meta_id 3626931

On October 22, 2026, the Central Bank of Brazil (BCB) and the National Monetary Council (CMN) issued Joint Resolution No. 21, amending Joint Resolution No. 1 of May 4, 2020, which governs the implementation of Open Finance in Brazil. The amendments refine the framework for data and service sharing, partnership arrangements, consent management and governance. The resolution introduces definitions for "partner entity," "integrating institution," "economic group" and "decoupled approval flow," which allows consent to be requested in the receiving institution's environment and approved later in the transmitting institution's environment. It prohibits partnership contracts between institutions authorised by the BCB and bars institutions from proposing consent revocation to clients. It also requires integrating institutions to identify clients and obtain express consent for each partner entity, and restricts partner entities from reverse engineering transactional data. Institutions must designate a director responsible for data sharing, and the board of directors and executive board must actively oversee Open Finance, with those duties non-delegable. Institutions must also prepare a report on their Open Finance activity, signed by that director. Existing contracts involving data sharing must be reported to the BCB, with a list of partner entities due by December 1, 2026, and adjustments to contracts and consents to follow a schedule set by the BCB. Institutions must also make the BCB's required monitoring data available. The resolution took effect on its publication date. Institutions should review partnership contracts, consent processes and governance arrangements, and prepare for the list of partner entities due December 1, 2026. Further technical requirements and the adjustment schedule will be set by the BCB. References: - Joint Resolution No. 21 of October 22, 2026, Central Bank of Brazil (available on the BCB website)