Gabriela de Ávila Machado
Lawyer at Marcos Martins Advogados
The National Monetary Council published CMN Resolution 4.871, which allows securities brokers and distributors to act as issuers of electronic money. The Resolution amended the Regulations attached to Resolution No. 1,120/1986 and the Regulations attached to Resolution No. 1,655/1989, and thus allows these companies to provide payment services to their clients from January 2021.
SCTVMs and SDTVMs will have to choose between maintaining registration accounts and using payment accounts, and if they opt for the latter, they will be able to provide a wider range of services, such as the payment of bills of exchange.
According to the Central Bank’s Director, Otávio Damaso, “the regulatory measures (…) give TVM brokers and distributors equal competition with other entities in the SFN in the provision of payment services”.
