The objective of this study is to analyze the legal obligation of ANATEL - Brazilian Telecommunication Agency in order to determine how effectively these stipulated responsibilities have been met and, thus, have contributed to the achievement of this agency's mission. This work seeks to analyze if the notion of independence attributed to this organization, is sustained by the effectiveness of its stipulated responsibilities, and by the introduction of flexibility and autonomy components in its management model, in such a way as to allow for the achievement of it mission. The results obtained through this study suggest conclusions that call on directors of regulatory agencies, on those responsible for the formulation of public policy, and on those responsible for the inspection of public organization to reevaluate the referential adopted by the management of those organization as well as to stimulate discussion and on-going study of this subject.