Financial Market: main news from 03 to 07/08
1. CVM creates division dedicated to financial technology and artificial intelligence
Last Friday (31), the Brazilian Securities and Exchange Commission (CVM) created the Financial Technology Division (DITEC), under the Superintendence of Intelligence Development (SDI), through CVM Resolution No. 246. The new division will focus on monitoring emerging financial technologies and their impacts and associated risks for the capital markets, while also supporting tokenization initiatives, the Regulatory Sandbox, and international discussions. The rule also strengthens governance guidelines and the ethical use of artificial intelligence and adjusts the responsibilities of other areas within the CVM, including the Procurement Management Office (GELIC), under the Administrative and Financial Superintendence (SAD); the Intermediary Supervision Management Office (GSUI-2); and the Market Statistics and Monitoring Division (DEMON).
CVM Resolution No. 246, of July 30, 2026
CVM creates division dedicated to financial technology and AI
2. Study finds that fintechs are increasingly prioritizing risk management, even at the expense of rapid growth
Brazilian fintechs are shifting away from a focus on rapid growth toward greater attention to risk management and governance, according to the Profile of Fintech Leadership in Brazil 2026 report. The study found that 43% of the surveyed leaders assess their organizations’ risk appetite before determining the speed of execution, while only 17% prioritize innovation and speed over compliance. The governance of the institutions, however, remains relatively immature: 60% classify it as intermediate and 23% as low. The survey also highlights the growing use of artificial intelligence – with 66% of respondents reporting daily use of generative AI tools – alongside risks arising from the use of such tools without formal policies or internal oversight.
Fintechs are trading accelerated growth for risk management, study shows
Diagnostic Report:
Leadership Profile in Fintechs in Brazil —2026
3. CVM moves forward with experimental regulatory regime for tokenization in the capital markets
Last Friday (31), the CVM held the first meeting of its Tokenization Working Group (GTT) with associations, entities, and self-regulatory organizations from the capital markets to discuss the creation of an experimental regulatory regime for tokenized assets. The meeting brought together more than 50 participants and addressed different network infrastructures that could be used for the issuance, trading, and post-trading of such assets. The objective is to test models that may support future regulation without restricting technological innovation. The working group has 60 days to present a regulatory proposal and 120 days, extendable by an additional 30 days, to complete a report setting out the CVM’s next steps on the matter – counted from July 17, 2026, when Ordinance CVM/PTE No. 177 was published.
4. BCB expected to expand climate-related disclosure requirements for financial institutions
The BCB is expected to issue a new regulation later this month expanding ESG disclosure requirements for financial institutions, according to Kathleen Krause, the Deputy Head of the BCB’s Department of Prudential and Foreign Exchange Regulation. The announcement was made during the Sustainable Finance Forum, organized by the Brazilian Financial and Capital Markets Association (Anbima), the Brazilian Federation of Banks (Febraban), and the Brazilian Confederation of Insurers (CNseg), as part of this year’s São Paulo Climate Week, held from August 3 to 7. The new rule is expected to require quantitative data on institutions’ exposure to sectors with significant greenhouse gas emissions, such as energy, agriculture, and mining, including indicators and targets by sector and region. According to the BCB, this measure seeks to align Brazilian regulation with international standards, reduce unnecessary compliance costs, and strengthen the supervision of climate and sustainability risks in the financial system.
The Central Bank is expected to approve a new ESG data disclosure standard this month
5. Deadline for compliance with the BCB Information Quality Policy expires this year
Institutions regulated by the BCB have until December 31, 2026, to comply with Joint Resolution No. 18, enacted on November 28, 2025, which established the Information Quality Policy applicable to information submitted to the BCB. This Joint Resolution requires data, documents, and reports to have verifiable sources, clearly designated responsible parties, traceable histories, and auditable processes, with assessments based on criteria such as accuracy, completeness, and consistency. Compliance will require stronger data governance, documented processes, continuous monitoring, and greater involvement from senior management. Non-compliance may result in liability and, in more serious cases, administrative enforcement proceedings.
Banks and fintechs are racing against time to meet the Central Bank's data requirements
