CMN Resolution No. 4,968 — Governs Internal Control Systems of Financial Institutions and Other Entities Authorized by the Central Bank of Brazil

CMN Resolution No. 4,968 establishes mandatory internal control systems for financial institutions and other entities authorized by the Central Bank of Brazil, excluding consortium administrators, payment institutions, securities brokers, currency brokers, and securities distributors. The regulation requires these institutions to implement controls aligned with their risk profiles and business models, focusing on performance, information integrity, and compliance. It mandates specific governance responsibilities for Boards of Directors and Executive Management, including ethical standards, resource allocation, and independent monitoring. Additionally, it imposes annual reporting obligations to the Board and external/internal auditors, with records retained for five years.

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RESOLUTION

CMN RESOLUTION NO. 4,968, OF NOVEMBER 25, 2021

Governs the internal control systems of financial institutions and other entities authorized to operate by the Central Bank of Brazil.

The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes public that the Monetary Policy Council, in a session held on November 25, 2021, based on Arts. 4, item VIII, of said Law, 9 and 10 of Law No. 4,728, of July 14, 1965, 20, § 1, of Law No. 4,864, of November 29, 1965, 1 of Decree-Law No. 70, of November 21, 1966, 7 and 23, letter “a”, of Law No. 6,099, of September 12, 1974, 1, item II, of Law No. 10,194, of February 14, 2001, 1, § 2, of Provisional Measure No. 2,192-70, of August 24, 2001, and 1, § 1, of Complementary Law No. 130, of April 17, 2009,

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Show all related documents (14)

Supersedes: Resolution CMN No. 2554 — Provisions on the Implementation and Operation of an Internal Control System1998Resolution No. 3056 dated 2002-12-19not in RegAlertResolution No. 4390 dated 2014-12-18not in RegAlert
Amended by: CMN Resolution No. 5,178 of September 26, 20242024 CMN Resolution No. 5117 — Amending Resolutions 4.595, 4.860, 4.879, 4.893, 4.949, 4.968, and 4.9842024
Issued under: Complementary Law No. 130 dated 2009-04-17not in RegAlertDecree Law No. 70 dated 1966-11-21not in RegAlertLaw No. 10194 dated 2001-02-14not in RegAlertLaw No. 4595 dated 1964-12-31not in RegAlertLaw No. 4728 dated 1965-07-14not in RegAlertLaw No. 4864 dated 1965-11-29not in RegAlert
+2 more
Law No. 6099 dated 1974-09-12not in RegAlertProvisional Measure No. 2192-70 dated 2001-08-24not in RegAlert
Referred to by: Instruction Normative BCB No. 686 — Discloses the Models for the Internal Capital Adequacy Assessment Process (ICAAP) and Simplified Internal Capital Adequacy Assessment Process (ICAAPSimp) Reports2025

Timeline

Amended 2 times · last 2024-09-26

2024-09-26BCBCMN Resolution No. 5,178 of September 26, 2024amends
2024-01-25BCBCMN Resolution No. 5117 — Amending Resolutions 4.595, 4.860, 4.879, 4.893, 4.949, 4.968, and 4.984amends

This document supersedes: Resolution CMN No. 2554 — Provisions on the Implementation and Operation of an Internal Control System

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works