SWIFT Business Forum Brazil underscores the growing need for standardization as Brazilian capital markets seek to seize the opportunities posed by internationalization.
The first ever Business Forum in Brazil drew more than 130 participants.
More than 130 executives from financial services and corporates gathered at SWIFT's inaugural Brazil Business Forum (BBF) in Sao Paulo on Wednesday, July 1, 2015. The agenda had a strong focus on compliance and ISO 20022 in light of the opportunities and challenges prevailing in the Brazilian market.
In a candid discussion moderated by BTG Pactual's AML Executive Director, Carolina Bezerra, leaders from the banking sector in Brazil such as Citi's Country Chief Compliance Officer Margarida Smith and Morgan Stanley's Compliance Director for Latin America, Ricardo Dollinger discussed the financial crime compliance challenges presented by the country's current context.
A white paper discussing the future of Brazilian capital markets was released during the event. The document captured the unquestionable need for more standardization in the market as Brazil-based asset managers seek to seize the opportunities derived from a newly approved regulation.
The last session and perhaps, the defining remarks pertaining to standardization in Brazil, came from Aecto Pinto, the head of the Brazilian Association of Capital Markets, ANBIMA, who foresaw standardization playing a critical role in the securities field; however, this requires collaborative and steadfast support from regulators and other critical stakeholders.
For more information and additional highlights on the event please click here.