Brazil: Adoption of BCB Resolution 86 including data protection rules
Description
Adoption of BCB Resolution 86 including data protection rules
The Brazilian Central Bank issues Resolution No. 86 amending the previous Resolution No. 32 on open banking, introducing data protection measures regarding the data sharing enabled in the open banking rules, including transparency requirements and the obligation to create a manual for customers.
Original sourceScope
Policy Area
Data governance
Policy Instrument
Data protection regulation
Regulated Economic Activity
other service provider
Implementation Level
national
Government Branch
executive
Government Body
central bank
Key regulatory dimensions
Regulated subjects
The businesses, government agencies or individuals affected by this policy or regulatory change.
producer / supplier
1
Type
Private organisation
Economic activity
digital payment provider (incl. cryptocurrencies)
Category
All
Policy change by business practice
The detailed activities within the scope of this policy or regulatory change.
consumer data (all forms): storage (any form)
Regulatory tool
User notification requirement
Data storage/retention obligation
Sanctions
Regulated subjects
1
consumer data (all forms): transfer (any destination)
Regulatory tool
User notification requirement
Data storage/retention obligation
Sanctions
Regulated subjects
1