The National Monetary Council (CMN) approved, on April 27, 2017, Resolution No 4.567, which modifies the rules already in force regarding the Corporate Governance applicable to financial institutions. It inserts into the current normative principles and criteria already established by the Basel Committee, in order to create a clear example of an inspection mechanism, whereby individuals are under the obligation to contribute to the surveillance of the State on the occurrence of any illegal acts. This newly imposed legal obligation exceeds the usual obligation of mere abstention from illegal acts.
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Best Regards,
Almeida Advogados