Brazil: Regulatory Agencies and Regulation
Banking System
The regulatory system for the Brazilian market is made up of five main agencies: the National Monetary Council (CMN), the Technical Commission on Currency and Credit (COMOC), the Brazilian Central Bank (BACEN), the Securities Commission (CVM) and the Superintendency for Private Insurance (SUSEP). Each one performs one or more of the following functions: standardization, regulation, oversight and consultations regarding activities of the Brazilian financial system. The self-regulating bodies play a similar role and are represented for the most part by the stock and commodities exchanges.