RegAlert2024-05-23 | Resolução CMN 5139Added
CMN Resolution No. 5139 — Amends CMN Resolution No. 5061 of February 16, 2023, regarding the organization and functioning of service confederations
This resolution amends the regulations governing service confederations by authorizing them to perform specific functions for single credit cooperatives within their system if statutes permit, and allowing them to establish systemic policies for member acquisition and capital increases subject to expansion, economic interest preservation, and financial inclusion guidelines. It mandates that service confederations implement a board renewal policy with a maximum twelve-year tenure limit for members unless such a policy is adopted earlier, and permits the hiring of independent non-affiliated board members provided the majority remain affiliated. The changes also restructure governance requirements, prohibit board members from holding simultaneous executive roles or managing other authorized institutions outside the cooperative system, and set an effective date of July 1, 2024.
BCB published 15 documents in the last 30 days — get each new one by email the day it lands.
CMN RESOLUTION NO. 5,139, OF MAY 23, 2024
Amends CMN Resolution No. 5,061, of February 16, 2023, which provides for the organization and functioning of service confederations.
The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on May 23, 2024, based on Articles 1, paragraph 1, and 12 of Complementary Law No. 130, of April 17, 2009,
RESOLVES:
Article 1. Resolution CMN No. 5,061, of February 16, 2023, shall be amended as follows:
Read the rest free, and get an email when BCB publishes again
Lineage: In force
Timeline
This document amends: CMN Resolution No. 5,061 — Organization and Operation of Service Confederations
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
More like this from BCB
BCB published 15 documents in the last 30 days. We email you each new one the day it's published.