Márcio Bonfiglioli

In the final episode of our PIX video series, Sabine and Carlos explore the intricacies of dispute management and fraud prevention within the ecosystem. We uncover the various mechanisms in place to address disputes and complaints, shedding light on the roles of PSPs and the Central Bank of Brazil in resolving conflicts. From the specialized dispute mechanism between PSPs to the end-user-centric refund process, we examine how PIX ensures fairness and efficiency in dispute resolution. 🎥 Watch now 👉 https://lnkd.in/dfF7NFqi #FinancialInclusion #DigitalPayments #PIXBrazil

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Compliance Compass: Global Regulatory Insight's Weekly Regulatory Roundup! Explore the latest regulatory changes and trends from around the G-20 nations in our newest edition, covering updates from 5 – 9 August 2024. What’s Inside: - Anti-Money Laundering: Brazil's Financial Intelligence Centre (FIC) releases guidance on compliance with beneficial ownership requirements, strengthening the fight against money laundering and terrorist financing. - Competition: Canada’s Competition Bureau seeks public input on enforcement approaches to competitor property controls, reflecting recent changes to the Competition Act. - Consumer Protection: Japan’s Consumer Affairs Agency invites public comments on amendments to food labeling regulations, aiming to enhance transparency and health standards. - Financial Services: The European Banking Authority (EBA) publishes final draft technical standards to amend the regulation on benchmarking for credit risk and market risk models. - Environment: The US EPA finalizes updates to the Safer Choice Standard, ensuring stricter requirements for products earning the Safer Choice label or DfE logo. - And more! Read the full Compliance Compass newsletter - https://lnkd.in/gvADpf6K Stay informed and compliant with Global Regulatory Insights! #RegulatoryUpdates #Compliance #GlobalInsights #GRI #LegalNews

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⚜️ Money Laundering Prevention Day 💰 On October 29, the United Nations Office on Drugs and Crime (UNODC) celebrates Money Laundering Prevention Day, supported by Brazil Financial Activities Control Board (COAF) and by other several international and national institutions focused on the subject. For years, UNODC has promoted the development and consolidation of a culture to fight against money laundering at the international level, focusing especially on a preventive approach. The date was created in 2014, with the purpose of raising awareness among young people, adults, entrepreneurs, public officials and society at large that behind money laundering there are transnational organized crime, drug and guns trafficking, corruption, kidnapping, terrorism and the financing of the proliferation of weapons of mass destruction, among others. #AML #prevention #antimoneylaudering

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📑 The Brazil Institute’s recent publication, “Crossroads of Innovation and Liability,” authored by Daniel Castro and Claudio Lucinda, offers a thorough analysis of the digital regulation landscapes in the US and Brazil, focusing on platform liability laws and their broader economic and social impacts. United States: Section 230 of the Communications Decency Act provides substantial protections to internet companies, shielding them from liability for third-party content. This has been pivotal in the growth of major online platforms. Brazil: Article 19 of the Legal Internet Framework requires a court order for content removal, indicating a more reactive stance. Providers are responsible only after legal notification. 📈 Economic Contributions: United States: By 2022, it accounted for approximately 10.3% of the US GDP. Brazil: Brazil’s digital economy reached R$ 981.3 billion in 2022. The digital sector contributed 8.6% of the country’s total economic value added in 2021, with further digitalization potentially boosting the GDP by R$ 1.1 trillion. The rapid advancements in the digital realm have created disparate information among regulators, creators, and users. This asymmetry goes unnoticed as technological innovations seamlessly integrate into daily life. The digital economy’s contribution to broader economic statistics is crucial for effective, unified regulation across the digital landscape. Traditional price indexes need adaptation to reflect technological advancements accurately. Many digital services are free or internally developed by companies, complicating the measurement of their economic value. Evaluating the effect of e-commerce on household productivity is challenging as it shifts efforts from personal tasks to market-driven services, altering time and labor allocation. Challenges in Digital Regulation: The report identifies the complexity of measuring the digital economy’s scope, given the rapid evolution of technology and the prevalence of free digital services. Balancing freedom of expression with the need to manage harmful content remains a critical challenge. Both legal frameworks reflect different philosophical approaches to this balance. Content Production: The shift towards digital platforms has significantly impacted traditional media sectors like newspapers and magazines, while the audio-visual sector remains relatively stable. Platform Liability: The economic implications of platform liability laws are profound, affecting everything from small businesses to major online platforms. The need for a balanced liability regime that fosters innovation while ensuring responsible content management is emphasized. The publication offers actionable recommendations for digital policies that align with the dynamic nature of technology. https://lnkd.in/euy5Zj9X

