Asset Management
Registration and regulatory organization of securities portfolio managers and administrators.
The professional administration of securities portfolios is subject to a specific regime before the CVM (Brazilian Securities and Exchange Commission). Asset managers and fiduciary administrators perform distinct functions, even though both integrate the service structure of many funds. The registration and organization of each participant must be compatible with its duties, its team and the controls necessary to fulfill the duties of diligence, loyalty and the treatment of conflicts of interest.
Legal work includes preparing registration applications, reviewing policies and structuring the contracts that govern the provision of services. Investment decision-making processes, the segregation of activities, information disclosure and relationships with distributors and other service providers are examined. Expansion into new strategies or vehicles requires an assessment of the corresponding rules. Governance must clearly establish the responsibilities of each agent, without presuming that the engagement of third parties eliminates the duties of the registered participant.
Our work
- Preparation of portfolio administrator registrations
- Conflict policies and segregation of activities
- Management and service provision contracts
Do asset managers and fiduciary administrators perform the same function?
No. They are categories and functions with their own duties. The division of tasks must observe the regulations and the vehicle's documents, preserving the duties of each service provider.
Editorial review: