Tagged with: Banking, insurance and finance

More than three years after discussions began on reforming the regulations regarding the prevention of money laundering and financing of terrorism (AML/FT) within the national financial system,[1] the new rules have a definite date of entry into...

On May 4, after some months of public consultation, the National Monetary Council (CMN) and the Central Bank (BC) published a regulation[1] that governs the open banking in Brazil, one of the priority topics on what has been presented as the BC#...

The National Department of Business Registration and Integration (DREI), of the Ministry of Economy, published on April 15 Normative Instruction No. 79 regarding participation in and remote voting at meetings and assemblies of privately-held...

Given the unprecedented high volatility of the Brazilian capital markets and the restrictions imposed by governments on the movement of people due to the coronavirus pandemic, the Brazilian Securities Commission (CVM) has adopted several measures...

The National Monetary Council (CMN) issued two new resolutions on March 16 to ease prudential regulatory constraints imposed on banks in an attempt to maintain the flow of credit in the Brazilian economy and stimulate economic activity. The first...

Instruction 612/2019 of the Brazilian Securities and Exchange Commission (CVM) will enter into force in September of this year and bring in new obligations related to cyber security for securities market brokers. Although it is becoming...

The Central Bank of Brazil (Bacen) announced in February the launch of the Instant Payment System - PIX (SPI), which will allow the transfer of funds in real time between people and/or companies starting in November. In this article, we review the...

Nei Schilling Zelmanovits, Eduardo Castro, Gustavo Rugani, Thales Tormin Saito, Thais de Gobbi, Vicente Piccoli M. Braga, Pedro Duarte Pinho, Rodrigo Chiaverini Albano, and Pedro Augusto Cunha The Central Bank of Brazil (BCB) and the Brazilian...

On February 6, the Brazilian Securities and Exchange Commission (CVM) issued Instruction No. 619, which amends specific issues of Instruction No. 592/17 (on the activity of securities consulting), to expressly allow investment consultants based...

The Central Bank of Brazil (BCB) opened for public consultation, on November 28, drafts of a joint regulatory act of the National Monetary Council (CMN) and the BCB and a BCB Circular dealing with the introduction of a “Controlled Testing...

Investment Funds On September 20, 2019, Federal Law No. 13,874/19 was enacted, setting forth the Declaration of Rights of Economic Freedom. Among the changes promoted by the new law, we highlight innovations for the investment fund industry, with...

On October 7, the Executive Branch forwarded to the National Congress Bill (PL) No. 5,387/19, which allows for implementation one of the objectives of the current management of the Central Bank of Brazil (BCB) mentioned by the president of that...

Presidential Decree No. 10,029/19, published on September 27, authorized the Central Bank of Brazil (BCB) to recognize the following as being in the interest of the Brazilian government: (i) installation in Brazil of new branches of financial...

Law No. 12,414/11, as amended and regulated by Decree No. 9,936/19, regulated the formation and consultation of databases with information on performance, mandating, in its article 12, paragraph 3, that the National Monetary Council (CMN) adopt...

Legal entities and investment funds incorporated in Brazil have until August 15 to submit a report to the Central Bank of Brazil, detailing investments in their quotas and/or shares held by foreign investors on December 31 of the previous fiscal...

Executive Order No. 881 (MP 881), issued on April 30 of this year, aims to ensure and foster economic freedom in Brazil, as well as reduce bureaucracy in various industries. The principles that guide the text are: (i) presumption of freedom in the...

In 2013, shortly after scandals involving the manipulation of exchange rates and interest rates became public, the International Organization of Securities Commissions (IOSCO) published a report in response to a consultation on rules applicable to...

Heritage funds, also known as endowments or philanthropic funds, have recently been regulated by Presidential Decree No. 851, of September 10, 2018. These funds are sets of private assets organized, managed, and administered by an asset management...

Presidential Decree No. 9,544/18, published on the last 30th, acknowledged the interest of the Brazilian government in having foreign ownership of up to 100% of the capital stock of Direct Credit Companies (SCDs) and Interpersonal Lending Companies...

Resolution No. 4,662 of the National Monetary Council (CMN), issued on May 25 of this year, provides for the requirement of a bilateral margin of guarantee on transactions with derivative financial instruments carried out in Brazil or abroad by...

Banking, insurance and finance

New rules on the prevention of money laundering and financing of terrorism

Open Banking in Brazil

DREI regulates virtual meetings for limited liability companies, privately-held corporations, and cooperatives

Rules introduced to address concerns of the Brazilian investment fund industry due to the covid-19 pandemic crisis

The CMN's first responses to the coronavirus

New cyber security rules for the securities market in 2020

Bacen's Instant Payment System (SPI)

The regulatory agenda of the Central Bank and the CVM from 2020 onwards

New rule for foreign investment consultants to operate in Brazil

Proposals move forward to introduce Regulatory Sandbox in Brazil

The Economic Freedom Law

Highlights from the Bill on the Foreign Exchange Market

Decree facilitates the participation of foreigners in the National Financial System

Good Credit History and Resolution 4,737/19

Census of Foreign Capital in Brazil

Executive Order No. 881 and its effects on the Brazilian business sector

New method for calculating the DI rate

Heritage funds - a practical analysis of MP 851 and its challenges

Decree facilitates foreign participation in the share capital of credit fintechs

Bilateral margin requirement for over-the-counter derivatives

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