Funds in Transformation: The Legacy of RCVM 175 and The New Agenda For FIPS

Since the end of the adaptation period to CVM Resolution 175 (06/30/2025), the investment fund market has entered a decisive new phase. In effect since 10/02/2023, RCVM 175 modernizes the legal framework, aligns Brazil with international practices, and incorporates the principles of the Economic Freedom Law (Law 13,874/2019).

This means greater regulatory clarity and market standardization, strengthened governance for administrators and managers, and increased predictability and legal certainty for investors.

*This content was produced with the collaboration of law clerks Gabriela Ko and Mateus Varella