25 de outubro de 2021

Brazilian Securities Commission publishes new Resolution against money laundering

The new Resolution of CVM, No. 50/2021, which revoked Instruction Nº 617 of CVM, was enacted on September 2nd and will be effective on October 1st, 2021.

The Resolution No. 50/2021 expands the scope in comparison to the previous CVM instructions. It not only provides for the prevention of money laundering and terrorism financing, but also for the financing of the proliferation of weapons of mass destruction. Furthermore, the Resolution No. 50/2021 also brought new provisions regarding the registration of operations and maintenance of files, as well as changes on the definitions of Politically Exposed Persons.

The Resolution is aligned with the policy from CVM to fiercely combat money laundering and other malfeasances. It requires even more attention from all players in the market regarding their internal policies, to prevent wrongdoings. Among other measures, it increased the level of information to be gathered regarding the clients and also adds other political exposed persons to the existing list.

Check out the full text of the new Resolution at the following link: https://conteudo.cvm.gov.br/legislacao/instrucoes/inst050.html