CMN Resolution No. 4,984 — Certification of Employees of Financial Institutions

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CMN RESOLUTION
NO. 4,984, OF FEBRUARY 17, 2022

Provides for the certification of employees of financial institutions and other institutions 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 National Council, in a session held on February 17, 2022, based on arts. 4, item VIII, of the aforementioned Law, 1 and 10, item III, of Law No. 4,728, of July 14, 1965, 7 and 23, letter "a", of Law No. 6,099, of September 12, 1974, and 1, § 1, of Complementary Law No. 130, of April 17, 2009,

RESOLVES:

Art. 1 This Resolution provides for the certification of employees of financial institutions and other institutions authorized to operate by the Central Bank of Brazil who act in serving the institution's clients in the activities of distribution and mediation of securities, securities, and derivatives.

Sole Paragraph. In the case of the cooperative segment, the provisions of this Resolution apply only to singular credit cooperatives.

Sole Paragraph. (Revoked, as of March 1, 2024, by CMN Resolution No. 5,117, of January 25, 2024.)

§ 1 In the case of the cooperative segment, the provisions of this Resolution apply only to singular credit cooperatives. (Included, as of March 1, 2024, by CMN Resolution No. 5,117, of January 25, 2024.)

§ 2 The provisions of this Resolution do not apply to consortium administrators, payment institutions, securities brokerage firms, securities distribution firms, and currency brokerage firms, which must observe the regulation issued by the Central Bank of Brazil in the exercise of their legal duties. (Included, as of March 1, 2024, by CMN Resolution No. 5,117, of January 25, 2024.)

Art. 2 The institutions mentioned in art. 1 must ensure that their employees, to perform the activities of distribution and mediation of securities, securities, and derivatives, are previously considered qualified in a certification exam organized by an entity of recognized technical capacity.

Art. 3 The institutions mentioned in art. 1 must ensure that the knowledge of their employees considered qualified for the purposes of this Resolution is updated periodically.

Art. 4 The Central Bank of Brazil will adopt, within the scope of its legal duties, the necessary measures for the execution of the provisions of this Resolution.

Art. 5 The following are revoked:

I - Resolution No. 3,158, of December 17, 2003; and

II - arts. 1, 2 and 4 of Resolution No. 3,309, of August 31, 2005. (See Resolution No. 3,321, of September 30, 2005.)

Art. 6 This Resolution enters into force on April 1, 2022.

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