As of November 1, 2026, the Brazilian Central Bank’s Credit Information System (SCR) will no longer be accessible exclusively to financial institutions.

Under CVM Resolution 247, FIDC (Credit Rights Investment Fund) managers are now permitted to use the system for credit due diligence; FIDC administrators become subject to a reporting regime that carries daily fines for non-compliance; and securitization companies are, for the first time, included in the regulator’s database.

Below are the key points for FIDC administrators, FIDC managers, and securitization companies:

1. Impacts on FIDC Administrators: CVM Resolution 247 elevates the submission of data to the SCR to a full-fledged compliance regime.

Administrators must submit information regarding the fund’s credit operations on a monthly basis—no later than nine business days after the end of the reference month.

The regulation imposes several additional obligations: registration with the Unicad system (including the designation of an individual responsible for the data and a technical lead); ensuring data quality; notifying contracting parties that their information will be submitted to the SCR; retaining authorization from the data subjects for at least five years following the maturity, settlement, or write-off of the transaction; adhering to banking secrecy laws and other regulations set by the National Monetary Council (CMN) and the Central Bank; and masking data when required by court order.

Furthermore, administrators are subject to daily penalty fines for any delays in submission. In practice, the SCR shifts from being a routine back-office operational task to a formal regulatory obligation.

2. Impacts on FIDC Managers: The regulation authorizes managers to consult the SCR during the due diligence process for the acquisition and management of credit rights, a change likely to raise the expected standard of due diligence.

It will be necessary to revise credit and monitoring policies to define the criteria, frequency, and method for documenting inquiries.

3. Impacts on Securitization Companies: The new regulation requires securitization companies to submit information regarding their credit operations to the Credit Information System (SCR) on a monthly basis—no later than nine business days after the end of the reference month.

These companies have until October 31, 2027, to achieve compliance and are subject to the same obligations imposed on the administrators of Credit Rights Investment Funds (FIDCs), including: registration with the Central Bank’s Unicad system (with designated responsible individuals), data quality standards, notification to debtors, retention of authorizations for five years, adherence to banking secrecy, compliance with regulations set by the National Monetary Council (CMN) and the Central Bank, and the masking of data pursuant to court orders.

The new rules for FIDCs take effect on November 1, 2026, while securitization companies have until October 31, 2027, to comply. Long requested by the market, Resolution 247 integrates the capital market with the Central Bank’s credit information system and will generate benefits for both borrowers and investors.