Governance
Find out more about our governance
In the FGC's decision-making structure, the highest deliberation body is the General Assembly, made up of all associated financial institutions. The Assembly is responsible for analyzing the accounts, approving the entity's financial statements, in an ordinary meeting held until April 30th after the end of the year, and elects the members of the FGC Boards.
The administration of the FGC and the execution of its activities are the responsibility of the Board of Directors and the Executive Board, made up of professionals independent of the associates.. Advisors and Directors are subject to a commitment to confidentiality and the approval of their names by the Central Bank of Brazil (BCB) for the exercise of their functions.
Composition of statutory bodies
Election Procedures
The Executive Board is composed of 2 to 5 Directors, one of whom is the Executive Director and the others without specific designation. It will be elected by the Board of Directors for a term of 3 (three) years, with re-election allowed, subject to the following provisions:
- Participation is not allowed for:
- Controllers, administrators, or employees of financial institutions;
- Administrators of third-party resources, other institutions authorized by the Central Bank of Brazil, or companies belonging to their respective conglomerates
- Professionals from these institutions or companies who are formally licensed or temporarily removed;
- Administrators or employees of representative class entities of financial institutions or other institutions authorized by the Central Bank of Brazil;
- Professionals from these entities who are formally licensed or temporarily removed.
- The members elected to the Executive Board must have their names submitted to the Central Bank of Brazil, which approves them, provided they meet the requirements established by current regulations, similar to the process for holding positions in statutory bodies of financial institutions and other institutions authorized by the mentioned Autarchy.
- Once the respective names are approved, the members must take office after signing a confidentiality commitment letter addressed to the Central Bank of Brazil."
Permanent
Substitute
Activities and Term
The FGC has an Advisory Board, without executive functions, composed of up to six full members and six alternates, elected by the General Assembly, based on nominations made by the Board of Directors, with a term of 3 (three) years, with re-election allowed. The Advisory Board meets upon the convocation of the Board of Directors, when it decides to consult them on:
- Ideas, suggestions, and proposals for the formulation of policies, guidelines, and strategies for the FGC's performance in its purposes.
- Operations and businesses in which the FGC participates and that require evaluation in terms of impact on the financial market;
- Other matters, within the scope of the FGC's activities, that may impact the solidity and stability of the National Financial System.
Members of the Advisory Board must be natural persons with recognized knowledge and experience in business, operations, and activities developed in the financial system.