Resolution Coaf No. 40, 22 November 2021 – Procedures for politically exposed persons for entities supervised by the Council for the Control of Financial Activities (Coaf)

The resolution defines the categories of politically exposed persons (PEPs) for entities supervised by Coaf, including domestic officials, foreign heads of state, senior executives of public companies, and senior officials of international entities, and sets a five‑year persistence of the PEP status after the person ceases to hold the position. Regulated entities must obtain prior authorization from the managing partner, conduct due diligence to determine the source of funds, and apply enhanced continuous monitoring for transactions involving PEPs, their families, close collaborators, or related legal entities. Identification of domestic PEPs must rely on official public databases, while foreign and international PEPs may be identified through open sources and public or private databases. Non‑compliance is subject to the sanctions provided in art. 12 of Law No. 9,613/1998; Resolution No. 29/2017 is revoked and the new rules take effect on 1 December 2021.

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Provides procedures to be observed concerning politically exposed persons by those subject to the supervision of the Council for the Control of Financial Activities (Coaf) as per § 1 of art. 14 of Law No. 9,613 of 3 March 1998. Upon the entry into force of this resolution, Resolution No. 29, of 7 December 2017, of Coaf is revoked.

Published on 23/11/2021 15:05 Modified 5 years ago

https://www.in.gov.br/en/web/dou/-/resolucao-coaf-n-40-de-22-de-novembro-de-2021-361264576

The PRESIDENT OF THE COUNCIL FOR THE CONTROL OF FINANCIAL ACTIVITIES – COAF, using the authority conferred by item IV of art. 9 of the Statute approved by Decree No. 9,663 of 1 January 2019, maintained in force, in accordance with Law No. 13,974 of 7 January 2020, and pursuant to art. 9 of Law No. 13,901 of 11 November 2019, makes public that the Plenary of the Council, in a session held on 7 October 2021, based on art. 8, items I, II and IV, of the said Statute, and considering the provisions of § 1 of art. 14 of Law No. 9,613 of 3 March 1998, resolved:

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Source: Conselho de Controle de Atividades Financeiras — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works