LATAM FINTECH REGULATION 3 EDITION

IS FINTECH REGULATED IN The purpose of this space is to identify and analyze the YOUR JURISDICTION? WHAT IS THE elements and criteria to be considered for the development REGULATORY APPROACH TOWARDS and implementation of regulatory strategies and financial FINTECH IN YOUR JURISDICTION? supervision of innovative technologies, in order to protect investors and to promote the development of a federal. [...] IS PEER TO PEER LENDING (P2P) participative elaboration of rules, among the amendments REGULATED IN YOUR JURISDICTION? proposed in Resolution 922 are the following: (i) the ARE THERE, OR WILL THERE BE, ANY broadening of the scope of the crowdfunding projects to be PARTICULAR REQUIREMENTS FOR financed, in addition to those intended for the promotion A CONSUMER OR AN INVESTOR TO of entrepreneurial c. [...] view of the Brazilian government and of the market as a Brazil’s Open Finance system is also a world-wide whole, the Payments Act is an important step forward to benchmark, given its over-arching scope (financial services promote financial inclusion, innovation, competition and the and investments) and the mandatory participation of banks decentralization of the payments industry in Brazil. [...] The Decree imposes REGULATED IN YOUR JURISDICTION? a series of procedures, standards and guidelines referring ARE THERE, OR WILL THERE BE, to (i) the provision of customer service; (ii) the quality of ANY PARTICULAR REQUIREMENTS the treatment and monitoring of demands; and (iii) the FOR A CONSUMER OR AN effectiveness of the service. [...] On the one hand, systemic health is 2017, the Special Commission of Innovation and Insurtech the guarantee that, if materialized, one or more risks covered was created with the purpose of studying the impacts of by the insurance policy will not lead to the ruin of the entire Fintech in insurance companies and, if necessary, suggest insurance system.