Resolution CMN No. 3477 — Establishes the Organizational Component of an Ombudsman for Financial Institutions and Other Entities Authorized by the Central Bank of Brazil

RESOLUTION NO. 3477

Dispenses on the establishment of an organizational component of an ombudsman by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY NATIONAL COUNCIL, in a session held on July 26, 2007, based on Article 4, item VIII, of the aforementioned law,

RESOLVES:

Art. 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must establish an organizational component of an ombudsman, with the responsibility of ensuring strict compliance with legal and regulatory norms regarding consumer rights and acting as a communication channel between these institutions and their clients and users of their products and services, including in the mediation of conflicts.

§ 1. The structure of the organizational component must be compatible with the nature and complexity of the products, services, activities, processes, and systems of each institution.

§ 2. Institutions that are part of a financial conglomerate may establish a single organizational component that will act on behalf of all members of the group.

§ 3. The organizational component must be segregated from the unit executing the internal audit activity, as provided for in Article 2 of Resolution No. 2,554, of September 24, 1998, with the wording given by Resolution No. 3,056, of December 19, 2002.

§ 4. The institutions referred to in the caput must:

I - provide wide publicity regarding the existence of the ombudsman, as well as complete information about its purpose and method of use;

II - guarantee access for clients and users of products and services to the ombudsman's service, through agile and effective channels, respecting the accessibility requirements for people with disabilities or reduced mobility, in accordance with current legislation;

III - provide a free direct dial 0800 (DDG 0800) service, when they have as clients individuals or legal entities classified as micro-enterprises in accordance with specific legislation.

§ 5. The publicity referred to in § 4, item I, must be provided also through the communication channels used to disseminate the institution's products and services.

§ 6. The ombudsmen of investment banks, microentrepreneur credit societies, development banks, development agencies, and mortgage companies that are not part of a financial conglomerate may enter into agreements with the professional association to which the aforementioned institutions are affiliated, for the use of service and advisory support.

§ 7. The ombudsmen of securities brokerage companies and securities distribution companies that are not part of a financial conglomerate may enter into agreements with the stock exchanges or commodity and futures exchanges on which they operate, for the use of service and advisory support.

§ 8. The ombudsmen of single credit cooperatives may enter into agreements with the central credit cooperative to which they are affiliated, for the use of service and advisory support.

§ 9. Commercial banks under direct control of commodity and futures exchanges that operate exclusively in the performance of functions as central liquidator and custodian of the operations carried out, constituted in the form of Resolution No. 3,165, of January 29, 2004, are excluded from the requirement established in the caput.

Art. 2. The responsibilities of the ombudsman include:

I - receiving, registering, instructing, analyzing, and providing formal and adequate treatment to complaints from clients and users of products and services of the institutions referred to in Art. 1, which were not resolved by the usual service provided by their branches and any other service points;

II - providing necessary clarifications and informing complainants about the progress of their demands and the measures adopted;

III - informing complainants of the deadline for the final response, which may not exceed thirty days;

IV - sending a conclusive response to the complainants' demand within the deadline informed in item III;

V - proposing to the board of directors or, in its absence, to the institution's management, corrective measures or improvements to procedures and routines, resulting from the analysis of received complaints;

VI - preparing and sending to internal audit, the audit committee, when existing, and the board of directors or, in its absence, to the institution's management, at the end of each semester, a quantitative and qualitative report on the performance of the ombudsman, containing the proposals referred to in item V.

§ 1. The service provided by the ombudsman to clients and users of the products and services of the institutions referred to in Art. 1 must be free and identified by means of a service protocol number.

§ 2. The reports referred to in item VI must remain available to the Central Bank of Brazil for a minimum period of five years.

Art. 3. The bylaws or articles of association of the institutions referred to in Art. 1 must expressly contain, among others, the following data:

I - the responsibilities of the ombudsman;

II - the criteria for designation and removal of the ombudsman and the duration of their term;

III - the express commitment of the institution to:

a) create adequate conditions for the functioning of the ombudsman, as well as for its performance to be guided by transparency, independence, impartiality, and neutrality;

b) ensure the ombudsman's access to the information necessary for the preparation of adequate responses to received complaints, with full administrative support, being able to request information and documents for the exercise of its activities.

