Regulatory Alerts2026-06-23 | Resolução BCB 576BCB Resolution No. 576 on Administrator Succession Policy for Financial Institutions
The Central Bank of Brazil issued Resolution No. 576, mandating that consortium administrators, securities brokers, currency brokers, virtual asset service providers, and payment institutions implement and maintain a formal administrator succession policy. This policy must be tailored to the institution's risk profile and business model, covering recruitment, evaluation, and retention criteria for senior management roles. The Board of Directors is responsible for approving and supervising the policy, which must be reviewed at least every five years and documented for regulatory inspection.
The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on June 23, 2026, based on Articles 9-A of Law No. 4,728 of July 14, 1965; Articles 6 and 7, main text, item III, of Law No. 11,795 of October 8, 2008; Article 9, main text, item II, and Article 15 of Law No. 12,865 of October 9, 2013; Articles 4, 6, and 7, main text, item II, of Law No. 14,478 of December 21, 2022; and Articles 1 and 2 of Decree No. 11,563 of June 13, 2023,
RESOLVES:
Article 1. Consortium administrators, securities brokerage firms, securities distribution firms, currency brokerage firms, virtual asset service providers, and payment institutions must implement and maintain an administrator succession policy applicable to the senior management positions of the institution.
Sole Paragraph. The provisions of this Resolution do not apply to the institutions mentioned in the main text under extrajudicial liquidation.
Article 2. The administrator succession policy must be compatible with the nature, size, complexity, structure, risk profile, and business model of the institution, ensuring that those occupying senior management positions have the necessary competencies to perform their functions.
Sole Paragraph. The institution must expressly indicate in its administrator succession policy the positions to which this policy applies.
Article 3. The administrator succession policy must cover processes for recruitment, promotion, election, and retention of administrators, formalized based on rules that govern the identification, evaluation, training, and selection of candidates for senior management positions, considering, at a minimum, the following aspects:
I - conditions for exercising the position required by current legislation and regulations;
II - technical capacity;
III - managerial capacity;
IV - interpersonal skills;
V - knowledge of legislation and regulations regarding liability of any nature arising from their performance; and
VI - experience.
Article 4. The Board of Directors must approve, supervise, and control the processes related to the planning, operation, maintenance, and revision of the administrator succession policy.
Sole Paragraph. In the absence of a Board of Directors, the duties mentioned in the main text must be the responsibility of the institution's executive board.
Article 5. The administrator succession policy must be subject to review at least every five years or whenever relevant events occur that impact the governance structure, business model, or risk profile of the institution.
Article 6. The institutions mentioned in Article 1 must keep documentation related to the administrator succession policy available to the Central Bank of Brazil throughout its validity and, in the event of alteration or replacement, for a minimum period of five years counted from the end of the validity of the previous version.
Article 7. This Resolution enters into force on January 1, 2027.
GILNEU FRANCISCO ASTOLFI VIVAN Director of Regulation