Yesterday, R7 covered the developments of the large-scale police operation that revealed monitoring failures in the financial market.
Our Partner Tiago Severo Gomes, a specialist in the regulation of the Brazilian National Financial System, explained to the news outlet how certain structures (when poorly implemented) create zones of opacity that hinder traceability:
"The settlement bank cannot see, at the time of settlement, who the final payer and recipient are. The pocket account is the black box of traceability."
This episode reinforces a central point: since CMN Resolution No. 4,595/2017, compliance has ceased to be merely an operational function and now requires the direct involvement of senior management in the prevention of unlawful acts.
For market participants, the message is unequivocal: governance and compliance are infrastructure pillars of the financial system.
