In recent days, the case generated significant repercussions in the market, with fears about the possible repercussions on income distribution and tax. The case discusses whether the fund continues to pay income despite reducing the market value of its assets, as happened with real estate during the pandemic.

The most recent decision by the CVM referred only to the request for suspensive effects. The suspensive effect ceases to be valid if the request for reconsideration is not presented or if the collegiate rejects it. The collegiate understood that the immediate fulfillment of the previous decision could imply operational obstacles and took into account the number of MaxiRenda shareholders - there are about 500 thousand individuals. The regulator also considered possible repercussions on other funds in the same situation.

Experts point out a conflict between what Law 8,668 says, which regulates real estate funds in Brazil, and accounting standards. In the case of Maxi Renda, the technical area of the CVM understood that the distribution of income was carried out in amounts greater than the profits for the years or accumulated. At the same time, they increased losses and reduced equity. Thus, income distribution would not result from income or profit earned by the fund but from the allocation of capital invested by the investors themselves.