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In addition to being a sponsoring firm, Management Solutions was a speaker at the “Risks and Opportunities: Governance as a Key to Transition” roundtable organized by ABBI, the Brazilian Association of International Banks #sustainability #risks #opportunities #transition #impact #green

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The importance of analyzing negative media during a due diligence process Those who work with KYC are well aware of the term "adverse media" and its relevance to the final assessment. But what happens when the news reported is false? Recently, the STF (Supreme Federal Court of Brazil) upheld a conviction against a website that confused a witness with a murder suspect in a news article published on the portal. The site reported that one of the prosecution witnesses had been charged with the murder. When sued, the site claimed it had obtained the information from the official website of the Public Prosecutor's Office but later had to remove the witness's name and compensate them with R$ 12,000. It is undeniable that news reports are a fundamental resource for proper compliance due diligence. However, in an era surrounded by fake news or unverified reports, compliance departments must pay attention and seek other ways to verify the information collected. The same applies to analyses involving employees of the companies under due diligence, who may find themselves involved in embarrassing situations when something that is not true is alleged. In Brazil, there are several mechanisms available to validate news. The first is to consult the source of the information, as in the mentioned example, the legal case itself. For other news, the Superior Electoral Court (TSE) created the "Fact or Rumor" page, which is part of the Misinformation Combat Program, along with fact-checking agencies such as Agência aos Fatos , Boatos.Org, UOL Confere, and Fato ou Fake. #compliance #adversemedia

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My One Minute View 1. #Extraterritorial reach of the #Securities and #Futures Act (#SFA) and the #Corruption, #DrugTrafficking and Other Serious Crimes (Confiscation of Benefits) Act (#CDSA) 2. Using / #Laundering the criminal proceeds of Corruption (amongst other 180+ serious offences) under the CDSA is a #predicate offence - and consistutes a Money Laundering Offence 3. Accepting a Differed Prosecution Agreement (#DPA) with another #Authority or #Jurisdiction does not #preclude the Singapore competent Authority from #investigating and potentially #charging an individual or company under the SFA and the CDSA 4. Now more than ever, the onus is thrust on entities to ensure a #legally #compliant working environment. A key focus must be to ensure that #criminalliability does not #accrue to an entity for acts committed by its officers or employees in the course of their work. This can be done by several means, including putting in place #internalcontrols, #policies and #practices, ensuring proper #training of staff as well as providing a proper #whistleblowing mechanism. A strong and #defensible #AML, #Compliance, #AntiBribery, #AntiCorruption and #Ethics program held by a suitable experienced and senior team, will be a good way to demonstrate that the #Board and #SeniorManagement have taken all reasonable steps to #educate, #mitigate, #control and #eradicate behaviour which potentially can attract criminal liability. #Wrongdoers don’t sleep, #Crime does not sleep!

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#Brazil’s central bank has published a list of 13 ‘development themes’ for its second major phase of central bank digital currency (#CBDC) trials. In conjunction with the CVM, the Banco Central do Brasil has now confirmed the focus areas – alongside respective private-sector partners – to be explored. These include collateralised credit in government securities, #tradefinance and real-estate transactions. Amazon Web Services (AWS), Google, Mastercard, Santander and Visa, as well as Brazilian #fintech Nubank, are among the companies that continue to be involved. Read all about it => https://lnkd.in/enhXh8h3 Global Government Forum #Brasil #CBDCs #innovation #smartcontracts #DLT #payments #digitalmoney

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Businesses in Brazil that must comply with money laundering (ML) and terrorism financing (TF) laws, can now unlock the power of AML Accelerate, Arctic’s multi-award winning enterprise-wide risk assessment platform with our 14-day free trial. A number of laws and regulations including Law No. 9.613/1998, Decree No. 8.420/2015, Law No. 13.260/2016, Resolution No. 29/2017 of the National Monetary Council (CMN), Resolution No. 25/2019 of the National Monetary Council (CMN) and Regulation of the Financial Activities Control Council (COAF) provides the legal framework for the prevention and control of money laundering and terrorism financing in Brazil. It outlines various offences, investigative powers, reporting obligations, and penalties related to money laundering and terrorism financing activities. These laws and regulations aim to prevent money laundering and terrorism financing by establishing a comprehensive framework for enterprise-wide ML/TF risk assessments to identify and assess risks and AML/CTF Programs, to document appropriate and proportionate controls to mitigate and manage these risks. AML Accelerate is a cloud-based money laundering and terrorism financing business-wide risk assessment platform designed for small and medium-sized businesses in over 30 industry sectors and 60+ countries. Strengthen your defences against financial crime. Register now at https://hubs.la/Q0312sX10 #AML #RegulatoryCompliance #FreeTrial #Compliance #RiskManagementFrameworks

