Publications

BCB Resolutions No. 519 and 520 make it clear: the era of informality is over. What are the main structural challenges PSAVs will face?

▫️ Substantially higher minimum capital: Capital and minimum net equity thresholds have been significantly raised, aligning PSAVs with Joint Resolution No. 14 (a rule that harmonizes prudential requirements across supervised institutions). Many companies will need to restructure their funding to comply.

▫️ Governance and risk: Strict requirements for cybersecurity, risk management, and compliance are now mandatory, placing PSAVs on par with traditional financial institutions in terms of supervisory expectations.

▫️ Prohibited activities: Raising funds from the public (except through the issuance of shares) is prohibited, and new conditions have been set for lending and financing operations, requiring an immediate review of the business model.

Donato & Garcia Neto Advogados (DGN) works on the front lines of regulatory compliance. We help your company review governance structures, implement asset segregation, and plan for adherence to the new capital requirements.

For more information, access our full briefing here.