Regulatory Alerts2020-06-23 | Circular 4031Circular No. 4031 — Amends Circular No. 3,682 of November 4, 2013, to establish conditions for payment arrangements to integrate into the Brazilian Payments System (SPB) due to risks to the normal functioning of retail payment transactions
The Central Bank of Brazil issued Circular No. 4031 to amend Circular No. 3,682, granting the regulator the authority to mandate the integration of specific payment arrangements into the Brazilian Payments System (SPB) if they pose a risk to the normal functioning of retail payments. This amendment establishes that such arrangements and their sponsors become subject to SPB regulations, including potential operational authorization requirements, thirty days after receiving official notification of the decision. The measure aims to mitigate systemic risks by ensuring that high-risk payment infrastructures adhere to the strict regulatory standards governing the national payments ecosystem.
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