Sole Paragraph. The provisions of this article, according to the legal nature of the company, must be included:

I - in the social bylaws of the institution, in the first amendment that occurs after the creation of the ombudsman;

II - in the articles of association of the institution, by April 30, 2008.

Art. 4. The institutions referred to in Art. 1 must designate to the Central Bank of Brazil the names of the ombudsman and the director responsible for the ombudsman.

§ 1. For the purpose of the designation referred to in the caput, the following provisions are established:

I - there is no prohibition for the director responsible for the ombudsman to perform other functions in the institution, except that of director of administration of third-party resources;

II - in the cases of multiple banks, commercial banks, savings banks, leasing companies, and credit, financing, and investment societies, the ombudsman may not perform another activity in the institution, except that of director responsible for the ombudsman;

III - in the event that the designation of the director responsible for the ombudsman and the ombudsman falls on the same person, this person may not perform another activity in the institution.

§ 2. The data relating to the director responsible for the ombudsman and the ombudsman must be inserted and kept updated in the System of Information on Entities of Interest of the Central Bank (Unicad) or, if applicable, in another indicated by the Central Bank of Brazil.

§ 3. The director designated under the terms of this article is also responsible for compliance with legal and regulatory norms regarding consumer rights, and must be aware of its obligations towards clients and users of the institution's products and services.

§ 4. The director responsible for the ombudsman must prepare a semi-annual report, in the form defined by the Central Bank of Brazil, regarding the activities of the ombudsman on the base dates of June 30 and December 31, and whenever a relevant occurrence is identified.

§ 5. The report referred to in § 4 must be:

I - reviewed by external audit, which must express itself regarding the quality and adequacy of the structure, systems, and procedures of the ombudsman, as well as regarding compliance with the other requirements established in this resolution, and the respective agreements, in the cases provided for in Art. 1, §§ 6, 7, and 8, must contain a clause providing for responsibility for audit, in accordance with this resolution;

II - sent to the Central Bank of Brazil, duly accompanied by the manifestation of external audit, the opinion of internal audit, and endorsed by the audit committee, when existing, within sixty days of the base date or the occurrence of the relevant fact.

§ 6. The review by external audit, referred to in § 5, item I, does not apply to microentrepreneur credit societies.

Art. 5. The institutions referred to in Art. 1 must adopt measures to ensure that all members of the ombudsman are considered qualified in a certification exam organized by an entity of recognized technical capacity.

§ 1. The certification exam referred to in the caput must cover, at a minimum, topics related to ethics, consumer rights and defense, and conflict mediation, and must be held after the date of entry into force of this resolution.

§ 2. The formality provided for in this article must be met within a maximum period of two years, counted from the date of entry into force of this resolution.

§ 3. After the period established in § 2, the designation of the members of the ombudsman is conditioned to proof of qualification in the certification exam referred to in the caput, in addition to compliance with the other requirements of this resolution.

§ 4. The institutions referred to in Art. 1 are responsible for the periodic updating of the knowledge of the members of the ombudsman.

Art. 6. The ombudsman must maintain an updated control system of received complaints, in such a way that the history of services and the identification data of clients and users of products and services can be evidenced, with all documentation and measures adopted.

Sole Paragraph. The information and documentation referred to in the caput must remain available to the Central Bank of Brazil for a minimum period of five years.

Art. 7. The institutions referred to in Art. 1 must designate the director responsible for the ombudsman by August 31, 2007.

Art. 8. The first report to be prepared in accordance with Art. 4, § 4, must relate to the base date of December 31, 2007.

Art. 9. The establishment of the ombudsman, as provided for in this resolution, must be provided by:

I - September 30, 2007, by multiple banks, commercial banks, savings banks, leasing companies, and credit, financing, and investment societies;

II - November 30, 2007, by the other institutions mentioned in Art. 1.

Art. 10. The Central Bank of Brazil may adopt complementary measures necessary for the execution of the provisions of this resolution.

Art. 11. This resolution enters into force on the date of its publication.

Brasília, July 26, 2007.

Henrique de Campos Meirelles
President