BCB Normative Instruction No. 397 of June 29, 2023

Resolution No. 222

BCB NORMATIVE INSTRUCTION NO. 397, OF JUNE 29, 2023

Amends
BCB Normative Instruction No. 103, of April 30, 2021, which disseminates procedures, documents, deadlines, and information necessary for the instruction of authorization requests related to the operation of payment institutions and the provision of payment services by other institutions authorized to operate by the Central Bank of Brazil, and the manner and terms to be observed in the preparation of the cessation of activities plan related to payment services provided by payment institutions.

The Head of the Department of Financial System Organization (Deorf), in the exercise of the authority conferred by arts. 23, item I, letter “a”, and 96, item XII, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, based on art. 4 of BCB Resolution No. 81, of March 25, 2021, and art. 35 of BCB Resolution No. 277, of December 31, 2022,

R E S O L V E S:

Art. 1º BCB Normative Instruction No. 103, of April 30, 2021, shall enter into force with the following changes:

“CHAPTER II

OF THE INSTRUCTION OF PROCESSES

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Section II

Of the Authorization for Operation

Art. 6º .............................................................................................................

II - declaration, signed by the controllers, stating that they meet, individually or jointly, the requirement of economic-financial capacity, compatible with the capital necessary for the structuring and operation of the institution, as well as contingencies arising from market dynamics, in the form of Sisorf model 8.13.30.13, except in the case of a company controlled by an institution authorized by the Central Bank of Brazil;

III - declaration, signed by the controllers and by holders of qualified participation, stating that they meet the requirement of lawful origin of the respective resources integrated or contributed to the share capital, in the form of Sisorf model 8.13.30.14, except for a controller or holder of qualified participation that is an institution authorized by the Central Bank of Brazil;

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VII - declaration, signed by the controllers and by holders of qualified participation, except natural persons, stating that they meet the conditions established by current legislation and regulation, in the form of Sisorf model 8.13.30.11, except for a controller or holder of qualified participation that is an institution authorized by the Central Bank of Brazil;

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XI - authorization, signed by the controllers and by holders of qualified participation, except for a controller or holder of qualified participation that is an institution authorized by the Central Bank of Brazil, in the form of Sisorf model 8.13.30.4 or 8.13.30.11, as applicable:

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c) to the Central Bank of Brazil, to carry out the processing and shared use of personal data belonging to them, including those considered sensitive and covered by confidentiality, in accordance with current legislation;

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Section V

Of the Authorization for Transfer or Alteration of Control

Art. 9º .............................................................................................................

II - declaration, signed by the new controllers, stating that they meet, individually or jointly, the requirement of economic-financial capacity, compatible with the capital necessary for the structuring and operation of the institution, as well as contingencies arising from market dynamics, in the form of Sisorf model 8.13.30.13, except in the case of transfer of control to an institution authorized by the Central Bank of Brazil;

III - declaration, signed by the new controllers and by the new holders of qualified participation, stating that they meet the requirement of lawful origin of the respective resources used in the operation, in the form of Sisorf model 8.13.30.14, except for a new controller or new holder of qualified participation that is an institution authorized by the Central Bank of Brazil;

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V - declaration, signed by the new controllers and by the new holders of qualified participation, except for a new controller or new holder of qualified participation that is an institution authorized by the Central Bank of Brazil, stating that they meet the conditions established by current legislation and regulation, and in the case of natural persons, additionally, the requirement of unblemished reputation, in the form of Sisorf models 8.13.30.4 or 8.13.30.11, as applicable;

VI - authorization, signed by the new controllers and by the new holders of qualified participation, except for a new controller or new holder of qualified participation that is an institution authorized by the Central Bank of Brazil, in the form of Sisorf models 8.13.30.4 or 8.13.30.11, as applicable:

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b) to the Central Bank of Brazil, for access to information about them in any public or private registration and information system, including judicial or administrative processes and police inquiries;

c) to the Central Bank of Brazil, to carry out the processing and shared use of personal data belonging to them, including those considered sensitive and covered by confidentiality, in accordance with current legislation.

