On Aug. 4, 2025, BRZ CB approved Resolution 5.237, which consolidates and updates the regulatory framework for Credit, Financing and Investment Companies (SCFI).
Measure comes into effect on Sep. 12, represents a step forward in the harmonization of regulations for segment, direct impact on the competitiveness and legal security.
Brings together rules that had dispersed since 1959, repealing obsolete provisions.
Adds practices from newer institutions, such as credit fintechs, payment institutions.
Incentives for companies to migrate to SCFI segment as they expand their operations.
This the result of Public Consultation 101/2024, which received 33 contributions from market participants, including associations, law firms, and fintechs, see #218425.
Suggestions added to final text: inclusion of foreign fundraising tools, consolidation of use of Real Estate Credit Letters (LCIs) and Structured Operations Certificates (COEs).
On Jul. 24, BRZ CB provided for constitution, organization, operation.
BRZ CB issued Resolution 5.237 re operations of financing and investment companies.
This provides for the constitution, organization and operation of said companies.
Highlights
Operation of credit, financing, investment company depends on BRZ CB authorization.
Name of institutions must include expression Credit, Financing, Investment Company.
Use of a name or trade name with terms characteristic of other institutions of National Financial System or similar, in the vernacular or in a foreign language, is prohibited.
Credit, financing and investment companies must permanently observe minimum limits of paid-in share capital and net equity of R$7,000,000.00 (seven million reais).
Credit, financing, investment companies may participate in share capital of others.
The company in the process of authorization, or duly authorized to operate by BRZ CB until the date of entry into force of this Resolution, must promote the adjustments.
Revocation
Resolution 45, of 1966; Resolution 165, of Nov. 1970; Resolution 651, of Nov. 1980.
Resolution 869, of Dec. 1983; Resolution 987, of Dec. 1984, Resolution 1,.092, of Feb. 1986; Resolution 1.557, of Dec. 1988; provisions of Resolution 1.559, of Dec. 1988.
Resolution 2.099, of 1994; Resolution 4.812, of Apr. 2020, Ordinance 309, of 1959.
Effectiveness
Resolution shall come into force on Sep. 1, 2025.
Aug. 4, 2025, BRZ CB Approval
On Aug. 4, 2025, BRZ CB approved Resolution 5.237, which consolidates and updates the regulatory framework for Credit, Financing and Investment Companies (SCFI).
Measure comes into effect on Sep. 12, represents a step forward in the harmonization of regulations for segment, direct impact on the competitiveness and legal security.
Brings together rules that had dispersed since 1959, repealing obsolete provisions.
Adds practices from newer institutions, such as credit fintechs, payment institutions.
Incentives for companies to migrate to SCFI segment as they expand their operations.
This the result of Public Consultation 101/2024, which received 33 contributions from market participants, including associations, law firms, and fintechs, see #218425.
Suggestions added to final text: inclusion of foreign fundraising tools, consolidation of use of Real Estate Credit Letters (LCIs) and Structured Operations Certificates (COEs).
