Law No. 7,492 of June 16, 1986 — Crimes Against the National Financial System

Presidency of the Republic

Civil House

Undersecretary for Legal Affairs

LAW NO. 7,492, OF JUNE 16, 1986.

Message of veto

Defines crimes against the national financial system, and gives other provisions.

THE PRESIDENT OF THE REPUBLIC, make known that the National Congress decrees and I sanction the following law:

Art. 1st A financial institution, for the purposes of this law, is considered a legal entity of public or private law, which has as its main or ancillary activity, cumulatively or not, the capture, intermediation or application of financial resources (Vetoed) of third parties, in national or foreign currency, or the custody, issuance, distribution, negotiation, intermediation or administration of securities.

Sole paragraph. Equated to a financial institution:

I - the legal entity that captures or administers insurance, foreign exchange, consortium, capitalization or any type of savings, or third-party resources;

I-A - the legal entity that offers services related to operations with virtual assets, including intermediation, negotiation or custody;

(Included by Law No. 14.478, of 2022) Effectiveness

II - the natural person who exercises any of the activities referred to in this article, even if occasionally.

OF THE CRIMES AGAINST THE NATIONAL FINANCIAL SYSTEM

Art. 2nd Print, reproduce or, in any way, manufacture or put into circulation, without written authorization from the issuing company, certificate, caution or other document representative of a title or security:

Penalty - Imprisonment, from 2 (two) to 8 (eight) years, and fine.

Sole paragraph. Incurs the same penalty whoever prints, manufactures, disseminates, distributes or causes to be distributed prospectus or promotional material relating to the papers referred to in this article.

Art. 3rd Disseminate false or prejudicially incomplete information about a financial institution:

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Art. 4th Fraudulently manage a financial institution:

Penalty - Imprisonment, from 3 (three) to 12 (twelve) years, and fine.

Sole paragraph. If the management is reckless:

Penalty - Imprisonment, from 2 (two) to 8 (eight) years, and fine.

Art. 5th Appropriating, any of the persons mentioned in art. 25 of this law, money, title, value or any other movable property of which they have possession, or diverting it for their own benefit or that of others:

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Sole paragraph. Any of the persons mentioned in art. 25 of this law incurs the same penalty who negotiates rights, titles or any other movable or immovable property of which they have possession, without authorization from whom it is due.

Art. 6th Induce or keep in error, partner, investor or competent public department, regarding an operation or financial situation, withholding information from them or providing it falsely:

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Art. 7th Issue, offer or negotiate, in any way, titles or securities:

I - false or counterfeited;

II - without prior registration of issuance with the competent authority, under conditions divergent from those contained in the registration or irregularly registered;

III - without sufficient backing or guarantee, in accordance with the legislation;

IV - without prior authorization from the competent authority, when legally required:

Penalty - Imprisonment, from 2 (two) to 8 (eight) years, and fine.

Art. 8th Demand, in disagreement with the legislation (Vetoed), interest, commission or any type of remuneration on a credit or insurance operation, administration of a mutual or fiscal fund or consortium, brokerage service or distribution of titles or securities:

Penalty - Imprisonment, from 1 (one) to 4 (four) years, and fine.

Art. 9th Defraud the supervision or the investor, inserting or causing to be inserted, in a document proving investment in titles or securities, a false declaration or different from what should be contained therein:

Penalty - Imprisonment, from 1 (one) to 5 (five) years, and fine.

Art. 10. Insert false element or omit element required by legislation, in accounting statements of a financial institution, insurance company or institution part of the distribution system for titles or securities:

Penalty - Imprisonment, from 1 (one) to 5 (five) years, and fine.

Art. 11. Maintain or move resources or value parallel to the accounting required by legislation:

Penalty - Imprisonment, from 1 (one) to 5 (five) years, and fine.

Art. 12. Leave, the former administrator of a financial institution, to present, to the intervener, liquidator, or trustee, within the time limits and conditions established in law the information, declarations or documents of their responsibility:

Penalty - Imprisonment, from 1 (one) to 4 (four) years, and fine.

Art. 13. Divert (Vetoed) asset reached by the unavailability resulting from legal intervention, extrajudicial liquidation or bankruptcy of a financial institution.

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Sole paragraph. The intervener, liquidator or trustee incurs the same penalty who appropriates an asset covered by the caput of this article, or diverts it for their own benefit or that of others.

Art. 14. Present, in extrajudicial liquidation, or in bankruptcy of a financial institution, a false credit declaration or complaint, or attach to them a false or simulated title:

Penalty - Imprisonment, from 2 (two) to 8 (eight) years, and fine.

Sole paragraph. The former administrator or bankrupt incurs the same penalty who recognizes, as true, a credit that is not so.

Art. 15. Manifest falsely the intervener, the liquidator or the trustee, (Vetoed) regarding a subject related to intervention, extrajudicial liquidation or bankruptcy of a financial institution:

Penalty - Imprisonment, from 2 (two) to 8 (eight) years, and fine.

Art. 16. Make operate, without due authorization, or with authorization obtained through a false declaration (Vetoed), financial institution, including distribution of securities or foreign exchange:

Penalty - Imprisonment, from 1 (one) to 4 (four) years, and fine.

