The Brazilian Securities and Exchange Commission (“CVM”) issued, on October 2, 2026, CVM Resolution No. 247 (“CVM Resolution 247”), which amends CVM Resolution No. 60 and Regulatory Annex II to CVM Resolution No. 175. Its purpose is to improve how information is submitted to and consulted in the Central Bank of Brazil’s Credit Information System (“SCR”).
The SCR is a database administered by the Central Bank that gathers information on credit transactions of individuals and legal entities, including loans, financings, co-obligations and guarantees. The system supports the supervision of the credit market and the assessment of borrowers’ indebtedness and risk by the entities authorized to consult it.
In CVM Resolution No. 60, a new Article 51-A was added. It requires securitization companies to submit information on credit transactions to the SCR on a monthly basis, in accordance with the templates made available by the Central Bank, within nine business days after the end of the reference month. In addition, securitization companies are now authorized to access data available in the SCR, subject to the confidentiality of the information accessed, as provided in the legislation governing the secrecy of financial institutions’ transactions.
In CVM Resolution No. 175, the amendments focus on Regulatory Annex II, which applies to credit receivables investment funds (“FIDCs”). FIDC administrators were already required to submit information to the SCR, and CVM Resolution 247 shortens the submission deadline from ten to nine business days, among other provisions.
With the amendments to Regulatory Annex II, the manager is also authorized to consult credit transaction information available in the SCR as part of the due diligence related to the acquisition of credit receivables. This authorization is subject to the other SCR rules established by the National Monetary Council (CMN) and to the applicable confidentiality obligations.
Furthermore, CVM Resolution 247 created a series of related obligations applicable to both securitization companies and FIDC administrators. These include registration in Unicad and identification of the persons responsible for submitting the information and for technical support; ensuring data quality; notifying counterparties of the reporting, if this has not yet been done; and retaining the authorizations for consultation for at least five years from the maturity, settlement or write-off of the transaction. The resolution also requires compliance with confidentiality obligations, with the other rules applicable to SCR access and with court orders requiring client data to be withheld.
CVM Resolution 247 can be accessed here.
The new rules take effect on November 1, 2026. Securitization companies already registered with the CVM on the date of publication will have until October 31, 2027 to comply with the new requirements.
For further information, please contact the Real Estate Finance and Financial and Capital Markets teams at FreitasLeite Advogados.
