Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 155

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 155
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entrepreneurs and Small Business (SCMEPP), through Resolution No. 4,721/19, as amended, which provides for the constitution, authorization to operate, corporate restructuring and cancellation of the authorization to operate. The SCMEPP has the role of granting funding to individuals, microenterprises and small businesses based on the viability of their projects. The SCMEPP cannot raise money from the public, nor can it issue bonds and securities to place bids and public offerings.
 In these circumstances, the fintechs that are already expanding in the Brazilian markets may act in a regulated manner and independently from a financial institution already constituted, as an SCD or SEP. The process of obtaining authorization for the operation of the SCD, SEP and SCMEPP has fewer requirements than those of a multiple bank. However, these entities have a more limited scope of action.
 In June 2020, the CMN enacted Resolution No. 4,822/20, regulating the constitution, organization and functioning of the joint-guarantee society and the counter-guarantee society, introduced by Complementary Law No. 169/19. The joint-guarantee society has as its main objective the granting of guarantees in favor of its participating members in the context of loans contracted by them, and counter-guarantee societies, in turn, are aimed at granting the counter-guarantee to joint-guarantee societies.
  
91 – Form 20-F 2024 | Bradesco
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Subsequently, in November 2022, the CMN issued Resolutions No. 5,046/22, No. 5,047/22, No. 5,050/22 and No. 5,051/22, which govern, respectively, the organization and operation of (i) investment banks, (ii) development banks, (iii) direct credit companies (SCD) and peer-to-peer lending (SEP), and (iv) credit unions.
 Through Resolution No. 5,050/22, which revoked Resolution No. 4,792/20 and Resolution No. 4,656/18, the CMN began to regulate the organization and operation of direct credit companies and peer-to-peer lending companies, and to regulate the execution of loan and financing operations between peers through an electronic platform.
 
Ø  Open Finance
 Open Finance is seen as one of the ways of fostering innovation and competition. Its regulatory implementation was instituted by Joint Resolution No. 01/20, enacted by the Central