New CVM Standard for regulating Fiagro
As of the publication of the new CVM Resolution No. 214, of September 30, 2024, by the Securities and Exchange Commission – CVM, investment funds for agribusiness production chains – Fiagro, will become part of the regulatory framework for investment funds in the country.
Among the main changes brought about by the rule are (i) subsidiary application of other CVM normative annexes; (ii) definition of the strategic policy and management of the invested company; (iii) possibility of trading carbon credits from agribusiness; (iv) investment by the Fiagro classes in “any real rights over rural properties”, among others.
CVM Resolution 214 comes into effect on March 3, 2025. Existing Fiagros will have until June 30, 2025 to adapt to the new resolution.
BCB changes to the Pix Regulation and operation of the Pix arrangement with the new BCB Resolution 402/2024
From the publication of (i) Resolution of the Central Bank of Brazil – BCB No. 402, on July 22, 2024; (ii) Resolution BCB No. 403; on July 23, 2024; (iii) Normative Instruction BCB No. 491; and (iv) on August 2, 2024, of Resolution BCB No. 406 and Resolution BCB […]
Central Bank of Brazil (BCB) raises limit for foreign exchange transactions
The Central Bank of Brazil (BCB) has increased the limits for foreign exchange transactions with immediate settlement by financial institutions, as well as brokerage firms and distributors of securities and securities, such as foreign exchange brokers and other non-banking institutions. In order to increase the limits for institutions to carry out foreign exchange transactions […]
Mazzucco&Mello advises client on acquisition of financial institution
We advised a foreign investor on the acquisition of a bank specialized in foreign exchange transactions and a fintech Mazzucco&Mello advised a foreign client on the acquisition of a bank specialized in foreign exchange transactions (purchase and sale of currencies) and a fintech from the same group specialized in e-commerce solutions. The transaction involved the acquisition of all of the shares […]
New CMN Resolution 5146/2024 simplifies the methodology of financial instrument classification criteria
Published on June 26, 2024 by the National Monetary Council – CMN, CMN Resolution No. 5,146 proposes adjustments to CMN Resolution No. 4,966, of November 25, 2021, which establishes the criteria and concepts for classification, recognition, measurement, provisioning and write-off of financial instruments, as well as for the designation and recognition […]
Financial
Legal Framework for Loan Guarantees via Law 14,711/23
By Moema Giovanella The entry into force on October 31, 2023 of Law 14,711/23 establishes the Legal Framework for Loan Guarantees, improving the rules for treating credit and guarantees and extrajudicial measures for credit recovery in Brazil. The topic brings great expectations from the market due to the advances it represents to the loan recovery system […]
New BCB Resolution No. 339 updates the rules regarding written duplicates
By Moema Giovanella The National Monetary Council – CMN, the Central Bank of Brazil – BCB and the Securities and Exchange Commission – CVM have been building an important regulatory agenda in recent years to increase competitiveness and security in the negotiation of commercial receivables in the country. Just like the changes to the rules for receivables […]
BACEN AND CMN publish new rules on data sharing BACEN AND CMN
By: Moema Giovanella Published on May 23, 2023 by the Central Bank of Brazil – BACEN and the National Monetary Council – CMN, Joint Resolution 6/23 establishes new procedures for sharing data related to evidence of fraud by financial institutions, payment institutions and other institutions authorized by Bacen to operate among themselves. The […]
Mazzucco&Mello advises pharmaceutical company on tax transaction and obtains 67% reduction in transacted debts
Mazzucco&Mello Advogados advised on the tax settlement of social security debts of a major pharmaceutical company. The debt, whose updated value corresponded to more than R$$ 3 million, was reduced by R$67% (sixty-seven percent) with the possibility of payment in 48 installments. As a result, the company was able to regularize its situation with the Tax Authorities […]