The Banco Central do Brasil has opened public consultation on a draft joint resolution setting criteria for the distribution of financial funding products by institutions it authorizes, with contributions accepted until 24 January 2027 under Consulta Pública 131/2026. The draft requires distributors to run a Client Best Interest Policy, prohibits minimum sales targets or quotas for specific products, provides for deferred remuneration with reversal of unpaid instalments, and requires Distribution Policies that bar exclusivity contracts and other practices restricting issuers’ access to distribution channels. Suggestions from the consultation will feed a final draft to be considered by the central bank’s Collegiate Board and the National Monetary Council.
Brazil central bank consults on funding product distribution rules
The Banco Central do Brasil has put a draft joint resolution on the distribution of financial funding products out to public consultation, requiring distributors to act in the client's best interest and banning sales quotas for specific products.
Why it matters: The draft would reshape how Brazilian banks and platforms are paid for selling funding products, tying remuneration to client outcomes over time and barring exclusivity deals that limit smaller issuers' access to distribution.
Data as of Banco Central do Brasil press release, published 3 November 2026, read in full in Portuguese in this run; Consulta Pública 131/2026, contributions open until 24 January 2027.
Sources
- Consulta propõe mais transparência e priorização do interesse do cliente na distribuição de produtos de captação - Banco Central do Brasil - 2026-11-03