Santander CACEIS Brasil is legally constituted in the form of a DTVM (Distribuidora de Títulos e Valores Mobiliários), an entity regulated by the Central Bank of BrazilAnd, since SC Brazil offers management and administration of funds and custody of securities, is it also subject to the supervision from CVM (local Securities Exchange Commission).
Also, is it part of ANBIMA, Brazilian Association of Financial and Capital Markets Entities, entity responsible for the representation and self-regulation of the investment funds and securities services sector.
SC Brazil has, therefore, the obligation to comply with all the rules of the Central Bank of Brazil, CVM and ANBIMA, in particular with regard to their relationship with customers and their responsibility for supervision and prevention of money launderingIn this regard, S3 has a Risk and Regulatory Compliance department, in charge of applying the best local and international practices established by Santander Group.
SC Brazil has its own policies and systems to check the names of customers in the acceptance process, including tools for monitoring account opening and financial movement compatibility. The Risk and Regulatory Compliance department has dedicated staff especially to this activity in Brazil. It also has committees specially constituted to deal with matters related to risk control, prevention and money laundering and analysis of suspicious transactions and clients.