Abstract

This text analyzes Law N 21,000 that created the Commission for the Financial Market, giving life to a new institution for the regulation of financial markets, in replacement of the Superintendence of Securities and Insurance. The main objective of this reform was to guarantee the independence of the regulator in relation to public powers and private interests. The foregoing justifies a critical analysis of the law, in order to determine whether the reforms undertaken meet this objective. We will thus examine the new regulation with regard to all those factors that configure the independence of the regulator, in order to compare it with the regulation prior to the reform, and with the requirements that are formulated with respect to said guarantee by regulatory doctrine and comparative law.