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Read on our Brazilian Competition Case Law & Trends report: • Petrobras gets CADE approval for new settlement and retains five refineries • CADE clarifies merger notification rules for investment funds • CADE debates new parameters to calculate gun jumping fines • CADE’s Tribunal blocks transaction in the drywall market • Tiremaker and resellers found not guilty in price-fixing investigation • CADE acknowledges the lawfulness of a joint negotiation agreement between competitors and suppliers in the construction market • CADE’s Tribunal reviews cease and desist agreements related to Operation Car Wash • CADE publishes new guidelines on vertical and conglomerate merger reviews and trustees’ activities • Updates in Commercial Defense • 9 trade defense measures will expire in the 2nd semester of 2024 Know more about each of the topics above at our website: https://lnkd.in/dahXsFBb

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Stay informed with our comprehensive digest covering key enforcement actions and sanctions across G-20 nations from 2 – 6 September 2024. Discover critical developments, their impacts, and what actions are required. What's Inside: - Brazil: CADE recommended convicting Rinnai for anticompetitive practices in Brazil’s gas water heater market, potentially impacting resellers and consumers with higher prices and fewer options. - Canada: Marcel Roireau of Construction DJL was sentenced to one year of house arrest for rigging bids on public contracts in Québec, undermining fair competition in government contracting. - France: The Directorate-General for Competition, Consumer Affairs, and Fraud Control blocked the website rivierabudget . com for misleading consumers with false company identification and non-existent services. - India: RBI imposed a penalty on Housing and Urban Development Corporation Limited for non-compliance with KYC and NHB regulations, highlighting deficiencies in asset security compliance. - Japan: JFTC issued a corrective order to Pal System for unfairly reducing subcontractor fees, requiring repayment of over ¥27 million to affected subcontractors. - United Kingdom: The CMA launched an investigation into Ticketmaster’s potential breaches of consumer protection laws related to ticket sales for the Oasis concert. - United States: The FTC opposed the proposed merger of Union Health and Terre Haute Regional Hospital, citing concerns over reduced competition and potential negative impacts on patient care. - And more! Stay ahead of enforcement trends and sanctions with our detailed roundup. Read the full newsletter here - https://lnkd.in/gujKZNYF #EnforcementActions #Sanctions #GlobalRegulations #Compliance #FinancialIntegrity #G20 #GRI

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FSVC recently held a training for judges and prosecutors in global corruption and money laundering in Luanda, Angola. FSVC volunteer experts Francisco T. Matias, Jeffrey Green, and Peter Deegan presented key regulatory concepts, the legal landscape for combating money laundering, and financial investigation tools and techniques. As a result, participants developed a deeper understanding of anti-money laundering/combating the financing of terrorism (AML/CFT) principles, and the significance of international cooperation in combating corruption and in AML/CFT efforts. This training will empower judges and prosecutors in Angola to handle AML/CFT cases effectively.     Many thanks to USAID, FSVC volunteer experts, and all participants for a meaningful training! #FSVC #Angola #USAID #judges #prosecutors #globalcorruption #moneylaundering #regulatoryconcepts #AMLCFT #AMLCFTprinciples #combatingcorruption #volunteerexperts

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The G20 Leaders’ Summit concluded this week marking the end of a highly successful Brazilian Presidency of the G20. As a dual G20 and FATF member, Brazil spearheaded efforts to increase financial inclusion and recognised the importance of FATF’s leading global standards on cryptocurrencies and beneficial ownership transparency (both referenced as consensus documents in the Annex to the Leaders' Declaration). FATF looks forward to bringing together the 200+ countries in our Global Network to feed into South Africa’s G20 Presidency in 2025. Take the opportunity to input to the FATF’s ongoing public consultation on financial inclusion 👇 and watch this space for developments on work on cross-border payments. #FATF #AML #CFT #G20Brazil #G20Brasil #financialinclusion #moneylaundering #terroristfinancing #proliferationfinancing #FollowTheMoney

