BCB Resolution No. 205 — Amends Resolution BCB No. 81 of March 25, 2021, regarding authorization processes for payment institutions and payment services

BCB RESOLUTION NO. 205, OF MARCH 22, 2022

Amends Resolution BCB No. 81, of March 25, 2021, which regulates the authorization processes 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.

The Collegiate Board of the Central Bank of Brazil, in a session held on March 22, 2022, based on the provisions of Arts. 6, §§ 1 and 4, and 9 of Law No. 12,865, of October 9, 2013, and considering the provisions of Resolution No. 4,282, of November 4, 2013,

RESOLVES:

Art. 1. Resolution BCB No. 81, of March 25, 2021, shall enter into force with the following alterations:

“Art. 6. ............................................................................................................

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III - holder of qualified participation: natural or legal person, not controlling the payment institution, or investment fund that holds:

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§ 5. Investment funds are not admitted as controllers or members of the control group of a payment institution.

§ 6. For the purposes of this article, any attribution of plural voting rights to one or more classes of ordinary shares shall be considered.” (NR)

“Art. 14-A. In the case of qualified participation held by an investment fund, the provisions applicable to the natural or legal person holding the qualified participation set forth in this Resolution may be extended to the investors of the investment fund who effectively hold powers to conduct its actions, as established by the Central Bank of Brazil.” (NR)

“Art. 23. ..........................................................................................................

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§ 1. In the event of the situation described in item II of the main text, the Central Bank of Brazil may, within sixty days of the communication, require proof of compliance with the requirements set forth in items II and VI of Art. 2 and the conditions referred to in Art. 11.

§ 2. After examining the aspects of the operation referred to in item II of the main text and finding any irregularity, the Central Bank of Brazil may determine that the operation be regularized, through its unwinding or the alienation of the qualified participation.” (NR)

Art. 2. Items I and III of Art. 23 of Resolution BCB No. 81, of 2021, are repealed.

Art. 3. This Resolution enters into force on April 1, 2022.

Otávio Ribeiro Damaso
Director of Regulation