Regulatory Alerts2023-10-26 | Resolução Conjunta 7Joint Resolution No. 7 — Amending Joint Resolution No. 1 of May 4, 2020, Regarding Open Finance Implementation
The Central Bank of Brazil and the National Monetary Council issued Joint Resolution No. 7 to amend the Open Finance framework established by Joint Resolution No. 1 of 2020. The resolution introduces new consent requirements for payment initiation and data sharing, mandating specific, active client agreement for changes to data usage terms and successive payment transactions. It also repeals a previous clause regarding data transmission authentication procedures to streamline the client consent process.
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