Employment in Financial Services
Contributing Editor
In a rapidly evolving regulatory landscape, employers in the financial services sector must ensure they are fully compliant with local employment rules and procedures. Helping to mitigate risk, IEL’s guide provides clear answers to the key issues facing employers in the sector
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02. Are there particular pre-screening measures that need to be taken when engaging a financial services employee? Does this vary depending on seniority or type of role? In particular, is there any form of regulator-specified reference that has to be provided by previous employers in the financial services industry?
02. Are there particular pre-screening measures that need to be taken when engaging a financial services employee? Does this vary depending on seniority or type of role? In particular, is there any form of regulator-specified reference that has to be provided by previous employers in the financial services industry?
Brazil
Brazil
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
The law does not require specific procedures or measures before hiring. However, depending on the activities the employee performs, specific certification may be necessary.
07. Are there any specific rules relating to compensation payable to financial services employees in your jurisdiction, including, for example, limits on variable compensation, or provisions for deferral, malus and/or clawback of monies paid to employees?
07. Are there any specific rules relating to compensation payable to financial services employees in your jurisdiction, including, for example, limits on variable compensation, or provisions for deferral, malus and/or clawback of monies paid to employees?
Brazil
Brazil
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
The Collective Labour Agreement establishes several rules for employees in the sector.
There is a determination, through collective negotiation, of:
- percentage of salary increase;
- minimum wage for employees who begin their activities in the sector;
- minimum wage for employees after 90 days’ tenure;
- additional pay for length of service;
- additional overtime;
- night additional pay;
- additional pay for unhealthy or dangerous work;
- function bonus;
- cash bonus;
- gratuity for check clearing;
- meal assistance;
- food assistance;
- daycare and nanny assistance;
- funeral assistance;
- transportation vouchers; and
- assistance with night-time travel.