Susep conducts studies to revise capitalization bond regulations

Susep has completed a phase of studies intended to support the revision of regulations for capitalization bonds in Brazil. The agency conducted three Regulatory Impact Analyses (AIRs) based on evidence from regulation and supervision actions.

The studies focus on three main areas: the payment of rights to holders, the allocation of resources in the prize-winning philanthropy modality, and the use of images of goods and services in product advertising. These analyses aim to improve rule effectiveness, information clarity, and operational transparency.

One specific analysis addressed the statute of limitations on redemption rights and prize winnings. The study found that current rules lack objective minimum parameters to ensure payments are made before rights expire. Between 2019 and 2023, approximately R$ 1.4 billion in redemption values and R$ 62.6 million in prize winnings were identified as prescribed. Factors contributing to this include registration difficulties, ineffective communication, and a lack of mandatory payment mechanisms.