On November 28, 2019, the Central Bank published Circular 3,970, which establishes the general criteria for electronic data communication within the National Financial System ("SFN") and provides for the requirements and prohibitions applicable to the Information Technology Service Provider ("PSTI").
The technical standards related to the electronic communication of data within the scope of the SFN were established through the following documents:
I - SFN Service Catalog: provides on the technical standards of messages and files for electronic communication;
II - SFN Network Manual: provides on the technical standards of the networks and of the PSTI that support data traffic for electronic communication, as well as the necessary requirements for the participants of the RSFN;
III - SFN Security Manual: provides for the technical security standards of the services, networks and PSTI in the electronic communication process.
The activities of (i) communication service operators hired to operate the RSFN; (ii) service providers hired to manage and monitor the RSFN, and (iii) financial institutions and other institutions authorized to operate by the Central Bank of Brazil (except for their activities as PSTI for the other institutions belonging to the financial conglomerate itself) are not permitted to operate as PSTIs.
Subject to the Circular are the Financial Institutions, the institutions authorized to operate by Bacen, the clearing houses and the providers of clearing and settlement services, the government entities of any federative sphere that exchange data within the scope of the National Financial System, the communication service operators contracted to operate the National Financial System Network ("RSFN"), the service providers contracted to manage and monitor the RSFN and PSTI.
The competence to establish the technical standards, authorize and supervise the operation of the PSTI, as well as to adopt all measures for compliance with the Circular is of the Information Technology Department (Deinf) of the Central Bank.
The Circular became effective on the date of its publication and revoked Circular 3629, of 2013.
