Regulatory Alerts2024-07-04 | Resolução Conjunta 10Joint Resolution No. 10 — Amends Joint Resolution No. 1 of May 4, 2020, Regarding the Implementation of Open Finance
The Central Bank of Brazil and the National Monetary Council issued Joint Resolution No. 10 to amend the Open Finance framework, specifically defining payment initiation services and establishing mandatory participation timelines for large institutions and Pix participants. The resolution introduces specific consent requirements for recurring payment transactions, allowing single consent validity while mandating strict security controls and data confidentiality. Implementation is staggered, with key provisions regarding mandatory participation taking effect in January and July 2025, while other amendments become effective immediately upon publication.
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