The deadline for securities portfolio managers and securities consultants — whether individuals or legal entities — holding an active registration with the Brazilian Securities and Exchange Commission ("CVM") to complete the annual update of the Reference Form ("FR") and to submit the Electronic Compliance Declaration ("DEC"), based on the positions as of December 31, 2025, falls on March 31, 2026, pursuant to CVM Resolutions Nos. 21 and 19, respectively.
The obligation remains in force even if the participant is not currently engaged in the activity during the period. Individuals acting exclusively as partners, employees, or agents of a legal entity and who are identified in the corresponding item of the legal entity's FR are exempt from filing the FR individually.
Both documents must be submitted through the CVMWeb System. It is recommended that the DEC be filed prior to the update of the FR. Non-compliance with the deadline subjects the participant to the imposition of a coercive fine, pursuant to CVM Resolution No. 47.
