Dino: It is urgent to restructure regulatory and inspection systems

According to Minister Flávio Dino, from the STF (Supreme Federal Court), the second phase of Operation Hidden Carbon, called "Operation Hidden Flow", launched this Thursday (28), reinforces the "urgency of restructuring the regulation and inspection systems" of the financial market.

"This highlights, once again, the urgency of restructuring regulatory and inspection systems, with emphasis on the CVM (Securities Commission), but also extending to the activities of bodies such as the Central Bank, COAF, among others", he wrote in an order signed after the Union presented the "Emergency Plan for Restructuring the Inspection Activity of the Securities and Exchange Commission".

According to the judge, the aforementioned institutions, even though they are not mentioned as passive in the legal action, "make up the shielding ecosystem of the economic order and the popular economy".

The minister ordered the parties involved in the process to comment on the terms of the Emergency Plan proposed by the Union within 5 working days.

"Operação Fluxo Oculto"
The operation launched this Thursday targets a new money laundering scheme by the PCC (First Command of the Capital) in the fuel sector with the involvement of fintechs and fuel adulteration with the use of naphtha.

59 search and seizure warrants were executed in the states of São Paulo, Rio de Janeiro, Minas Gerais, Paraná and Mato Grosso do Sul.

Fluxo Oculto and PCC: understand how a financial fintech works | LIVE CNN

Source: CNN