CMN Resolution No. 4,859 on Reporting Information Regarding Control Group Members and Administrators and Establishing a Whistleblower Channel

Resolution No. 4,859

CMN RESOLUTION
NO. 4,859, OF OCTOBER 23, 2020

Provides for the submission of information regarding members of the control group and administrators of financial institutions and other institutions authorized to operate by the Central Bank of Brazil, and for the availability of a channel for communication of indications of illegality related to the institution's activities.

The Central Bank of Brazil, in accordance with art. 9 of Law No. 4,595, of December 31, 1964,

makes public that the National Monetary Council, in a session held on October 22, 2020, based on art. 4, item VIII, of the aforementioned Law,

RESOLVES:

Art. 1 Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must communicate to this autarchy any information that may affect the reputation of:

I - controlling shareholders and holders of qualified participation; and

II - members of statutory and contractual bodies.

Sole Paragraph. The communication referred to in the caput must:

I - consider information about the following situations and occurrences:

a) criminal proceedings or police inquiries to which the persons referred to in items I or II of the caput are responding, or any company of which they were or had been, at the time of the facts, controlling shareholders or administrators;

b) judicial or administrative proceedings that have a relationship with the National Financial System; and

c) other situations, occurrences, or analogous circumstances; and

II - be carried out within ten business days, counted from the knowledge or access to the information.

Art. 2 The institutions mentioned in art. 1 must make available a communication channel through which employees, collaborators, clients, users, partners, or suppliers can communicate, without the need to identify themselves, situations with indications of illegality of any nature, related to the institution's activities.

Sole Paragraph. The procedures for using the communication channel referred to in the caput must be contained in a specific regulation and disclosed on the institution's website.

Art. 3 The institutions mentioned in art. 1 must designate an organizational component responsible for receiving and forwarding the communication referred to in art. 2 to the competent area for handling the situation.

§ 1 It is permitted to designate an already existing organizational component to perform the activities mentioned in the caput, provided that its performance is guided by confidentiality, independence, impartiality, and fairness.

§ 2 The organizational component referred to in the caput must prepare a semi-annual report, referenced to the base dates of June 30 and December 31, containing, at minimum:

I - the number of communications received;

II - the nature of the communications;

III - the competent areas for handling the situation;

IV - the average treatment time; and

V - the measures adopted by the institution.

§ 3 The report referred to in § 2 must be approved by the institution's board of directors or, in its absence, by the executive management, and kept available to the Central Bank of Brazil for a minimum period of five years.

Art. 4 Resolution No. 4,567, of April 27, 2017, is hereby revoked.

Art. 5 This Resolution enters into force on December 1, 2020.

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil