Banking, insurance and finance 4n6dr
Central Bank completes regulations for the issuance of Secured Real Estate Letters 6o4p1n
The Central Bank of Brazil (Bacen) has completed the regulations necessary for the issuance of Secured Real Estate Letters (LIG), with the issuance of Circular No. 3,895/18, on May 4. The norm provides for the procedures for a centralized deposit of LIGs and for a centralized registration or deposit of the assets that make up the asset-backed portfolio securing the issuance of that instrument.
New regulatory proposal for loans with related parties 6iu41
On March 29, the Central Bank of Brazil published Public Notice No. 64/2018, containing a proposed resolution to regulate the conditions and limits on credit transactions with related parties by financial institutions and leasing companies.
CVM Board confirms decision on Niobium Coin 5jl5v
The CVM board confirmed on January 30, 2018, a decision rendered by its technical department (Superintendência de Registro de Valores Mobiliários - SRE) in the sense that the cryptocurrency Niobium Coin should not be characterized as a security. This confirms the understanding that the initial offering of the Niobium Coin (Initial Coin Offering - ICO) is not within the CVM’s scope of jurisdiction and, therefore, does not require registration of the issuer and offering with the local authority.
Central Bank proposes rule for credit fintechs 4t1n72
On August 30, the Central Bank of Brazil (Bacen) published Public Consultation Notice No. 55/2017 to receive comments on a proposed resolution on the establishment and operation of two new types of financial institutions specialized in loan transactions through the medium of an electronic platform: direct lending companies (SCD) and interpersonal lending companies (SEP). The new regulation is expected to be issued by early 2018.
An analysis of Bacen’s and the CVM’s "new" istrative disciplinary process 6r2g
Provisional Measure No. 784, published on June 8 ("MP 784"), brought in profound changes to the istrative disciplinary process in the Brazilian financial system and capital markets, within the sphere of action of the Central Bank of Brazil ("Bacen") and the Brazilian Securities and Exchange Commission ("CVM").
Challenges in regulating bitcoins 333a
The House of Representatives will discuss in a public hearing the Draft Law No. 2,303/2015, which proposes the inclusion of virtual currencies, such as bitcoin, and air mileage programs in the definition of payment arrangements under the supervision of the Central Bank of Brazil (Bacen). To this end, the draft bill provides for amendments to Law No. 12,865/13 and Law No. 9,613/98.
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