Annual Report
ANBIMA
2011
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21
The year was also marked by the expansion
of the self-regulation activities, with the
launching of the ABVCAP/ANBIMA Code
for the FIP Market (Private Equity) and FIEE
(
Venture Capital Funds), which entered
into effect in January. The purpose was to
standardize and promote the development of
private equity and venture capital practices,
in addition to preparing the self-regulatory
framework that will allow the creation of a
database for the segment.
Throughout the year, the Retail Distribution
Committee also discussed and debated
the content of the Code for the segment,
scheduled for launch in 2012, in an initiative
that already projects an increase in the scope
of the entity’s self-regulation activities for the
subsequent year. The objective is to establish
quality and safety standards in the processes
of retail distribution. It is worth noting that,
throughout 2011, the Association approved the
expansion of the suitability application process.
The institutions will begin administering a
questionnaire to the investors of all investment
funds (ICVM 409 and structured funds), fixed
income products and derivatives.
The continuous discussion among ANBIMA
bodies also occurred in events organized by
the area of Representation, from which more
than 1,900 people participated, including
representatives from the public and private
sectors. Among the large events promoted in
2011
was the 6
th
ANBIMA Capital Markets
Seminar, which took place in April, the 6
th
ANBIMA Investment Funds Congress, which
occurred in May, the 8
th
ANBIMA Capital
Markets Law Seminar, which was held in
August, and the 4
th
ANBIMA Seminar on Fixed
Income and OTC Derivatives, which occurred
in October. The Association organized and
participated in the 5
th
Fiafin’s Meeting (Ibero-
American Federation of Investment Funds),
which took place in São Paulo. The event, which
occurred simultaneously with the Conference
on Investment Funds, featured the presence of
representatives from Argentina, Chile, Columbia,
Costa Rica and Mexico, who discussed issues
regarding the integration of industry funds
from Latin American countries. Among the
topics discussed were regulation, taxation and
exchange of funds of Latin American countries.
Finally, in line with the objective of expanding
both the international integration of ANBIMA,
as well as the Brazilian capital markets, the
area of Representation continues its efforts
to strengthen the relationship with the
international community. Eduardo Penido,
member of the ANBIMA funds committees,
which now presides over Fiafin, was elected
in 2011 as president of IIFA (International
Association of Investment Funds). The
Association also signed a cooperation
agreement with Kofia, a counterpart entity
to the Korean market, to strengthen the
relationship between the representatives of
the two markets.
