What APIMEC Brasil does

APIMEC Brasil is a São Paulo-based non-profit professional association founded in 1950 that operates as the sole authorized credentialing and self-regulatory body for securities analysts in Brazil, designated by the CVM under Resolution 20/2021 and additionally authorized by the Ministry of Social Security for RPPS pension-fund analyst certifications. Its core products are the CNPI analyst credential, quarterly credential renewals for individuals and legal entities, proctored certification examinations (administered with FGV and FK Partners, including AI-enabled proctoring for RPPS), and the Trilha do Conhecimento structured continuing-education curriculum. The business model is fee-based and recurring: members pay annual/quarterly credentialing fees (R$299-R$1,529 per quarter), one-time exam fees (R$195-R$370), and ongoing training and membership dues, with the customer base spread across roughly 1,145 individual analysts and 125 legal entities (banks, asset managers, brokerages, and pension funds). APIMEC also convenes industry councils alongside ANBIMA, participates in CBPS/ISSB sustainability standard-setting, and has modernized its operational and digital platform to support additional verticals such as RPPS certification launched in April 2025.

Name

APIMEC Brasil

Legal name

ASSOCIAÇÃO DOS ANALISTAS E PROFISSIONAIS DE INVESTIMENTO DO MERCADO DE CAPITAIS DO BRASIL

Website

https://apimec.com.br

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

11–50 employees

Short description

APIMEC Brasil is the CVM-authorized non-profit association that certifies and regulates securities analysts in Brazil, serving approximately 1,145 individual analysts and 125 legal entities through credentialing exams, recurring credential fees, and continuing education programs.

Ownership category

akta.pro rank

Product category

Financial Professional Certification Services

NAICS

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors (92615)

akta.pro primary industry

Financial Services Regulators (Banking, Securities, Insurance) (BPAIAOAK)

akta.pro secondary industries

Credential, Education & Professional License Verification (BPAKAEAI), Qualifications Framework Authorities (NQF/Skills Framework) (EDADAFAB), Psychometric Standards, Test Development & Validation Authorities (EDADAFAG), KYC/Client Due Diligence & Participant Onboarding Controls (FSAFAKAF)

Keywords

• Professional certification services
• Securities analyst credentialing
• Self-regulatory organization
• Continuing education programs
• Investment professional licensing

Headquarters

HQ city

São Paulo, São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Certificação e Credenciamento: APIMEC Brasil charges fees for certification exams (CNPI, CNPI-T, CNPI-P) and credentialing (quarterly fees for both individual analysts and legal entities). Fees vary by credential type and legal entity capital tier.
2. Anuidade de Associados: Revenue from annual membership fees paid by associated analysts and investment professionals who join APIMEC Brasil for access to events, publications, and professional network benefits.
3. Envio de Relatórios de Análise: Analysts credentialed by APIMEC must submit analysis reports within 3 business days of distribution, maintaining regulatory compliance under Resolution CVM 20/2021.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

APIMEC Brasil is the authorized self-regulatory body for securities analysts in Brazil under CVM Resolution 20/2021. It credentials and certifies individual analysts (CNPI, CNPI-T, CNPI-P, CNCI) and legal entity analysts, administers continuing education programs (PEC, PQC, Trilha do Conhecimento), and supervises analyst conduct through its SSA, CSA, and CCA governance bodies. It also certifies RPPS public pension professionals under Ministry of Social Security authorization.

Product overview

APIMEC Brasil operates as a self-regulatory organization for securities analysts in Brazil under CVM Resolution nº 20/2021, offering a comprehensive portfolio of professional certifications and educational services. The core offerings include CNPI (Fundamentalist Analyst), CNPI-T (Technical Analyst), CNPI-P (Full Analyst), and CNCI certifications for investment professionals, with validity periods of 5 years requiring continuing education through the PEC program. The organization also provides specialized RPPS (public pension system) certifications including CP RPPS DIRIG, CP RPPS CODEF, and CP RPPS CGINV for professionals managing Brazil's municipal, state, and federal pension schemes. The product portfolio includes the Trilha do Conhecimento educational platform for continuous professional development, the centralized Sistemas APIMEC Brasil web portal for credential management and report submission, and self-regulatory services through the SSA, CSA, and CCA committees. Supporting services include analysis report submission, complaint handling, and technical publications. The platform operates in partnership with FK Partners for RPPS exam administration and FGV for CNPI exam registration.

Differentiator

Problem solved

Functional benefit

Products and services

• CNPI - Certificado Nacional do Profissional de Investimento
• CNPI-T - Analista Técnico
• CNPI-P - Analista Pleno
• CNCI - Certificado Nacional do Consultor de Investimento
• CIIA - Certified International Investment Analyst
• CGRPF-A/I - Certificação de Gestores de Riscos de Produtos Financeiros
• CP RPPS DIRIG
• CP RPPS CODEF
• CP RPPS CGINV
• PEC CNPI - Programa de Educação Continuada
• PQC CP RPPS - Programa de Qualificação Continuada
• Trilha do Conhecimento
• Associe-se (Associate Membership)

