By the 10th business day after month-end
Monthly
What it is
Article 14, item I, of Resolução CVM No. 13/2020 requires the representative of a CVM-registered non-resident investor to file, through the regulator electronic system, a monthly report in the Annex B format within 10 business days after the end of each month. The file carries the details of the own-account holder or collective-account participant, the period cash movements — inflows, outflows, transfers between investment types, and funds received from or transferred to another representative —, the portfolio broken down into 30 categories (from equities to real-estate, private-equity and receivables fund units, plus derivatives and cash), the market value (Level 1 fair value) on the last business day of the month or the acquisition cost in its absence, the net notional amount of derivative positions, and net assets. Holdings measured at market and at cost are reported separately. This is also the filing that carries the supporting documentation for position transfers between non-resident investors permitted by article 20. Mind the norm: the basis is Resolução CVM 13, not Joint Resolution BCB/CVM No. 13, which governs market access and says nothing about reports.
Who must comply
The non-resident investor representative in Brazil — a financial institution or an institution authorised to operate by the Central Bank, which may be the very intermediary through which the investor trades. Central depositories, custodians, organised-market operators, registrars, settlement systems, bookkeeping agents and fund administrators must supply the representative with the required data (article 14, § 1).
Penalties for non-compliance
A daily fine for missing the deadline (article 23) and, on top of it, a serious violation for the purposes of article 11, § 3, of Law 6,385/1976 (article 24).
Official source
Resolução CVM 13/2020, art. 14, IHow Arkar automates it
The report XML comes from the same data that struck the unit price: position per non-resident holder, classification into the 30 Annex B categories and last-business-day market value already computed at close. Validation before submission, a status pipeline, and business-day calendar alerts.
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