Remittance

One of the first cases conducted by us was the improvement of the rules governing Brazilian Remittance Payments, that is, payment orders received from abroad. We made this possible through the issuance of Resolution CMN 3,568/08. This resolution established significant advancements in democratizing access to the foreign exchange market.

Home Equity

This case originated from a request by a real estate credit company interested in expanding its activities in the market. As a result, it benefited the entire real estate industry and the population. Our offered technical support for an authorization request from the Brazilian Central Bank to grant loans secured by mortgage/property trust, with a term exceeding 36 months, regardless of the purpose of the funds.

After three years of work, on December 21, 2006, the National Monetary Council (CMN, in Portuguese) issued Resolution CMN 3,425/06, which added the activity of granting loans and financing secured by mortgage or property trust to Resolution CMN 2,122/94, with diverse purposes for acquisitions, improvements, or business by mortgage companies.

Registration of guarantees

With expertise in Market Infrastructures (IMFs, in Portuguese), we contributed to a new regulation that required Financial Institutions to register their assets in a financial registration and settlement system authorized by the Brazilian Central Bank (BCB). In the first stage, registration of vehicle collateral was required, followed by real estate collateral. In this way, we collaborated in the issuance of Resolution CMN 4,088/12 and Circular BCB 3,747/15.

Paper dematerialization

In collaboration with our client, specialized law firms, and technical representatives from the agribusiness sector, we worked on a proposal to allow for the issuance of Book-Entry Certificates of Deposit (CDBs, in Portuguese). The result was the publication of Law 13,986/20, which allowed for the dematerialization not only of CDBs, but also of various other securities.

Payment account for Securities Brokers

In November 2020, Resolution CNM 4,871/20 was issued, authorizing brokerage firms (CTVMs, in Portuguese) and securities distributors (DTVMs, in Portuguese) to function as issuers of electronic currency, thus, enabling them to offer payment services and digital accounts to their clients. We played an active role along with the Brazilian Central Bank, providing guidance to the industry during this process.

Business case: Banco Máxima S.A.
(current Banco Master S.A.)

In 2017, due to the worsening regulatory capital indicators presented by Banco Máxima S.A., the Brazilian Central Bank demanded adjustments to the institution's equity and measures related to capital injections, so that the Bank could meet regulatory limits.

In this scenario, our Consultancy was hired to develop the Business Plan for the capitalization of Bank Máxima and guide the transfer of the institution's ownership, which would require changes in its capital structure, executive management, corporate governance, and internal controls.

Thus, the Adjustment, Equity Restoration, and Corporate and Administrative Restructuring Plan was prepared and delivered to the Brazilian Central Bank in August 2017. The Plan initially included a capitalization schedule for the required equity restoration and capital adequacy, a crucial step towards the intended transfer of ownership to the current controller, Daniel Vorcaro. Additionally, the initial guidelines were outlined for the adoption of a new governance model that prioritized the credit granting environment, corporate risk management, and qualified compliance, aligned with the prudential recommendations provided by the Brazilian Central Bank, adapting the institution's structure to the new operational model already intended by the new controller. In late 2019, the transfer of ownership control of the Bank was approved by the Brazilian Central Bank.

We also played a direct role in restructuring the conglomerate, including: (i) guidance on the administrative process for the transfer of ownership control of Investprev Seguradora S.A., Investprev Seguros e Previdência S.A. and Invest Capitalização S.A., a process approved by the Superintendence of Private Insurance (SUSEP, in Portuguese); (ii) change of the corporate name to Banco Master S.A.; (iii) guidance on the transfer of ownership control from Banco Vipal S.A. to the current Banco Master S.A., which now operates as the investment bank of the conglomerate.

Banco Master currently has over one billion Reais in net equity and holds a prominent position among commercial banks.

Case Monte Bravo CTVM: Structuring an Independent Brokerage Firm

Monte Bravo, recognized as one of Brazil's leading independent investment advisory firms, decided to restructure itself to reach a new milestone: establishing its own independent brokerage firm. This process required a meticulous and specialized approach to meet regulatory requirements and ensure an efficient transition.

JL Rodrigues Regulatory Consulting played a key role in this project, supporting Monte Bravo from the development of the business plan to the management of the authorization process with the Central Bank. Our work included the complete structuring of the new operation, aligned with regulatory requirements and market best practices.

This partnership resulted in the successful establishment of Monte Bravo as an independent brokerage, ready to expand its presence in the financial sector. JL Rodrigues is proud to have contributed to this important moment in the company's journey by providing tailored and effective regulatory solutions.

Case Urbano SCFI: Structuring the Financial Arm of the Braspress Group

The Braspress Group, one of Brazil's largest private logistics conglomerates, decided to expand its operations by creating a financial arm to offer services to its entire ecosystem, including clients, employees, and suppliers. Additionally, the foundation of a financial institution was seen as a strategic opportunity to raise funds and reduce operational costs, further strengthening the group.

JL Rodrigues led the customized process of structuring the group's Credit, Financing, and Investment Company (SCFI), ensuring the operation was authorized and compliant with regulatory requirements. The project included adapting Braspress's business model to the regulated environment, resulting in the creation of Urbano SCFI, which is now fully operational.

This case is a landmark of success and a source of pride for our consultancy, not only because of Braspress's significance as one of the largest groups in the country but also for the challenge of enabling its entry into the financial system with a robust and efficient solution.

Case Plug SCFI: Structuring a Financial Operation for the Real Estate Sector

Unyon Incorporadora, a well-established company in the real estate market, decided to expand its operations by creating a financial arm focused on real estate credit. The goal was to provide comprehensive financial solutions for the entire construction chain, including loans for purchasing properties and financing for renovations.

JL Rodrigues Regulatory Consulting supported Unyon in this strategic project, developing a tailored business plan for establishing a Credit, Financing, and Investment Company (SCFI) designed to meet the sector's specific needs. With a technical approach aligned with regulatory requirements, we structured an operation focused on this dynamic and challenging market at an important time for optimizing the use of real estate receivables as collateral for financing new developments.

This case serves as a successful example of how companies outside the financial system can expand their operations, leveraging new market opportunities through efficient and customized regulatory solutions. For JL Rodrigues, it was a privilege to assist Unyon in achieving this strategic milestone.