Brazil Securities Commission acquits Mitre Realty investor relations director over alleged related party disclosure failures

The Brazil Securities Commission (CVM) ruled in an administrative sanctioning proceeding against Thaís Nogueira Alonso, investor relations director at Mitre Realty Empreendimentos e Participações S.A., and acquitted her of the alleged breaches concerning corporate disclosures. The Collegiate decided, by majority, to clear her of the charge of failing to disclose a material fact regarding a board-approved acquisition of land owned by the company’s controlling shareholder, and unanimously to clear her of the remaining disclosure-related आरोप. The case, opened by the Superintendence of Corporate Relations, examined three alleged failures: non-disclosure of a material fact about the land acquisition approved on 27 September 2023 (Corporate Law 6,404, Article 157(4), and CVM Resolution 44); keeping the minutes disclosure incomplete for 5–6 October 2023 (CVM Resolution 80 and the company’s bylaws); and omitting information in the 2023 Reference Form on Mitre shares pledged as collateral for a loan taken by controlling shareholders (CVM Resolution 80). Acting President Otto Lobo, as rapporteur, had voted to impose a BRL 361,250 fine for the material fact allegation while acquitting on the other counts, but Directors Marina Copola and João Accioly voted to acquit on the material fact charge as well; the Board also did not accept a preliminary objection raised by the defence. Separately, two other administrative sanctioning proceedings scheduled for the 2 December 2025 session were rescheduled to 23 December 2025: one involving alleged breaches of the duty of diligence by executives of Petróleo Brasileiro S.A., and another concerning alleged breaches of duties of diligence and loyalty related to RPPS investments that were out of compliance in the FIRF Pyxis Institucional IMA-B fund.