Eletronic Compliance Assessment by COAF

Eletronic Compliance Assessment by COAF

The Council for Financial Activities Control ("COAF") initiated yesterday, August 3, 2022, the Electronic Compliance Assessment ("AVEC") to verify if supervised entities are abiding by Resolution No. 36 (March 10, 2021).  

The AVEC must be completed by all supervised persons who are part of:  

  • Jewelry, stones, and precious metals trade segments (e.g., jewelry shops, banks, financial and intermediary agencies, pawn shops, etc.);
  • Trade in luxury or high-value goods (e.g., clothing, accessories and electronics stores, auctioneers, art galleries, antique stores, etc.);
  • Promotion, intermediation, sales, agency, or negotiation of transfer rights of athletes or artists (e.g., agencies, agents, investment funds, etc.). 

All entities in the sectors above must verify if they have received the notification about the AVEC by SISCOAF and pay attention to the 15-day deadline for response.  

For more information on the matter, contact us at +55 (11) 4083-7600 or at ifranco@azevedosette.com.br and gferreira@azevedosette.com.br.