with anti-money laundering and counter-terrorist financing policies under CVM Resolution 50.