Resolution CMN No. 3908 — Provisions on the designation of a director responsible for processes of consulting information regarding positions in derivative financial instruments

RESOLUTION NO. 3908

Provisions on the designation of a director responsible for processes of consulting information regarding positions in derivative financial instruments.

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 September 30, 2010, based on Articles 3, items V and VI, and 4, item VIII, of the aforementioned law, in Law No. 4,728, of July 14, 1965, in Article 7 of Law No. 6,099, of September 12, 1974, and Article 1, paragraph 1, of Complementary Law No. 130, of April 17, 2009,

RESOLVES:

Article 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil, if they opt to consult information regarding positions in derivative financial instruments held by natural or legal persons, must previously have designated a director responsible for such consultation procedures.

Sole Paragraph. For the purposes of the responsibility referred to in the caput, it is admitted that the designated director performs other functions in the institution, except those related to the administration of third-party resources.

Article 2. The Central Bank of Brazil is authorized to issue complementary norms and adopt the measures necessary for the compliance with this resolution.

Article 3. This resolution enters into force on the date of its publication.

Brasília, September 30, 2010.

Antonio Gustavo Matos do Vale
Substitute President