On 12 January this year, the Financial Market Commission published the following regulations:

General Rule No. 502: establishes in a single regulatory body the instructions and requirements for financial service providers referred to in Title II of Law No. 21.521, i.e. crowdfunding platforms, alternative transaction systems, credit and investment advice, custody of financial instruments, routing of orders and intermediation of financial instruments.
General Rule No. 503: establishes requirements for accrediting suitability to perform the functions of stockbrokers, securities brokers, commodity brokers, general fund managers, fund quota dealers, registered portfolio managers and those providing investment advisory services.
General Rule No. 504: regulates the provisions of article 65 third paragraph of the Securities Market Law (Law No. 18.045) regarding information provided to investors and the general public, containing recommendations to acquire, hold or dispose of publicly offered securities, or involving the definition of target prices.

Our Capital Markets team has prepared a report summarising the novelties presented in the implications of the Fintec Law.

Read the full document here.