Regulatory Alerts2020-07-24 | Carta Circular 4074Circular Letter No. 4,074 — Establishes Procedures for Document Submission, Responses to Requirements, Appeals, and Communications in Authorization Processes
The Central Bank of Brazil's Department of Organization of the Financial System (Deorf) issued Circular Letter No. 4,074 to establish mandatory procedures for the submission of documents, responses to requirements, and appeals in authorization processes. The regulation mandates that financial institutions use the Digital Protocol system for filing, specifying exact formatting for the 'Description' field and requiring self-registration in the Registrato System for access. It further details the formalization of requirements via digitally signed official letters and outlines consequences for incomplete or non-compliant submissions, including potential archiving of processes.
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