Regulatory Alerts2020-04-16 | Circular 4005Circular No. 4005 — Amends the effective date of Circular No. 3,978, of January 23, 2020, which establishes the policy, procedures, and internal controls to be adopted by institutions authorized by the Central Bank of Brazil to prevent the use of illicit financial systems
The Collegiate Board of the Central Bank of Brazil issued Circular No. 4005 to amend the effective date of Circular No. 3,978, which mandates internal controls and procedures for authorized financial institutions to prevent illicit financial use. The amendment specifically postpones the implementation of Circular No. 3,978 to October 1, 2020. This regulatory change officially takes effect on June 1, 2020, in accordance with Brazil’s international anti-money laundering and counter-terrorism financing obligations.
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