Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 180

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 180
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·   their compliance with all applicable regulations.
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 The board of executive officers of a financial institution is responsible for implementing an effective structure for internal controls by defining responsibilities and control procedures and establishing corresponding goals and procedures at all levels of the institution. The board of executive officers is also responsible for ensuring compliance with all internal procedures.
 
4.B.70.02-19 Restrictions on foreign investment
 The Brazilian Constitution allows foreign individuals or companies to invest in the voting shares of financial institutions based in Brazil only if they have specific authorization from the Brazilian government, declaring, by means of a presidential decree pursuant to article 52, of the Act of Transitional Constitutional Provisions (ADCT), that the participation of foreign capital is in the interest of the Brazilian government. On September 26, 2019, the federal government published Decree No. 10,029, delegating to the Central Bank of Brazil the power to recognize the government’s interest in the viability of investment operations. On January 22, 2020, the Central Bank of Brazil issued Circular No. 3,977/20, which recognizes that the shareholding in the capital of financial institutions headquartered in Brazil, of natural persons or legal entities resident or domiciled abroad, is of interest to the Brazilian Government, provided that the requirements provided for in the regulations of the Central Bank of Brazil are met, including: constitutional procedures, an operating permit, cancellation of the permit, control changes and corporate restructuring of financial institutions. Thus, the analysis regarding the shareholding of foreign capital in financial institutions will be performed in the same way as the analysis of composition of capital and shareholding, to which financial institutions of national capital must submit. However, foreign investors that do not comply with the requirements and procedures laid down in the regulations of the Central Bank of Brazil may acquire publicly traded non-voting shares of financial institutions based in Brazil or depositary receipts representing non-voting shares offered abroad. Any investment in common shares would depend on government authorization. In January 2012, the Central Bank of Brazil authorized us to create an ADR program for our common shares in the U.S. market. Foreign interest in our share capital is currently limited to 30.0%.
 
4.B.70.02-20 Anti-money laundering regulations, banking secrecy and financial operations linked to terrorism
 Under Brazilian anti-money laundering rules and financial operations linked to terrorism, particularly Law No. 9,613/98 (as amended by Law No. 12.683/12) and No. 13