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Annual Report
ANBIMA
2011
Improvements to the processes of self-
regulation were performed, reinforcing ANBIMA’s
commitment to maintain, in relation to their
internal procedures, the same quality standards
expressed in the requirements of the Codes
of the Codes prepared by the representatives
of the segments that ANBIMA represents. The
Supervision of Investment Funds, for example,
received NBR ISO 9001:2008 certification in
2011.
As part of preparing for the audit prior
to certification, several changes contributed to
the standardization of the entire supervision
of funds process. Regular activities, such as
registration of funds, document analysis, in loco
supervision, investigation of irregularities and
the application of fines, for example, received
manuals and formalized procedures.
Throughout 2011, ANBIMA also began
implementing the new SBR methodologies
(
Risk-Based Supervision) in the areas of Private
Banking, Qualified Services, Certification and
Investment Funds. The methodology allows the
area of Supervision to focus its activities on the
indicators of high market risk, optimizing the
processes of supervision. In the funds segment,
for example, 20 in loco supervisory visits of
management were conducted, during which
four topics were addressed: organizational
structure, control of the liquidity management
of funds, division of lots policy and the proxy
voting policy.
SBR (Risk-Based Supervision): consists of
several visits focused on supervising the
topics of greatest market risk
Area
Visits
Certification
22
Investment Funds
20
Private Banking
15
Qualified Services
19
Three years after the CVM/ANBIMA agreement
was signed, the Association’s analysts
conducted training in the autarchy in order to
standardize and improve the processes that
involve the partnership. For four months, they
followed the day to day and the procedures
performed by the CVM professionals responsible
for analyzing the requests for registration of
public offerings. During 2011, ANBIMA’s area
of Supervision of Public Offerings analyzed
nine registration requests made through the
agreement. Four shares offerings and five
debenture offerings were analyzed.
As part of the monitoring activities of
institutions adhering to the Code of Offerings,
51
transactions were filed. In this case, there
were 15 share offerings, 2 debenture offerings,
16
CRIs (Real Estate Receivable Certificates),
12
OPAs (Public Offering for Acquisition of
Shares), 4 auctions of unsold shares, 1 Cepac
(
Additional Construction Potential Certificate)
and one financial bill. Among these offers, 16
were the subject of investigations and penalties,
resulting in the issuance of five guidance letters,
the application of 12 objective fines and the
execution of one commitment agreement.
