Argentina have pulled out of the current tournament, citing security fears.
Traffic director Horacio Lazaro called on the South American Confederation (Conmebol) to punish Argentina "to avoid a repetition and stop any other team from adopting a similar stance".
Traffic were facing a an estimated loss of $150m had the tournament been cancelled.
Brazilian rights marketing company Traffic, who lobbied furiously to get the troubled Copa America in Colombia reinstated, are now demanding that Argentina are fined and excluded from the next tournament, to be held in Peru in 2003.
