12. Are there any local laws that would require a cloud service provider to disclose the data it hosts to any third parties in any circumstances (including regulatory or law enforcement authorities)?
Yes. Cloud service providers may be required to disclose any client data pursuant to a valid court order in Brazil, in accordance with Law 12,965/2014 ("Brazilian Internet Legal Framework"). Furthermore, Brazilian National Monetary Council ("CMN") Resolution No. 4,893, effective as of 26 February 2021 ("Resolution 4,893"), and Brazilian Central Bank ("BCB") Resolution No. 85, effective as of 8 April 2021 ("Resolution 85"), require a contractual provision between cloud service providers and financial and payment institutions permitting the BCB to access data stored and information.