Our partner Thiago Araujo was featured in an article on the Investidor Institucional website regarding the decision by the Federal Court of Accounts (TCU) which ordered the National Superintendency of Supplementary Pensions (Previc) to share its databases on pension fund investments.
For Thiago, the TCU’s decision strengthens Previc’s supervisory powers by removing the main barrier previously used by Bacen to withhold this information: the claim of banking secrecy, as well as the requirement for an agreement or prior consent from the funds themselves.
However, he also believes that this increases the pressure from the Court itself on Previc. This is because the TCU had already been treating the agency’s oversight capacity with some reservation; now that Bacen’s data is secured, this pressure is likely to grow. “If Previc fails to turn the Central Bank’s data into more effective oversight, the TCU may use this, in the future, as an argument for greater intervention by the court in the system,” he says.