The engagement in international forums is a key part of ANBIMA's strategic vision. This activity is organized according to the Association’s different roles in the local market.
To ensure the representation of the Brazilian capital market institutions, ANBIMA integrates international entities that bring together peer Associations to represent the respective markets and players or the segment of local investment funds, such as ICSA and IIFA.
As part of its mandate as a self-regulatory organization, ANBIMA collaborates in the forums of IOSCO, an entity that brings together regulators and self-regulators from more than 100 jurisdictions around the world and acts as the main standard setter for capital markets.
ANBIMA’s international strategy is directly monitored by a C’ level group of the Association, aiming to ensure appropriate objectives and direction.
No que se refere às prioridades, a atuação da ANBIMA nos fóruns internacionais tem como principais objetivos:
Considering its twofold strategy, the main objectives of ANBIMA’s performance in international forums are:
- To contribute to discussions in international entities on business models, policies and trends representing the local capital market and/or the Brazilian funds industry,
- To collaborate to establish global regulatory standards leveraging on our SRO activity and/or through the information sharing about rule making, supervision and enforcement tools deployed by ANBIMA’s self-regulation.
- To keep members and other stakeholders informed about key regulatory developments and trends in the capital market, anticipating impacts for the segment in Brazil and providing technical support in local discussions.
Brazilian Capital Market and Investment Funds Industry International Representation
IIFA – The International Investment Fund Association
ANBIMA is a member of IIFA and currently a Board member. The IIFA holds an Annual Meeting and the IIFA Board meets semi-annually. The IIFA brings together 40 national and regional Investment Funds Associations from all 5 continents. It serves as forum for exchanging information and sharing best practices related to the investment fund (mutual funds) industry, and also as a communication platform for the global investment funds industry.
Fiafin – Federacion IberoAmericana de Fondos de Inversion
ANBIMA is a member of Fiafin and coordinates it working group of Regulatory Affairs. The Iberoamerican Federation of Investment Funds (Fiafin for its acronym in Spanish) brings together fund industry representatives of the main Latin American countries, in addition to Spain and Portugal, and hold yearly meetings.
ICSA – International Council of Securities Association
ANBIMA joined ICSA in 2022 and became full member since 2023. ICSA is comprised of 20 Associations representing equity, bond and derivatives market in Europe, Americas, and Asia with the objective of encourage the sound growth of international capital market, promoting harmonization and the exchange of information among its members. ICSA holds Annual General Meetings, semi-annual meetings (in hybrid format) and thematic briefing sessions.
ICMA – International Capital Market Association
ANBIMA is an associate member of ICMA which brings together over 600 members active in all segments of international debt capital markets in 66 jurisdictions and focuses on a comprehensive range of market practices and regulatory issues that are common to ANBIMA’s including those related to primary, secondary, repo and collateral segments, and cross cutting themes of sustainable finance and FinTech. ICMA members meet in its AGM.
OCDE-INFE – International Network on Financial Education
As part of ANBIMA’s Education initiatives, the Association is an affiliate member and takes part in debates and discussion groups of this international network, which foster programs and initiatives on financial education.
Collaboration to IOSCO work and IOSCO fora
IOSCO – International Organization of Securities Commissions
ANBIMA is a member of IOSCO since 2005 and has been contributing to the workplan of IOSCO in the last years in areas such as asset management, cybersecurity, retail distribution and public offers through its collaboration in the AMCC and COSRA and in the several events and discussions promoted by the entity. IOSCO holds an Annual Conference that includes the Presidents Committee general meeting, besides other meetings. More information: IOSCO Factsheet (Nov 2022) and IOSCO workprogram 2023-24.
AMCC – Affiliate Members Consultative Committee
ANBIMA is an active member of the AMCC since 2005, collaborating in its semi-annual meetings, roundtables, working groups and related documented contributions to IOSCO work. Between 2012 and 2018, ANBIMA’s CEO was elected for 3 terms as the Committee Chair and, in this capacity, participated as an observer in IOSCO Board meetings. The AMCC meetings take place twice a year: in the IOSCO Annual Conference and at the midyear Meeting connected with a Training Staff Program. Recent working groups also joined by ANBIMA include Bond market liquidity, sustainable finance, and Fintech.
Cosra – Council of Securities Regulators of Americas
COSRA is comprised of securities regulators and SRO from the Americas region and meets annually to discuss global and regional capital market regulatory issues. The COSRA meets generally in conjunction with the IARC – The Inter-American Regional Committee, one of four regional committees constituted by IOSCO to focus on regional issues relating to securities regulation.
ANBIMA’s international activity and workplan will also lead to the Association’s participation in international public consultations, surveys, roundtables, and research. Check the recent documents related to this activity:
- ISSB Consultation on Sustainable Disclosure Standards – Contribution from the ANBIMA Sustainability Consultative Group WG – July 2022
-IOSCO Consultation on Retail Market Conduct – ANBIMA Contribution to the work of RMCTF
-IOSCO Consultation on AI – Artificial Intelligence – Feedback to the Public Consultation
- IOSCO Consultation Report on Leverage – ANBIMA Comments – Feb 2019
- FSB Consultative Document on Proposed Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities – Comments from ANBIMA – Sep 2016
- FSB Consultative Document (2nd) on Assessment Methodologies for Identifying Non-Bank Non-Insurer Global Systemically Important Financial Institutions (NBNI SIFI) – Comments from ANBIMA - May 2015
- Consultation Report of the IOSCO Task Force on Cross Border Regulation – ANBIMA comments to the Consultation – Feb 2015.
We are membres of the Affiliate Members Consultative Committee (AMCC) of the International Organization of Securities Commissions (IOSCO), a renowned body in charge of establishing global standards for the sector.