Board Decision Authorizes Contractual Provision for Payment in
Case of Dismissal Without Cause; Additional Rules Also
Established
In a unanimous decision, the Board of the Brazilian Securities
and Exchange Commission (CVM), during a meeting held on April 1,
2025, approved the possibility of including a clause in the
regulations of Real Estate Investment Funds (FIIs) aimed at
qualified or professional investors, allowing for discontinuation
compensation to be paid to asset managers in cases of dismissal
without cause.
Additionally, by majority vote, the Board resolved the following
points:
- Prohibition of Management Fees Post-Dismissal:
It was established that management fees may not be charged for
periods following the manager's dismissal.
