Financial Market: main news from 08 to 12/06
1. INPI recognizes Pix as a well-known trademark associated with the BCB
On Tuesday (9), the Ministry of Development, Industry, Trade and Services (MDIC) announced that the National Institute of Industrial Property (INPI) recognized Pix as a highly renowned trademark associated with the BCB. Under the measure, the trademark will receive special protection beyond financial services, preventing the registration of “Pix” in any product or service class. According to INPI, Pix was already a registered trademark, but restricted to its original segment. The publication is expected to appear in the next edition of the Industrial Property Gazette (RPI). The “Pix” is the first Federal Government trademark to achieve this status, underscoring Pix's essential role in the Brazilian payments industry.
2. FSB proposes practices for responsible AI adoption by financial institutions
On Wednesday (10), the Financial Stability Board (FSB) published a report consolidating sound practices for the responsible adoption of artificial intelligence by financial institutions. The document addresses risks and safeguards related to the use of AI in the financial sector. It encourages the boards and senior management of financial institutions to incorporate the topic into governance agendas, strategy, and risk management. The suggested practices include clear limits on AI agents, human approval for higher-risk actions, and adapting internal controls and human resources processes to their use. The guidelines are non-binding and open for public consultation until July 22, 2026.
Global regulator calls for stricter controls on AI in the financial sector
3. Financial sector associations publish a statement supporting the BCB’s technical authority
On Tuesday (9), Abranet, Abecs, Abipag, ABBC, Febraban and Zetta issued a joint statement supporting the BCB’s legal and technical authority to regulate, authorize and supervise financial institutions, payment institutions and payment service providers. The statement was released amid a judicial discussion concerning a BCB decision authorizing a market participant to operate. In the statement, the entities acknowledge that the Judiciary is responsible for reviewing the legality of BCB acts but defend preserving the BCB’s technical-prudential assessment to avoid market instability.
Joint statement in support of the legal and technical competence of the Central Bank
4. BCB studies MED 2.0 improvements to expand tracing and recovery of Pix fraud funds
On Wednesday (10), at an event hosted by the Brazilian Fintech Association (ABFintechs), the BCB said it is working to improve Pix’s Special Return Mechanism (MED 2.0) - which has been mandatory since February, 2026. The improvements aim to expand fraud tracing and increase the recovery of funds diverted through Pix. Measures under review include creating a fraud score for Pix transactions and adjusting systems to identify final beneficiaries in transactions processed by payment intermediaries, such as marketplaces and betting platforms. The BCB is also assessing interim precautionary measures for institutions with weaknesses in fraud controls, such as operating-hour restrictions or limits on the registration of new Pix keys, while preserving the timeliness of dispute procedures.
Joint statement in support of the legal and technical competence of the Central Bank
Banks and fintechs are asking the Judiciary to respect the Central Bank's technical autonomy
Fintech says lawsuit against the Central Bank only addressed the deadline for ceasing operations
Fintech denies challenging the Central Bank's authority in court
5. Otto Lobo takes office as CVM chair and begins changes in superintendencies
On Monday (8), following the appointment of Otto Lobo as Chairman of the Brazilian Securities and Exchange Commission (CVM) and Igor Muniz as a Commissioner, changes were made to the leadership of six Superintendencies and the General Superintendence. According to the institutional statement, the changes focus on areas not directly responsible for market supervision, including institutional development, administration, intelligence, planning, innovation, information technology, economic analysis, risk management, and integrity. The CVM stated that the changes are part of a new stage of institutional and technological growth, with a focus on technology, tokenization, and enforcement. It also indicated that it intends to begin, within the next 100 days, a public discussion on the pillars of the regulatory framework for tokenization.
President Otto Lobo initiates broad renewal in the CVM's Superintendencies
Otto Lobo assumes the presidency of the CVM and dismisses seven superintendents
