From The Washington PostBy Cornel Ban and Kevin GallagherDecember 17, 2014 Cornel Ban...
Financial System Law No. 4595 of 1964
(amended through 2009)
The Financial System Law No. 4595 of 1964 establishes the responsibilities of the National Monetary Council (promulgating rules and regulations) and the Central Bank of Brazil. Duties of the Central Bank include enforcing financial rules and regulations as well as licensing and registration. Inter alia, the law defines financial institutions as institutions that engage in the assessment, intermediation, or application of financial resources of their own or of third parties.
DISCLAIMER: Due to the fact that an English translation was unavailable for this law, information for this summary has been taken from secondary sources and not from review of the actual legal text.