CVM publishes guidelines on Resolution 175 standards for FIDCs, FIIs, and Fiagros

By Juliana Garçon Rio, 11/17/2025 - The Comissão de Valores Mobiliários (CVM) published this Monday a circular letter to clarify the understanding of its technical area regarding provisions of Resolution CVM 175 and the related normative annexes concerning Funds of Investment in Credit Rights (FIDC), Real Estate Investment Funds (FII), and Investment Funds in the Agrobusiness Productive Chains (Fiagro). The document addresses the equivalence of Fiagro quotas to FIDC quotas; the responsibility of the FIDC manager for verifying the collateral; FIDCs aimed at professional investors and the collection agent; receipt of guarantees from FIDCs; investment in FIDC quotas by FII; investment of FIDCs in quotas of other FIDCs of the same manager; registration of credit rights invested in ...