Art. 17. Take or receive, any of the persons mentioned in art. 25 of this law, directly or indirectly, loan or advance, or grant it to a controller, to an administrator, to a member of the statutory council, to their respective spouses, to ascendants or descendants, to relatives in the collateral line up to the 2nd degree, consanguineous or affine, or to a society whose control is exercised by it, directly or indirectly, or by any of these persons:

Art. 17. Take or receive credit, in the capacity of any of the persons mentioned in art. 25, or grant credit operations prohibited, observing the provisions of art. 34 of Law No. 4.595, of December 31, 1964: (Redacted by Law No. 13.506, of 2017)

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Sole paragraph. Incurs the same penalty whoever:

I - in their own name, as controller or in the capacity of administrator of the company, grant or receive advance of fees, remuneration, salary or any other payment, under the conditions referred to in this article;

II - in a disguised manner, promote the distribution or receive profits from a financial institution.

Art. 18. Violate confidentiality of an operation or service provided by a financial institution or part of the distribution system for securities titles of which they have knowledge, by reason of office:

Penalty - Imprisonment, from 1 (one) to 4 (four) years, and fine.

Art. 19. Obtain, through fraud, financing in a financial institution:

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Sole paragraph. The penalty is increased by 1/3 (one third) if the crime is committed to the detriment of an official financial institution or by one accredited by it to pass on financing.

Art. 20. Apply, for a purpose different from that provided for in law or contract, resources resulting from financing granted by an official financial institution or by an institution accredited to pass it on:

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Art. 21. Attribute to themselves, or attribute to a third party, false identity, to carry out a foreign exchange operation:

Penalty - Detention, from 1 (one) to 4 (four) years, and fine.

Sole paragraph. Incurs the same penalty whoever, for the same purpose, withholds information that they should provide or provides false information.

Art. 22. Carry out an unauthorized foreign exchange operation, with the aim of promoting capital flight from the Country:

Penalty - Imprisonment, from 2 (two) to 6 (six) years, and fine.

Sole paragraph. Incurs the same penalty whoever, under any title, promotes, without legal authorization, the exit of currency or foreign exchange to the outside, or maintains in it undeclared deposits with the competent federal department.

Art. 23. Omit, delay or practice, the public employee, against express provision of law, act of office necessary for the regular functioning of the national financial system, as well as the preservation of the interests and values of the economic-financial order:

Penalty - Imprisonment, from 1 (one) to 4 (four) years, and fine.

Art. 24. (VETOED).

OF THE APPLICATION AND CRIMINAL PROCEDURE

Art. 25. Are criminally liable, under the terms of this law, the controller and the administrators of a financial institution, thus considered the directors, managers (Vetoed).

§ 1st Equated to the administrators of a financial institution (Vetoed) are the intervener, the liquidator or the trustee.

§ 2nd In the crimes provided for in this Law, committed in a gang or joint authorship, the co-author or participant who, through spontaneous confession, reveals to the police or judicial authority the entire criminal plot will have their penalty reduced by one to two thirds. (Included by Law No. 9.080, of July 19, 1995)

Art. 26. The penal action, in the crimes provided for in this law, will be promoted by the Federal Public Ministry, before the Federal Justice.

Sole paragraph. Without prejudice to the provisions of art. 268 of the Code of Criminal Procedure, approved by Decree-law No. 3.689, of October 3, 1941, the assistance of the Securities and Exchange Commission - CVM will be admitted, when the crime was committed within the scope of activity subject to the discipline and supervision of this Autarchy, and of the Central Bank of Brazil when, outside that hypothesis, it was committed in the orbit of activity subject to its discipline and supervision.

Art. 27. When the indictment is not filed within the legal deadline, the offended party may represent to the Attorney General of the Republic, so that he offers it, designates another body of the Public Ministry to offer it or determines the archiving of the information pieces received.

Art. 28. When, in the exercise of its legal duties, the Central Bank of Brazil or the Securities and Exchange Commission - CVM, verify the occurrence of a crime provided for in this law, it must inform the Federal Public Ministry, sending it the documents necessary to prove the fact.

Sole paragraph. The conduct referred to in this article will be observed by the intervener, liquidator or trustee who, during the course of intervention, extrajudicial liquidation or bankruptcy, verify the occurrence of a crime dealt with in this law.

Art. 29. The body of the Federal Public Ministry, whenever it deems necessary, may request, from any authority, information, document or diligence, relating to the proof of the crimes provided for in this law.

Sole paragraph The confidentiality of financial services and operations cannot be invoked as an obstacle to the attendance of the request provided for in the caput of this article.

Art. 30. Without prejudice to the provisions of art. 312 of the Code of Criminal Procedure, approved by Decree-law No. 3.689, of October 3, 1941, the preventive arrest of the accused of the practice of a crime provided for in this law may be decreed by reason of the magnitude of the damage caused (Vetoed).

Art. 31. In the crimes provided for in this law and punished with imprisonment, the defendant may not post bail, nor appeal before being taken into custody, even if primary and of good background, if a situation that authorizes preventive arrest is configured.

Art. 32. (VETOED).

§ 1st (VETOED).

§ 2nd (VETOED).

§ 3rd (VETOED).

Art. 33. In fixing the fine penalty relative to the crimes provided for in this law, the limit referred to in § 1st of art. 49 of the Penal Code, approved by Decree-law No. 2.848, of December 7, 1940, may be extended up to ten times, if the situation envisaged therein is verified.

Art. 34. This law enters into force on the date of its publication.

Art. 35. The provisions to the contrary are repealed.

Brasília, June 16, 1986; 165th of Independence 98th of the Republic.

JOSÉ SARNEY

Paulo Brossard

This text does not replace the published in the DOU of 18.6.1986