CADE and Central Bank of Brazil establish working group on competition in the National Financial System
The Administrative Council for Economic Defense – CADE and the Central Bank of Brazil – BCB established a Working Group (GT in its acronym in Portuguese) aimed at developing studies about competition defense in the National Financial System (SFN in its acronym in Portuguese). These studies encompass the methods and the limits of competencies of both institutions and cooperation between the agencies.
The members of the Working Group are four CADE’s representatives and four BCB’s representatives. The deadline for the conclusion of its activities is 120 days to be counted as from the date of the first meeting and can be extended by the same period, through a specific procedure.
The results of the studies should be presented to the Higher Management of the institutions, in order to take note, analyze or take eventual measures.