Latest updates

New rules for credit fintech companies
BMA Barbosa Mussnich Aragao
  • Brazil
  • 27 July 2018

The National Monetary Council recently issued Resolution 4,656, regulating credit fintech companies. The resolution will allow direct credit companies and interpersonal loan companies to conduct loan and financial operations through electronic platforms. Although it is still uncertain how the market will react to the new rules, the industry is optimistic, considering the significant developments in this area that have been observed in other markets.

CADE and Central Bank sign memorandum for further cooperation
BMA Barbosa Mussnich Aragao
  • Brazil
  • 13 April 2018

The Administrative Council for Economic Defence (CADE) and the Central Bank recently entered into a memorandum of understanding. This initiative strengthens the relationship between the two authorities and promotes greater cooperation among them for the analysis of merger cases and anti-competitive practices by financial institutions. It also represents an important step forward, signalling the end to the longstanding dispute between CADE and the Central Bank over jurisdictional conflicts.

Fiduciary cession of rights as security
  • Brazil
  • 30 April 2010

Pursuant to Article 66-B(3) of Law 4.728/65, security can take the form of security bonds, a chattel mortgage of unfungible and fungible movables or a fiduciary cession of rights over movables. However, the legal system also accepts the establishment of atypical fiduciary legal business activities as security, such as the fiduciary cession of rights.

Overview (April 2004)
  • Brazil
  • 16 April 2004

Including: Defining Trends and Challenges; Regulatory Agency and Legal Framework; Licensing; Universal Banks; International Banks; Ownership Restrictions; Equity Interests of Existing Investors; Additional Approvals for Transfers of Control to Non-Brazilian Buyers; Trends in Limitations on Non-Brazilian Shareholdings; Prudential Regulations; Capital Adequacy Ratios; Capital Requirements.

Uncertainties Remain in Online Banking Sector
  • Brazil
  • 02 August 2002

Due to the absence of specific regulations, financial institutions should exercise a degree of caution when providing online financial and banking services in Brazil. Certain requirements must be complied with, and foreign banks must take care that they do not need to seek authorization from or registration with the Brazilian authorities.

Financial Sector Awaits Consumer Defence Ruling
  • Brazil
  • 19 April 2002

The applicability of the Brazilian Consumer Defence Code to the financial sector remains controversial following the filing of a lawsuit by several banks and the issuance of a resolution that establishes the regulatory provisions applicable to transactions and services rendered between financial institutions and their clients.

Overview (February 2002)
  • Brazil
  • 01 February 2002

Including: Central Bank of Brazil; Preventative and Protective Regulation; Other Risk Management Measures; The New Brazilian Payment System.

Central Bank Regulates Foreign Investments
  • Brazil
  • 14 September 2001

The Central Bank is the governmental department responsible for controlling and registering foreign investments, as well as the repatriation of capital and the remittance of profits abroad.

Monetary Council Changes Reference Capital Criteria
  • Brazil
  • 29 June 2001

Resolution 2,837 of May 30 2001 provides new criteria for tier one and tier two reference capital. The resolution also lists new conditions for hybrid instruments.

New Circular Regulates Cross-Border Financing
  • Brazil
  • 20 April 2001

According to new Circular 3,027, cross-border financing by non-Brazilian entities to Brazilian entities is subject to electronic filing with the Central Bank, regardless of the currency that is used.

Council Introduces Liquidity Control Systems
  • Brazil
  • 09 February 2001

Resolution 2804 of the National Monetary Council concerns the implementation of liquidity control systems for all financial institutions. It is regarded as an important step towards the establishment of the new clearing system.

Central Bank Regulates Cross-Border Transactions
  • Brazil
  • 15 December 2000

Resolution 2770 of the Central Bank of Brazil regulates cross-border loans between those domiciled in Brazil and abroad. It is hoped that the new system will facilitate the access of domestic private companies and financial institutions to international markets.

Domestic Regulation of Offshore Investments
  • Brazil
  • 20 October 2000

This update discusses the Central Bank's regulation of foreign investments and international transfers of currency, including provisions to combat money laundering.

Overview (July 2000)
  • Brazil
  • 14 July 2000

Including: Central Bank of Brazil; Preventative and Protective Regulation; Other Risk Management Measures

Camila Goldberg Cavalcanti
BMA Barbosa Mussnich Aragao
  • Rio de Janeiro
  • Brazil
José Inácio Ferraz De Alemeida Prado Filho
BMA Barbosa Mussnich Aragao
  • Sao Paulo
  • Brazil
Vivian Terng
BMA Barbosa Mussnich Aragao
  • Sao Paulo
  • Brazil
BMA Barbosa Mussnich Aragao
BMA Barbosa Mussnich Aragao
Basch & Rameh
Basch & Rameh