On September 17, the Congress began work to study Measure No. 893, filed by the Executive, transfering the Control Council of Financial Activities (Coaf) from the Ministry of Economy to the Central Bank. Working in a mixed committee, the legislators also adopted a work plan to deepen the analysis of the proposal.

Last month, on August 20, the Executive, transferred the Control Council of Financial Activities (Coaf) from the Ministry of Economy to the Central Bank. Bolsonaro’s idea with Measure No. 893, was to grant the body, now called the Financial Intelligence Unit, technical and operational autonomy. The text also revokes the obligation for the anti-money laundering council to be composed solely of public officials.

The mixed committee passed the work plan guiding the study of the proposal in Congress and the text approved suggests holding two public audiences on September 24 and October 1, with the intention of presenting the draft report on October 8. 

Although in Brazil these types of Executive measures are equivalent to a law from the moment of their publication in the Official Gazette, Congress has up to 120 days to ratify them, approving the text as sent by the government or modifying its content. If the measure is not approved within that period, it loses its validity.