CVM: STF approves plan that modernizes, expands framework and adopts AI for inspectors
The Securities and Exchange Commission (CVM) reported this Friday (3) that the Federal Supreme Court (STF) approved the agency's emergency restructuring plan, paving the way for the hiring of servers, technological modernization and the broader adoption of artificial intelligence and data analysis tools in market supervision.
According to the municipality, the objective was to provide institutional reinforcement to face an increasingly complex and digital capital market.
"The approval of the plan by the STF inaugurates a new stage for the CVM. This is a fundamental step to strengthen our institutional capacity, value the people who are part of the authority and prepare the CVM to respond, with even more efficiency, to the challenges of an increasingly robust, dynamic and relevant capital market for the country's development", said the president of the authority, Otto Lobo, in a statement.
The plan envisages reducing the backlog of processes, strengthening the technical team and greater integration with government bodies. Among the priorities is the advancement of tokenization as an instrument to increase the traceability of operations and strengthen the fight against money laundering and organized crime.
"The articulation between CVM, Central Bank, Federal Revenue and Coaf (Financial Activities Control Council) on 'effective control' of the financial system and the capital market is not rhetoric of judicial speech. It is an institutional mandate. And it is precisely here that the tokenization agenda stops being a market modernization agenda and starts to be read as a public State policy aimed at combating corruption and organized crime.", highlighted Lobo.
Among the main actions listed, the municipality mentioned the gradual recomposition of the staff, with the appointment of new employees and the use of candidates approved in public competitions, in addition to initiatives to reduce the backlog of cases and increase the capacity for judgment.
The plan also includes strengthening the technical structure, modernizing the technological infrastructure, with expanded use of artificial intelligence (AI) and data analysis tools, and strengthening institutional cooperation with other public bodies, especially in capital market supervision and inspection actions.
Lobo stated that "all four axes approved in the plan - procedural speed, recomposition of human capital and technological integration, interinstitutional intelligence and preventive supervision over gray areas - converge towards the same bottleneck: the CVM today supervises a market that has become faster, more fragmented and more opaque than its own tracking capacity."
With the approval, the CVM informed that it will continue the measures foreseen in the plan, in coordination with the competent bodies, and reiterated its commitment to "regulatory excellence, the protection of investors and the development of the capital market".
Lobo stated that the tokenization of the capital market, associated with supervision systems with artificial intelligence owned and governed by the CVM itself, is the most direct way to transform the four approved axes into a concrete capacity to track, identify and repress the use of the capital market as a vector for laundering resources and financing criminal organizations - fulfilling, in practice, what the STF determined as a condition for the continued full functioning of the authority.
In addition to emergency measures, the CVM will have to present a medium-term plan to the STF to consolidate its modernization. The initiative coincides with the 50th anniversary of the creation of the authority and signals an attempt to reposition the regulator to keep up with the sophistication of the Brazilian capital market, reinforcing investor protection and inspection capacity in an environment marked by the digitalization of assets and the advancement of new financial technologies, said the CVM.
Source: CNN