Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

December 11, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Brazil has a large and diverse investments funds sector which is subject to a robust regulatory framework. The competent authority, the Comissão de Valores Mobiliários (CVM), requires high standards of the entities it oversees and makes good use of the extensive data it receives from market participants on an ongoing basis. Fiduciary administrators play an important role as the main gatekeeper for investment funds and, despite the highly concentrated nature of the industry, there is evidence that they make a significant contribution to the safety and soundness of the sector as a whole.

Series:

Country Report No. 18/358