The Brazilian Pension Funds Authority participated in the opening of the 20th National Meeting of Lawyers of Closed Pension Funds Entities in Brasília, using the forum to set out supervisory priorities for closed pension funds, including updating the sanctions framework and promoting mediation and negotiated solutions to disputes. Director-superintendent Ricardo Pena argued that the current sanctions regime under Decree 4,942/2003 is outdated, still referencing bodies abolished in 2004 and 2010, and should be revised to align supervisory practice with the Central Bank of Brazil, the Brazilian Securities and Exchange Commission and SUSEP, and to move closer to international rules. The discussions also referenced recent sector changes such as automatic enrolment, PREVIC Resolution 23, removal of the requirement to sell real estate and greater flexibility in the Administrative Management Plan (PGA). PREVIC’s chief prosecutor, Leandro da Guarda, flagged the risk of double punishment for the same facts when the Federal Court of Accounts (TCU) also acts on closed pension funds and said a technical cooperation agreement is under discussion to improve coordination. PREVIC speakers were scheduled for the second day of the event to cover further regulatory changes, including CNPC Resolution 60, Provisional Measure 1292 and tax developments, and to discuss litigation and alternative dispute resolution, including the Commission for Monitoring Relevant Actions and the Mediation, Conciliation and Arbitration Chamber.

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