BILL OF LAW – REGULATION OF CRYPTO ASSETS IN BRAZIL

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On February 22, 2022, the Commission of Economic Matters of the Brazilian Senate approved a bill of law proposed by Senator Flavio Arns to regulate Virtual Assets (VAs) and Virtual Assets Service Providers (VASPs) in Brazil. The bill of law should be submitted to the lower house for consideration and voting. The bill of law… Read more »

The term for submitting the Five-Year Census ends on August 16th

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The Central Bank of Brazil regulated through Circular No. 3.795/2016 the annual and quinquennial censuses of foreign capital in Brazil, the Quinquennial Census being defined as the one referring to years ending in 0 or 5 and the Annual Census referring to all other years. In 2021, the submission is related to the Quinquennial Census… Read more »

Administrative sanctions for violations of the LGPD come into force

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Since August 1st, 2021, Articles 52, 53 and 54 of the Brazilian General Data Protection Law (“LGPD”), which establish administrative sanctions for violations to the Law, are enforceable. In accordance with Article 52, the following sanctions are provided: warning, with indication of a term for adoption of corrective measures; fine of up to two percent… Read more »

Legal-procedural Business

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In a recent decision handed down in Special Appeal No. 1.810.444, reported by Minister Luis Felipe Salomão, the Brazilian Federal Supreme Court stablished boundaries to the legal-procedural business validity foreseen in Article 190 of the Code of Civil Procedure, which allows the adequacy to specific procedural situatons or to aspects of the procedure prior to or during proceedings. This content is only available… Read more »

Chambers Corporate Governance 2021 Brazil

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The Chambers Corporate Governance 2021 Global Practice Guide is now available, covering 28 jurisdictions. Carlos José Rolim de Mello, Roberto Panucci and Pedro Paulo Barbosa, respectively partner and associates of Souza, Mello e Torres are the authors of the Brazilian Chapter of the guide, focusing on decision-making processes; board structure and composition; legal duties of… Read more »