CMN Resolution No. 5009 — Establishes conditions for the establishment, organization, and operation of foreign exchange brokerage companies

Resolution No. 5,009

RESOLUTION
CMN No. 5,009, OF MARCH 24, 2022

Regulatory document revoked, as of 2/2/2026, by BCB Resolution No. 542, of 12/18/2025.

Establishes
conditions for the establishment, organization, and operation of foreign
exchange brokerage companies.

The
Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes it public that the National Monetary Council, in a session held on March 24, 2022, based on Article 4, item VIII, of the aforementioned Law and on
Article 9 of Law No. 4,728, of July 14, 1965,

R E S O L V E D :

CHAPTER I

PRELIMINARY PROVISIONS

Art.
1º This Resolution establishes the general norms to be observed in matters of capital, organization, discipline, supervision, and activities of foreign exchange brokerage companies.

CHAPTER II

CHARACTERISTICS, ESTABLISHMENT, AND OPERATION

Art.
2º The foreign exchange brokerage company, constituted in accordance with this Resolution, has as its exclusive corporate object the intermediation in foreign exchange operations and the practice of operations in the foreign exchange market in accordance with and within the limits of the regulation in force.

Art.
3º The operation of a foreign exchange brokerage company depends on prior authorization from the Central Bank of Brazil.

Sole paragraph. The foreign exchange brokerage company must be constituted in the form of a corporation or a limited liability company, and its corporate name must obligatorily include the expression "foreign exchange brokerage company".

Art.
4º It is prohibited for administrators of foreign exchange brokerage companies to participate, concurrently, in more than one authorized foreign exchange brokerage company.

CHAPTER III

OPERATIONAL NORMS

Art.
5º Foreign exchange brokerage companies shall observe, in the intermediation of foreign exchange operations, the conditions and limits established in the regulation in force.

Art. 6º Foreign exchange brokerage companies must permanently observe the value of R$350,000.00 (three hundred and fifty thousand reais) of minimum limits for paid-in capital and net worth.

§ 1º In the case of an institution that has its head office or parent company and, at least, 90% (ninety percent) of its branches operating outside the States of Rio de Janeiro and/or São Paulo, the minimum limits for paid-in capital and net worth required under this article shall be reduced by 30% (thirty percent).

§ 2º For the purpose of calculating the 90% (ninety percent) limit set forth in § 1º, only the branches for which an additional limit is required, in accordance with Article 7, shall be considered.

Art.
6º (Revoked by Joint Resolution No.
14, of 11/3/2025.)

Art. 7º Subject to the minimum limits of paid-in capital and net worth required under Article 6, foreign exchange brokerage companies may maintain, in the Country, up to ten branches.

§ 1º The head office or parent company must be considered in the calculation of branches for capitalization purposes.

§ 2º The installation of branches beyond the number provided in the main text is permitted, provided that, to the amount of the respective paid-in capital and net worth values, 2% (two percent) is added for the States of Rio de Janeiro and/or São Paulo and 1% (one percent) for the other States, per unit.

§ 3º In the case of installing branches in a number exceeding that mentioned in the main text, the capital calculation shall be performed considering, prioritarily, for the purpose of computing the ten branches exempt from capitalization, the branches for which the 1% (one percent) increase is required.

Art.
7º (Revoked by Joint Resolution No.
14, of 11/3/2025.)

Art. 8º For the purpose of verifying compliance with the minimum limits established in this Resolution, the values corresponding to the minimum paid-in capital and net worth fixed for the institutions of the species in which they participate, adjusted proportionally to the percentage of each participation, shall be deducted from the net worth, increased by the balance of the creditor income accounts and decreased by the balance of the debtor income accounts, of the foreign exchange brokerage companies.

Art.
8º (Revoked by Joint Resolution No.
14, of 11/3/2025.)

Art.
9º It is prohibited for foreign exchange brokerage companies:

I

• to carry out operations that characterize, in any form, the granting of
  financing, loans, or advances to their clients, including through the assignment of rights;

II

• to acquire assets not intended for their own use, except those received in settlement of
  difficult or doubtful debts, in accordance with the regulation in force; or

III

• to obtain loans or financing from financial institutions, except those linked to
  the acquisition of assets for own use.

Art.
10. Foreign exchange brokerage companies shall provide assistance to the parties to
the operations in which they intervene, until the final settlement of the respective contracts.

Chapter IV

FINAL PROVISIONS

Art.
11. The following are revoked:

I

• Resolution No. 1,770, of November 28, 1990; and

II

• item VII of Article 1 of the Regulation annexed to Resolution No. 2,099, of August 17,

Art.
12. This Resolution enters into force on May 2, 2022.

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