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Section VIII

Of the Authorization and Cancellation of Authorization to Elect or Appoint Persons to Administrative Positions

Art. 12. ............................................................................................................

IV - declaration, signed by the company, of compliance with the technical qualification requirement of administrators, compatible with the functions to be exercised during the term, in the form of Sisorf model 8.13.10.1;

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Sole Paragraph. Information regarding the dates of assumption, resignation, and removal of occupants of administrative positions in payment institutions, as well as the reassignment to another administrative position in the same statutory or contractual body, must be communicated to the Central Bank of Brazil, through Unicad, within five days of the event.

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Section XIII

Of the Authorization and Cancellation of Authorization to Operate in the Foreign Exchange Market

Art. 16-A. The request for authorization or cancellation of authorization to operate in the foreign exchange market must be instructed, within a period of up to fifteen days from the respective act or deliberation, with the following documents:

I - request, in the form of Sisorf model 8.13.10.30 or 8.13.10.31;

II - justified statement proving the economic-financial viability of the undertaking, in the case of a request for authorization to operate in the foreign exchange market, in the form of Annex III;

III - declaration, in Sisorf model 8.13.10.31, stating that the exclusive or permitted foreign exchange operations of the institution have been settled or transferred, in the case of a request for cancellation of authorization to operate in the foreign exchange market.

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ANNEX I

EXEMPLARY LIST OF DOCUMENTS AND INFORMATION REFERRED TO IN ART. 20

THESE DOCUMENTS AND INFORMATION SHOULD ONLY BE SENT UPON SPECIFIC REQUEST BY THE CENTRAL BANK OF BRAZIL

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10 - financial statements of the payment institution relating to the last three fiscal years, audited by an independent auditor registered with the Securities and Exchange Commission (Comissão de Valores Mobiliários);

11 - declarations and authorizations that have been waived by regulation.

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ANNEX III

CONTENT OF THE JUSTIFIED STATEMENT

OPERATION IN THE FOREIGN EXCHANGE MARKET

Art. 1º The justified statement to operate in the foreign exchange market must contain:

I - strategic impacts, specifying, if applicable, the new strategic objectives and market opportunities that justify the operation;

II - operational impacts, specifying, if applicable, changes in corporate governance standards and structure, internal controls, risk management, and procedures and controls for the detection and prevention of operations whose characteristics may indicate the existence of crimes defined in Law No. 9,613, of 1998;

III - economic-financial impacts, specifying estimates for critical variables such as average rates and values of operations, service fees, as well as expected results;

IV - impact of the operation on the operational limits established in current regulation;

V - deadline for the start of activities with the operation, after authorization.”

Art. 2º This Normative Instruction enters into force on July 1, 2023.

Daniel Brito de Castro Bichuette

Substitute Head

NOTE

This BCB Normative Instruction (IN BCB) aims to disseminate the procedures, documents, deadlines, and information necessary for payment institutions to instruct the requests for authorization and cancellation of authorization to operate in the foreign exchange market provided for in BCB Resolution No. 277, of December 31, 2022. At this time, adjustments were made to the wording of some articles with a view to clarifying the provisions.

2. Decree No. 10,411, of June 30, 2020, regulates the conduct of regulatory impact analysis (RIA) as a prerequisite for the issuance of normative acts. However, in its article 4, the aforementioned decree establishes the hypotheses for dispensing with the conduct of RIA. This IN BCB falls under the hypothesis provided for in item II, as it does not introduce any additional requirements to those contained in current regulation and is intended to clarify the manner of compliance with obligations defined in a hierarchically superior norm. Thus, based on item II of art. 4 of Decree No. 10,411, of 2020, I understand that the issuance of this IN BCB dispenses with the conduct of RIA.

Daniel Brito de Castro Bichuette

Substitute Head