JURISDICTIONS WITH POTENTIAL RISK TO THE FINANCIAL SYSTEM (BRAZILIAN SECURITIES EXCHANGE COMMISSION)
On January 1st, 2019, the Superintendencies of Market Relations and Intermediaries (“Superintendências de Relações com o Mercado e Intermediários – SMI”) and Institutional Investors Relations (“Relações com Investidores Institucionais – SIN”) of the Brazilian Securities and Exchange Commission – issued the “CVM” Circular Letter CVM / SMI / INS 01/19 (“Circular Letter”).
The purpose of this Circular Letter is to inform that the Financial Action Task Force against Money Laundering and Terrorist Financing (“GAFI/FATF “) has approved and published information regarding countries and jurisdictions with strategic deficiencies in the prevention of money laundering and in the fight against financing of terrorism.
The countries and jurisdictions related are: Democratic People’s Republic of Korea, Iran, Bahamas, Botswana, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.
This information that can be accessed through the website of the Council for Control of Financial Activities (“Conselho de Controle de Atividades Financeiras – COAF”) assures market participants the access to updated subsidies to the indispensable and constant process of rationalization and monitoring of their operations and of their clients.