BCB Resolution No. 23 — Provisions on the provision by institutions authorized by the Central Bank of Brazil of information on their corporate structure

Resolution No. 23

BCB RESOLUTION NO.
23, OF OCTOBER 20, 2020

Provisions on the provision, by institutions authorized to operate by the Central Bank of Brazil, of information on their corporate structure.

The Collegiate Board of the Central Bank of Brazil, in a session held on October 20, 2020, based on arts. 10, item IX, and 37 of Law No. 4,595, of December 31, 1964, 6th of Law No. 11,795, of October 8, 2008, and 9th, items II and VIII, of Law No. 12,865, of October 9, 2013,

R E S O L V E S:

Art. 1. This Resolution provides for the reporting of information on the corporate structure of institutions authorized to operate by the Central Bank of Brazil, excluding credit cooperatives.

Art. 2. The institutions mentioned in art. 1 must inform, electronically via the Capital Composition Map, the direct or indirect participations in the share capital held by:

I - controller or member of the controlling group;

II - resident or domiciled participant abroad;

III - institution authorized to operate by the Central Bank of Brazil; and

IV - participant with 5% (five percent) or more of the total capital of the institution.

§ 1. The participations referred to in the caput must be reported within fifteen days from the date any modification occurs.

§ 2. Institutions constituted in the form of an open capital stock company may report in a consolidated manner the total participations held by residents or domiciled abroad who do not fall under items I, III, or IV of the caput.

§ 3. Reporting regarding the corporate structure of a legal entity domiciled abroad that does not fall under item I of the caput is waived.

Art. 3. Participations in the share capital of the institutions mentioned in art. 1 held by legal entities must be broken down until the controller or members of the controlling group are evident, when these are natural persons or public law legal entities.

§ 1. The provisions of this article apply to the controller or members of the controlling group who are natural persons resident or domiciled abroad.

§ 2. The breakdown referred to in this article may be limited to private law legal entities that exercise corporate control of the institutions mentioned in art. 1, when it is not possible to identify their controller or members of their controlling group.

Art. 4. The Central Bank of Brazil will publish the procedures for providing the Capital Composition Map.

Art. 5. Circular No. 3,941, of April 23, 2019, is hereby revoked.

Art. 6. This Resolution enters into force on November 3, 2020.

Otávio Ribeiro Damaso
Director of Regulation