25 anos da autorregulação

In 2023, ANBIMA’s self-regulation completes 25 years of contribution to the development of financial and capital markets. Throughout this journey, self-regulation proved to be dynamic and up to the challenges faced.

Voluntary in nature, the rules are prepared by market professionals, thus preventing them from being disconnected from the reality of institutions.

The work is always aligned with regulation and the necessary supervision to verify whether best practices are actually being followed.

Today, 25 years later, ANBIMA’s self-regulation model is one of the most transparent, robust and agile in the world. Nevertheless, more than celebrating the achievements of the past, it is time to look to the future of self-regulation and the necessary advances considering market challenges.

Shall we embark on this journey together?

Play Video

How does market self-regulation work?

Voluntary membership

Institutions adhere to the codes voluntarily.

Preparation of rules

Members meet in forums and committees.

Market oversight

ANBIMA supervises whether institutions comply with the codes.

Healthier business environment

Rules designed to protect investors.

Education

Money generated from penalties must be converted into educational actions.

A journey through 25 years of ANBIMA self-regulation

The beginning of self-regulation

The historical context of the market in the years prior to the emergence self-regulation

Self-regulation milestones

The 1998 Public Offering Code was the first step towards self-regulation. Since then, many others emerged

The future of self-regulation

Digital assets, ESG, new technological solutions and business models are some of the challenges ahead.

ANBIMA celebrates 25 years of self-regulation with a look to the future

The meeting took place in São Paulo and brought together important names in the financial market to celebrate this milestone

Self-regulation and market sustainability

The meeting took place in São Paulo and brought together important names in the financial market to celebrate this milestone

1990 – Start of discussions

December 9, 1998

ANBID (National Association of Investment Banks) launches the Public Offering Code

2000 - Investment Funds Code

Principles on the creation and operation of funds by administrators, managers and distributors

2002 - Code of Certification

Technical training of professionals who served investors.

2004 - Code of Custody

Rules for activities involving the provision of custody services for issuers and investors, bookkeeping and controllership of assets and liabilities.

2006 - Private Banking Code

Parameters and best practices for services provided to high-income clients.

2006 - IOSCO recognizes ANBID as self-regulator

From that moment on, ANBID started being part of the international self-regulation committee.

2007 - Code of Proceedings

Investigations and proceedings for non-compliance with codes, guaranteeing institutions the right to defense and agility in trials.

2008 – 1st agreement with CVM

(For simplified registration of orders and taking advantage of sanctions)

2008 – Agreement with CVM (penalties and signing of terms)

2009 – Merger of ANBID and ANDIMA

2010 - FIP, FIEE and Financial Instruments Trading Codes

2011 - Asset Management and New Fixed Income Market Codes

2012 - Retail Product Distribution Code

2013 - Asset Management Code

2016 - Retail Code

2017 - Code of Proceedings

2018 - Third Party Asset Management and Distribution Codes

2018 - Agreement with CVM

(To take advantage of the Self-Regulation of Investment Funds)

2019 - Change of perspective in codes

The parties stopped focusing on products to look at the activities Publication of the Investment Products Distribution Code.

2020 - The Third-Party Asset Management Code starts self-regulating managed portfolios.

2021 - In the Distribution Code, the suitability rules and risk classification of investment products were reviewed.

2021 - Agreement with CVM

(To monitor investment influencers)

2023 - The FIP/FIEE Code was revoked and the Third-Party Asset Management Code started addressing the rules applicable to Equity Investment Funds (FIP) in one of its annexes.

Over these 25 years, ANBIMA’s self-regulation has proven to be dynamic and up to the challenges faced. This was only possible due to the work performed in line with the regulations themselves and the active participation of market representatives. This means everyone wins: The market wins a healthy business environment and investors can count on rules designed to protect them.

Let’s build more decades of history together!

Play Video

O que é a autorregulação?

A autorregulação foi um dos fatores determinantes para a evolução do mercado em bases sólidas e seguras.

Play Video

Como surgiu a autorregulação?

A história da autorregulação teve início com a publicação do primeiro código, o de Ofertas Públicas, em 9 de dezembro de 1998.

Play Video

Como funciona a autorregulação?

Atuando em conjunto com a regulação da CVM, o modelo de autorregulação da ANBIMA é um dos mais transparentes, robustos e ágeis do mundo.

Play Video

Lorem ipsum dolor sit amet

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin diam mi, fringilla sed massa convallis.