SARB Normative 25/2021 Febraban

The Brazilian Federation of Banks – Febraban published Normative SARB 25/2021, dated 20/12/21, which establishes principles and guidelines to be adopted by its signatories in the financial sector in their relations with data subjects. Febraban highlighted, in particular, the importance of banks strengthening rules to protect data subjects. Therefore, Regulation 25/2021 provides for the development and implementation of privacy governance programs with minimum requirements and good practices.

We highlight, below, some topics that should be observed by companies in the financial sector, such as:

i) the existence of mechanisms to prevent damage to the data subject;

ii) concerns with the protection of personal data from the first phase of the product or service (observance of privacy by design);

iii) the creation of adequate internal governance for data processing;

iv) the creation of a specific flow to meet the rights of data subjects;

v) at least one privacy channel is available for the exercise of rights by data subjects, which may be a specific channel or an existing relationship channel; and

vi) the provision and implementation of training, instruction and qualification of employees and administrators of financial institutions.

Finally, we emphasize that failure to comply with the aforementioned Regulation will result in the application of the sanctions provided for in Section IX, chapter II, of the Code of Ethical Conduct and Banking Self-Regulation.

Read the Normative in full.