Brazil’s Finance Chief Backs Central Bank Oversight of Investment Funds 

Brazil’s finance chief called for giving the central bank authority to regulate investment funds, arguing the move would strengthen oversight of the financial system following the liquidation of troubled Banco Master SA.

Finance Minister Fernando Haddad said he has advocated transferring regulation and supervision of investment funds from Brazil’s securities regulator, the CVM, to the central bank. The proposal is under discussion within the monetary authority and the attorney general’s office, he said.