BTG Ganha Recurso Para Transformar FICFIP Em Multimercado
O BTG Pactual Serviços Financeiros S.A. DTVM e a Lorinvest Gestão de Recursos Ltda., respectivamente administrador e gestor do Lofoten Fundo de Investimento em Cotas de Fundos de Investimento em Participações (FICFIP), recorreram de decisão da Superintendência de Relações com Investidores Institucionais (SIN), que impugnou a transformação desse fundo (constituído nos termos da Instrução CVM 391/03) em um multimercado, (regulado pela Instrução CVM 409/04).
Os recorrentes entendem que a Instrução CVM 391/03, que rege a constituição do FICFIP, não proíbe a transformação em questão. E que a Instrução CVM 409/04, por meio do disposto no art. 119-A, se impõe como regra geral aos demais fundos desde que não seja contrária àquilo estabelecido em normas específicas. O art. 47, III da referida Instrução, portanto, legitimaria a assembleia geral de cotistas a deliberar sobre a iniciativa.
Já na opinião da SIN, o art. 47, III, trataria não da transformação de fundos de naturezas distintas, mas sim da mudança na forma de condomínio do fundo (aberto e fechado), ou de um clube de investimento em fundo. A área técnica acredita que as transformações do ordenamento legal de fundos por simples deliberação em assembleia, sem uma prévia análise pela Comissão de Valores Mobiliários (CVM), poderiam produzir circunstâncias prejudiciais à indústria de fundos.
No julgamento do referido processo, a relatora Ana Novaes entendeu que, somente...
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