DTLAW INFORMATIVE NO. 01/2018. CIVIL AREA
DTLAW INFORMATIVE Nº 01/2018
CIVIL AREA
On December 21, 2017, the Central Bank of Brazil issued Communication No. 31,506, through which brokerage firms and securities distributors, along with credit institutions, will be integrated into the online seizure system (known as the Bacen Jud System).
With this measure, which is set to begin in an experimental phase starting January 22, shares of open funds held in accounts and orders will be subject to direct seizure by the Judiciary as a coercive measure against debtors, who still benefit from the slowness of the judicial system when trying to frustrate creditors' rights.
The integration of these institutions into Bacen Jud will occur in three distinct phases. After the implementation of the first phase, the inclusion of fixed income assets, public or private (Bank Deposit Certificates - CDBs, Real Estate Credit Notes - LCIs, Agribusiness Credit Notes - LCAs, Direct Treasury, among others) in the seizure orders is scheduled for March 31.
The system will undergo tests and operational adjustments until May 30, at which point the third and final phase of the integration will begin, covering the possibility of online seizure of all types of assets held by brokers, securities distributors, and financial institutions in general.
DECOUSSAU TILKIAN LAWYERS
Rubens Decoussau Tilkian
Ana Júlia de Almeida Moraes