Quantifiable outcome

• Over 1,400 total credentialed analysts (1,145 individual + 125 legal entities) operating in the Brazilian capital markets under APIMEC's regulatory oversight.
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• MZ Group (mzgroup.com)minorOthersMZ Group provides website management and digital infrastructure services to APIMEC Brasil, as evidenced by the 'Powered by MZ' attribution on the APIMEC website footer and the MZ Sites CMS platform used for content management.
• FGV (Fundação Getulio Vargas) / CertPessoascoreChannel Partner/ Reseller/ DistributorFGV administers CNPI, CNPI-T, and CNPI-P certification exams through its CertPessoas platform (certpessoas.fgv.br/apimec). This includes exam scheduling, administration, and result management for all APIMEC certification candidates in Brazil.
• FK PartnerscoreChannel Partner/ Reseller/ DistributorFK Partners is a leading finance education school in Brazil that administers APIMEC's RPPS certification exams (CP RPPS DIRIG, CODEF, and CGINV) using AI-powered technology and online proctoring. Exam enrollment and payment are processed through the FK Partners platform (fkpartners.com/certificacoes-rpps).
• CBPS (Comitê Brasileiro de Pronunciamentos de Sustentabilidade)coreStrategic or Co-development PartnerAPIMEC Brasil participates in CBPS as an effective member and contributes to the development of sustainability reporting standards in Brazil. CBPS is the Brazilian body overseeing IFRS Sustainability Standards (ISSB/IFRS S1/S2), and APIMEC's technical commissions provide input on sector-specific guidance.
• ISSB / IFRS FoundationminorStrategic or Co-development PartnerAPIMEC Brasil contributed to the ISSB (International Sustainability Standards Board) consultation on proposed amendments to SASB Standards and IFRS S2 Sector Guidance, submitting comments to the IFRS Foundation in July 2026. Contributions were coordinated through CBPS and submitted directly to ISSB.
• ANBIMA (Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais)coreStrategic or Co-development PartnerAPIMEC Brasil holds five seats on ANBIMA councils: Conselho de Administração de Recursos de Terceiros (Antônio Jorge Vasconcelos da Cruz), Conselho de Distribuição de Produtos de Investimentos (Vinicius Correa e Sá), Conselho de Negociação de Instrumentos Financeiros (Pedro Manoel Vieira Rosa), Conselho de Ofertas Públicas (Mara Limonge), and Conselho de Serviços Qualificados (Amarílis Prado Sardenberg). Representatives serve from 04/2023 to 04/2025.
• CPC (Comitê de Pronunciamentos Contábeis)minorOthersAPIMEC Brasil displays the CPC logo on its Representations page, indicating a working relationship or mutual recognition in the context of accounting standards relevant to securities analysis.
• FACPCS (Fundação de Accounting e Perícia em Ciências Contábeis)minorOthersAPIMEC Brasil displays the FACPCS logo on its Representations page, indicating a working relationship with the São Paulo chapter of accounting professionals.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• ICMA (International Capital Market Association): ICMA is the global trade association for capital markets, setting standards and guidelines for primary and secondary bond markets. It is comparable to APIMEC Brasil as a self-regulatory standards body that influences capital markets conduct rules internationally, though with a broader institutional rather than individual analyst focus.
• ANBIMA: ANBIMA is Brazil's broader capital markets industry association that represents financial institutions, asset managers, and distributors. While APIMEC certifies analysts, ANBIMA sets broader industry rules and standards — making it a broad incumbent peer that operates in the same regulatory ecosystem and even shares governance representation with APIMEC.

Direct peers

• Society of Actuaries: The Society of Actuaries administers actuarial credentialing examinations, continuing education requirements, and codes of professional conduct. It is comparable to APIMEC Brasil as a specialized professional certification body with rigorous examination-based credentials and ongoing professional development mandates.
• Chartered Institute for Securities & Investment (CISI): CISI is a UK-based professional body that issues certifications for securities, investment, and financial services professionals, with globally recognized qualifications. It is directly comparable to APIMEC Brasil as both operate as national/regional certification authorities for capital markets professionals with code of conduct enforcement.
• CFA Institute: CFA Institute is the global standard-setter for investment professional credentialing, administering the CFA Program. It is the most directly comparable peer to APIMEC Brasil in terms of issuing recognized analyst/investment certifications, continuing education, and enforcing a code of ethics for securities analysis professionals.
• CAIA Association: CAIA Association administers the Chartered Alternative Investment Analyst credential and focuses on alternative investment education. It is comparable to APIMEC Brasil as a specialized professional certification body in the investment/financial analysis space with rigorous examinations and continuing education requirements.
• GARP (Global Association of Risk Professionals): GARP administers the FRM (Financial Risk Manager) certification and is a globally recognized professional body for risk and finance practitioners. It is comparable to APIMEC Brasil as a financial services certification authority that issues widely recognized professional credentials and enforces continuing education standards.
• NASBA (National Association of State Boards of Accountancy): NASBA coordinates U.S. state accountancy boards and the Uniform CPA Examination. It is structurally analogous to APIMEC Brasil as a credentialing/regulatory body that administers professional examinations and coordinates self-regulation for licensed practitioners under statutory authority.

Others

• NICSA (National Investment Company Service Association): NICSA serves investment management operations professionals through education, networking, and standards. It is adjacent to APIMEC Brasil as a professional association serving the investment industry, though with an operational rather than analyst-credentialing focus.
• B3 (Brasil Bolsa Balcão): B3 operates the Brazilian stock exchange and clearinghouse infrastructure. While APIMEC regulates securities analysts, B3 operates the markets those analysts cover — making it a complementary ecosystem participant rather than a direct competitor, with overlapping regulatory dialogue via CVM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

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• YouTubeyoutube.com/c/ApimecBrasil
• Facebookfacebook.com/apimecbrasil
• LinkedInlinkedin.com/company/apimecbrasil
• Instagraminstagram.com/apimecbrasil

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APIMEC Brasil