A autorregulação regulada da interoperabilidade entre infraestruturas de mercado financeiro

Abstract

[Purpose] The research addresses the enforced self-regulation of interoperability between financial market infrastructures in Brazilian law, with the purpose of identifying and understanding the challenges associated with its implementation. [Methodology/approach/design] The research is exploratory in nature and analyses the recent regulations issued by the Central Bank of Brazil - Res. BCB Nos. 264/23, 304/23, 308/23 and 339/23. [Findings] The specificities linked to the concept of self-regulation are pointed out, such as the exercise of public interest competences by regulated agents and the requirement for accountability. [Practical implications] The practical challenges in implementing regulated self-regulation include technical regulation and economic regulation of the market. The study puts forward analyses and suggestions for improving implementation. [Originality/value] This self-regulation model is recent and has not been analysed in the literature. The study is relevant because it analyses regulations that have not yet been studied and which have a direct and current practical application.

Keywords

• self-regulation
• regulation
• financial market infrastructure
• brazilian central bank