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[RECENTLY RELEASED] 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐥 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐓𝐚𝐱 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 –𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐑𝐞𝐦𝐚𝐢𝐧𝐢𝐧𝐠 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬   Following a request from the Brazilian G20 Presidency, this report by the OECD and the Global Forum on Transparency and Exchange of Information for Tax Purposes examines the critical role of beneficial ownership transparency in combating tax evasion and illicit financial flows. With reference to the G20 mandates in this area, the report examines progress made in implementing the beneficial ownership requirements set out in the standards on transparency and exchange of information for tax purposes. Offering a global perspective, the report assesses the current state of implementation across jurisdictions, analyses the peer review results on effective implementation for Exchange of Information on Request, together with best practices for strengthening beneficial ownership transparency in the global tax landscape. The report highlights capacity building activities to assist jurisdictions in building robust beneficial ownership frameworks and concludes with possible future directions. 📕➡️ https://oe.cd/5E7 #OECDtax #GlobalForum #OECD #tax #taxtransparency #G20 #G20Brazil #beneficialownership Séverine Baranger Philip Kerfs Paul Hondius Zayda Manatta Gwenaëlle Le Coustumer Hakim Hamadi Radhanath Housden

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Join us for CPI’s next Antitrust Hour, December 17, 2024 at 10:00AM EST, exploring Brazil's proposal to adopt ex ante regulatory frameworks. Experts will delve into the potential benefits, hurdles, and long-term impacts of this proactive approach to governance, which could reshape the regulatory landscape in Brazil and Latin America. Register here: https://lnkd.in/gWmFCDMV Beatriz Kira, Research Fellow in Law & Regulation, UCL Assimakis Komninos, Partner, White & Case LLP Diana Moss, Vice President and Director of Competition Policy, Progressive Policy Institute Victor Fernandes, Commissioner, Conselho Administrativo de Defesa Econômica - Cade Christopher Yoo, Professor of Law, University of Pennsylvania Moderator Krisztian Katona, Vice President of Global Competition and Regulatory Policy, Computer & Communications Industry Association Competition Policy International #antitrust #antitrustlaw #Brazil #exante #governance #latinamerica #regulation #competitionlaw

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Explore the latest enforcement actions and sanctions across G-20 nations in our newest edition, covering updates from 26 – 30 August 2024. What’s Inside: - Brazil: CGU and PF launched Operation Front Stage to investigate money laundering involving shell companies funded by the Aldir Blanc Law. This operation focuses on financial misappropriation in the cultural sector during the pandemic. - France: UBER was fined €290 million by CNIL for transferring personal data outside the EU without adequate safeguards, highlighting the critical importance of GDPR compliance in cross-border data transfers. - India: The Reserve Bank of India imposed fines on multiple cooperative banks for non-compliance with KYC norms, exposure limits, and regulatory requirements, underscoring the need for stringent adherence to financial regulations. - South Africa: The AFU and SIU secured a preservation order for assets worth R6.5 million linked to fraudulent NLC grant misuse, reinforcing the crackdown on corruption and asset recovery. - Turkey: The Turkish Competition Authority initiated investigations into construction companies for potential violations of competition laws, which could result in significant penalties if anti-competitive practices are confirmed. - United States: The FTC and the State of Florida secured a court order against RivX, a trucking automation company, for defrauding consumers with false promises, freezing assets, and halting operations. And more! Stay ahead of enforcement trends and sanctions with our detailed roundup. Read the full newsletter here - https://lnkd.in/gRVhtfrc #EnforcementActions #Sanctions #GlobalRegulations #Compliance #FinancialIntegrity #G20 #GRI

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Here we feature four stories highlighting recent, high-impact political risk trends with market implications: #Brazil: Persistent government budget deficits, complicated legislative politics, and expectations of fewer U.S. policy rate cuts in 2025, all captured in our Sovereign Risk indicator (see Figure) will maintain upward pressure on the USD/BRL.    #Bangladesh: Political unrest and the economic crisis are keeping Society Pulse Risk elevated and the USDBDT weak as the interim government works toward both holding an election and overhauling the constitution. #France: A 2025 budget impasse was avoided via legislation to carry over the 2024 budget, keeping Policy Risk in check, but Government Risk remains elevated as government formation remains challenging given legislative divides, limiting prospects for addressing the expanding deficit. #Namibia: Governance and Society Risks continue to drive Political Risk higher following the 27 November general elections despite the incumbent victory of the South West Africa People's Organization (SWAPO) party. Please visit www.geoquant.com or schedule a demo [email protected] to learn more.

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