Yesterday, R7 covered the developments of the major police operation that exposed monitoring failures in the financial market.
Our partner Tiago Severo Gomes, a specialist in National Financial System regulation, explained to the outlet how certain structures — when poorly implemented — create zones of opacity that hinder traceability:
"O banco liquidante não enxerga, no ato da liquidação, quem são o pagador e o recebedor finais. A conta de bolso é a caixa-preta da rastreabilidade." [The settlement bank does not see, at the moment of settlement, who the final payer and payee are. The pooled account is the black box of traceability.]
This episode reinforces a central point: since CMN Resolution No. 4,595/2017, compliance is no longer just an operational function and requires the direct involvement of senior management in preventing wrongdoing.
For market participants, the message is unequivocal: governance and compliance are infrastructure pillars of the financial system.
