The Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil (BACEN) have created a Work Group (WG) to study the defense of competition in the banking system and possibly seal the peace between the agencies.
Not that there has been a serious conflict, but, historically, the two agencies defend their own jurisdiction for the competition analysis. We have, curiously, bank mergers (a very recent case is Itaú/Citibank) that have continued to be conducted by CADE even after a court decision recognizing BACEN’s jurisdiction (Bracesco/BCN). In conduct matters, CADE has recently opened two processes concerning the exchange market.
What the WG will do (exchange of information between the two agencies, workshop, etc.) could certainly lead to a greater understanding, something that will certainly bring more legal certainty to the sector.