Financial Market: main news from 06 to 10/07
1. Brazilian Supreme Court approves emergency restructuring plan for the CVM
Last Friday (3), the Brazilian Supreme Court (STF) approved the emergency restructuring plan for the Brazilian Securities and Exchange Commission (CVM) submitted by the Ministry of Finance, in response to the agency’s staff shortage and operational limitations. The decision requires that at least 70% of the revenue from the supervision fee be allocated to the CVM and provides for the preparation of an emergency plan to restore its supervisory capacity. The measures contemplated include the appointment of candidates approved in public examinations, the strengthening of the collegiate body responsible for adjudicating proceedings, the reduction of the backlog of cases and the prioritization of enforcement proceedings, including approximately 30 cases deemed priorities. The plan also includes the agency’s technological modernization, with expanded use of artificial intelligence, data analytics and database integration to identify suspicious transactions, market manipulation and insider trading, as well as stronger cooperation and information sharing with the Central Bank of Brazil, the Federal Revenue Service and Financial Activities Control Council (COAF), including through the creation of a permanent forum between the BCB and the CVM. Another pillar of the project consists of mapping regulatory “grey areas” involving certain digital assets, new investment models and decentralized infrastructures, as well as strengthening preventive supervision, especially in the fund industry and in activities subject to uncertainty regarding their regulatory classification.
2. BCB reinforces AML/CFT guidelines for transactions involving risk jurisdictions
On Thursday (9), the Central Bank of Brazil (BCB) published BCB Normative Instruction No. 761/2026, which consolidates guidance on the enhanced measures to be adopted by regulated institutions in transactions and business relationships involving clients, correspondent financial institutions and partners established in countries or territories with strategic deficiencies in the implementation of the recommendations of the Financial Action Task Force (FATF). The rule clarifies how the provisions of BCB Circular No. 3,978/2020 should be applied in such cases, reinforcing the adoption of a risk-based approach within anti-money laundering and counter-terrorist financing programs. The minimum measures provided for include obtaining and validating additional information on clients and partners, conducting supplementary analyses of the economic or legal rationale of transactions, enhanced transaction monitoring, increasing the frequency of customer registration updates, imposing operational limits and requiring the officer responsible for the anti-money laundering and counter-terrorist financing policy to assess the feasibility of starting or maintaining business relationships when unacceptable or non-mitigable risks are identified. The rule enters into force on the date of its publication.
3. Federal Police investigates 87 companies suspected of laundering funds from illegal betting operators
On Monday (6), the Federal Police launched Operation Véu de Maia to investigate 87 companies suspected of acting as shell businesses in the movement of funds originating from irregular fixed-odds betting operators. The investigation, initiated based on information submitted by the Secretariat of Prizes and Betting (SPA) of the Ministry of Finance, involves suspicions of money laundering and foreign exchange evasion, including through the possible irregular remittance of funds abroad using cryptoassets. In this context, the role of the Central Bank of Brazil stands out, as BCB Resolution No. 569/2026 requires regulated institutions to share information on individuals and legal entities identified as illegal betting operators. The Federal Court of Accounts (TCU) has also played a relevant role, having identified, through an audit, risks of money laundering, match-fixing and tax evasion, as well as coordination failures among the public bodies responsible for supervision, recommending that the SPA create a permanent interinstitutional coordination mechanism to combat illegal betting operators.
Brazilian Federal Police investigate 87 companies used to launder money from betting operations
4. B3 Launches Options on Bitcoin, Ethereum and Solana Futures
On Monday (6), B3 launched options on Bitcoin (BIT), Ethereum (ETR) and Solana (SOL) futures contracts, expanding its regulated ecosystem of cryptoasset derivatives. The new instruments allow for the adoption of hedging, diversification and positioning strategies in digital assets without direct exposure to cryptocurrencies, since the automatic exercise of the options on the expiration date results in the opening of a long or short position in the relevant futures contract at the previously defined strike price. The contracts will be traded independently, from 9:00 a.m. to 6:30 p.m., and will have market makers to foster liquidity and efficient price formation. According to B3, the initiative is part of its strategy to expand the offering of instruments aligned with global market trends, providing regulated alternatives for risk management, portfolio diversification and exposure to the digital asset market through more sophisticated strategies aimed at investors with a higher degree of sophistication.
5. Fintechs have less than one month to adapt their systems to the tax reform
With less than one month remaining until the end of the adaptation period provided for under the tax reform, fintechs should intensify adjustments to their systems to comply with the new requirements related to the Contribution on Goods and Services (CBS) and the Tax on Goods and Services (IBS). As of August 2026, companies must be able to issue electronic invoices with the new tax fields and may be affected by operational inconsistencies, as well as impacts on billing, logistics and cash flow if they do not complete the transition. In addition to technological adaptations, implementation requires the review of internal processes, integration among tax, finance and technology teams, updates to ERPs and invoice issuance mechanisms, as well as testing and homologation to ensure the correct calculation of the new taxes and continuity of operations.
Fintechs have less than a month to adapt their systems to the tax reform
