On Mar. 31, 2025, BRZ Anbima announced that registration in the REUNE system of financial transactions conducted by managers becomes mandatory as of Jun. 30, 2025.
Also, new versions of self-regulation documents, including Fiagro in force on Mar. 31.
New wording of Third Party Resource Administration and Management Code, and new versions of the self-regulation documents underwent public hearing without changes.
On Feb. 26, BRZ Anbima proposed to include Fiagro in self-regulation.
BRZ Anbima opened public hearing to include Fiagro as an autonomous fund category.
The term Fiagro stands for investment funds in agribusiness production chains.
Proposes registration in the REUNE System of fund operations conducted by managers.
Highlights
The purpose is to promote harmonization between participants' self-regulation rules.
So those involved in registration of negotiated transactions are under same guideline.
Changes align rules with product regulation in Annex VI of Resolution 214, #228109.
AGRT Code
AGRT stands for Code of Administration and Management of Third-Party Resources.
In current AGRT self-regulation, Fiagros follow rules for FIIs (Real Estate Investment Funds), FIPs (Equity Investment Funds) and FIDCs (Credit Rights Investment Funds).
Considered category within structured funds, Fiagros did not classify as specific fund.
Based on change in wording proposed, Fiagros will be included in the self-regulation.
They continue to follow guidelines in Supplementary Annex III of AGRT RP document.
RP of the Qualified Services Code
Changes to Rules and Procedures (RP) of Qualified Services Code to include Fiagros.
Amendment aimed to reinforce that the rules and procedures for custody of credit rights remain applicable to the portion of the Fiagros portfolio allocated to credit rights.
Definition is also aligned with guidelines in Annex VI of Resolution 175, see #157547.
Distribution Code RP
Fiagros are included as independent category in investment product scoring table.
Also, they must observe scoring tables of other funds based on assets concentration.
Certification RP
Re certifications, CGE certification requirement for management of Fiagros remains.
The draft provides for CGE or CGA certifications in case of Fiagros whose regulations allow 50% investment or more of equity in FIFs (Financial Investment Funds) assets.
REUNE System
Public hearing re Fiagros also includes changes in the registration of transactions made by funds in REUNE System, pre-registration platform for trading in secondary market.
Manager may outsource sending of data on managed portfolios, provided that he/she previously authorizes service providers, stock exchanges to register datd in system.
Qualified Services Code changed to provide for the maintenance of the flow of receipts.
Consultation
Comments must be submitted on or before Mar. 10, 2025.
Mar. 31, 2025 BRZ Anbima Effectiveness
On Mar. 31, 2025, BRZ Anbima announced that registration in the REUNE system of financial transactions conducted by managers becomes mandatory as of Jun. 30, 2025.
Also, new versions of self-regulation documents, including Fiagro in force on Mar. 31.
New wording of Third Party Resource Administration and Management Code, and new versions of the self-regulation documents underwent public hearing without changes.
