The Brazil Securities Commission (CVM) Board has accepted a Term of Commitment settlement proposal from Gabriel Magalhães da Rocha Guimarães, in his capacity as investor relations director of Zamp S.A., in connection with an administrative sanctioning proceeding. The settlement includes a payment of BRL 400,000 to the CVM. The Federal Specialized Prosecutor’s Office at the CVM found no legal impediment to the agreement, and the Term of Commitment Committee recommended acceptance following negotiations. The case was opened by the Corporate Relations Superintendence to assess alleged failure to immediately disclose a material fact regarding a proposal to acquire rights to exploit the Starbucks brand that was about to be presented to the then franchisee, in the context of media reporting and atypical trading in Zamp shares on 18 and 19 April 2024, potentially breaching provisions of the Brazilian Corporations Law and CVM Resolution 44.
Brazil Securities Commission (CVM) 2025-11-19
Brazil Securities Commission accepts BRL 400,000 settlement with Zamp investor relations director over delayed material fact disclosure
The Brazil Securities Commission (CVM) accepted a Term of Commitment settlement from Gabriel Magalhães da Rocha Guimarães, investor relations director of Zamp S.A., involving a BRL 400,000 payment. This follows an investigation into the alleged failure to disclose a material fact related to a Starbucks brand acquisition proposal amid unusual trading activity in Zamp shares. The settlement was recommended by the Term of Commitment Committee and deemed legally permissible by the Federal Specialized Prosecutor’s Office at the CVM.