The Superintendent of the Private Insurance Superintendence (SUSEP) extended the term of SUSEP Public Inquiry no. 8/2018 about the draft of the Circular providing for specific internal controls to prevent and fight crimes of money laundering or concealment of assets, rights, and amounts and related crimes, monitoring of transactions, and proposed transactions with politically exposed persons as well as to prevent and fight terrorism financing.

The period to send comments and suggestions will end on March 18, 2019.


1) LAW No. 13805, OF 1/10/2019

Law no.13805/2019, published in the Federal Official Journal (DOU), amends Laws no. 9012/1995 and 8036/1990.

Law no. 9012/1995 prohibits the official credit institutions from granting credit, financing, and other benefits to legal entities in debt with the Unemployment Savings Fund (FGTS). Article 1 of the Law no. 9012/1995 was amended and now reads as follows:

"Art. 1 The credit institutions are prohibited from granting financing to legal entities in debt with the FGTS or from waiving their payment of interest, fine, inflation adjustment or any other benefit backed by the taxpayer's money or derived from the FGTS.

Par. 1 The FGTS deposits will be proved by a certificate issued by the Federal Savings Bank (CEF)."

Par. 2 of that article, which provided that the payment in installments of debts by the official credit institutions could be authorized upon the proof mentioned in par. 1, was revoked.

On the other side, par. 3 was added establishing that the prohibition provided in the head provision of the article does not apply to credit to settle FGTS debts.

In turn, article 27, item b, of Law 8036/1990 on the FGTS and other matters was amended and now it reads as follows:

"Art. 27. The FGTS Compliance Certificate issued by the Federal Savings Bank (CEF) is required in the following situations:


b) where the Federal, State or Municipal Governments or entities of the Federal, State or Municipal Government, whether direct or indirect entities or foundations, or the Federal, State or Municipal Governments indirectly intend to be granted a loan or financing backed by the taxpayer's money or funds derived from the FGTS by any credit institution."

To view the full article please click here.

To view newsletters, please click here

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.