Banking, insurance and finance 4n6dr
Highlights from the Bill on the Foreign Exchange Market 715re
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 organization, in his inauguration ceremony in March of this year: “to make the market more open to foreigners, with a possible convertible currency[1] that serves as a reference for the region."
Good Credit History and Resolution 4,737/19 4l6g5q
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 complementary measures and standards on the provision of information by institutions authorized to operate by the Central Bank of Brazil (BC).
Executive Order No. 881 and its effects on the Brazilian business sector 5q3452
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.
Census of Foreign Capital in Brazil 5w5v70
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 year, or the outstanding short-term trade debts owed to non-residents on the same date, in the following situations:
New method for calculating the DI rate 2l4mu
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 financial benchmarks. Not surprisingly, concerns were raised about the fragility of certain benchmarks, particularly in of integrity and continuity.
Census of Brazilian capital abroad 2k5o6q
Individuals and legal entities resident, domiciled or with headquarters in Brazil, as provided for in tax law, must report to the Central Bank of Brazil the assets and amounts held by them outside the country.
Bilateral margin requirement for over-the-counter derivatives 6050h
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 financial institutions and other institutions authorized to operate by the Central Bank of Brazil (Bacen).
Decree facilitates foreign participation in the share capital of credit fintechs 5d4l47
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 (SEPs) authorized to operate by the Central Bank of Brazil (Bacen), also known as credit fintechs.
Heritage funds - a practical analysis of MP 851 and its challenges 2ph2j
Heritage funds, also known as endowments or philanthropic funds, have recently been regulated by Presidential Decree No. 851, of September 10, 2018.
Brazilian National Monetary Council regulates credit fintechs 612e35
After extensive discussion with market participants by means of the Public Consultation No. 55/2017, published by the Central Bank of Brazil (Bacen) on August 30, 2017, the Brazilian National Monetary Council (CMN) issued Resolution No. 4,656 on April 26, which created two new types of financial institutions specialized in loan transactions using electronic platforms: direct lending companies (SCD) and peer-to-peer lending companies (SEP).
STJ recognizes effective enforceability of electronic loan agreements signed through the I-Brasil 1r4e2b
The Superior Court of Justice (STJ) established an understanding that electronic loan agreements signed through the Brazilian Public Keys Infrastructure (I-Brasil) have the enforceability of an enforceable instrument, thus dispensing with the need for signature by two witnesses. The opinion was obtained in the judgment of Special Appeal No. 1.495.920/DF, of the authorship of Justice Paulo de Tarso Sanseverino, on May 15, 2018.
Census of Foreign Capital in Brazil 5w5v70
Legal entities and investment funds incorporated in Brazil must submit a report to the Central Bank of Brazil, detailing investments in their quotas and/or shares held by foreign investors, or the outstanding short-term trade debts owed to non-residents, on December 31 of the previous fiscal year, in the following situations:
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