New CNMP Resolution Standardizes Oversight of Private Foundations

The National Council of the Public Prosecutor's Office (CNMP) recently published Resolution 300, dated September 24, 2024, which establishes national guidelines for the Public Prosecutor's Office's role in overseeing private law foundations. This new regulation aims to consolidate and standardize existing practices, as well as introduce improvements in the efficiency and transparency of the oversight process.

Main Aspects of the Resolution

1. National Uniformity

The resolution seeks to create a uniform system of foundational oversight throughout Brazil. This means that foundations in different states will be subject to the same procedures and requirements, promoting greater predictability and legal certainty.

2. Detailed Procedures

The new regulation offers detailed guidance on various aspects of oversight, including:

• Establishment of new foundations

• Approval and amendment of statutes

• Annual accountability

• Asset disposal

• Procedures for the dissolution of foundations

3. Transparency and Efficiency

One of the resolution's focuses is the promotion of best practices, including:

• Elimination of unnecessary bureaucratic requirements

• Use of information technology for greater transparency

• Presumption of good faith of foundation managers

4. Reinforced Oversight

The resolution reaffirms and details the role of the Public Prosecutor's Office in overseeing foundations, establishing clear procedures for:

• Analysis of accounts

• Intervention in cases of irregular management

• Issuance of operational certificates

Impact on Foundations

For private law foundations, the new resolution brings greater clarity about the procedures to be followed and the expectations of the Public Prosecutor's Office. Although it does not fundamentally alter the current system, national standardization may simplify processes for foundations operating in multiple states.

Final Considerations

CNMP Resolution 300/2024 represents a significant effort to consolidate and modernize oversight practices for private foundations. By standardizing procedures and promoting greater transparency, the resolution seeks to balance the need for effective oversight with the reduction of unnecessary bureaucratic barriers. Foundations, managers, and professionals working with these entities should familiarize themselves with the provisions of this new resolution, which promises to bring more efficiency and clarity to the foundational oversight process in Brazil.