Circular No. 3583 — Amends Circular No. 3,461 of July 24, 2009, Consolidating Rules on Procedures for Preventing and Combating Activities Related to Crimes Under Law No. 9,613 of March 3, 1998

The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on March 8, 2012, based on the provisions of Articles 10, item IX, and 11, item VII, of Law No. 4,595 of December 31, 1964, Articles 10 and 11 of Law No. 9,613 of March 3, 1998, and considering the provisions of the United Nations Convention against Transnational Organized Crime, promulgated by Decree No. 5,015 of March 12, 2004, the Inter-American Convention against Terrorism, promulgated by Decree No. 5,639 of December 26, 2005, the International Convention for the Suppression of the Financing of Terrorism, promulgated by Decree No. 5,640 of December 26, 2005, and the United Nations Convention against Corruption, promulgated by Decree No. 5,687 of January 31, 2006,

R E S O L V E:

Art. 1º Articles 1 and 5 of Circular No. 3,461 of July 24, 2009, shall enter into force with the following wording:

"Art. 1º ......

......

§ 5º The internal control policies and procedures referred to in the caput must also be implemented by the branches and subsidiaries located abroad of financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

§ 6º The director responsible for implementing and complying with the measures established in this Circular, in accordance with Article 18, must inform the Central Bank of Brazil in writing about the existence of legislation or regulation that prevents or limits the application of the provisions of § 5º to its branches and subsidiaries located abroad." (NR)

"Art. 5º The institutions referred to in Article 1 shall only initiate any business relationship or continue an existing relationship with the client if the measures established in Articles 2, 3, and 4 are observed, as applicable." (NR)

Art. 2º This Circular enters into force on the date of its publication.

Luiz Awazu Pereira da Silva Anthero de Moraes Meirelles Director of Regulation of the System Director of Supervision Financial