The Brazil Securities Commission has scheduled an enforcement hearing from 15:00 on May 12 covering two administrative sanctioning proceedings. The session will include the resumed case on possible disclosure irregularities involving IRB - Brasil Resseguros S.A. and its managers, and a separate case on the responsibility of directors of Companhia de Tecidos Norte de Minas, or Coteminas, while under judicial reorganization. The IRB proceeding names Fernando Passos and José Carlos Cardoso. Judgment in that case began on December 29, 2025, but was suspended after substitute director Luís Felipe Lobianco requested time to review the file. The Coteminas proceeding names Barbara Gomes da Silva, João Batista da Cunha Bonfim and Josué Christiano Gomes da Silva, and concerns possible breaches of article 176 of Law 6,404 together with articles 22 and 27 paragraph 2, and articles 31 and 22 together with 31, of CVM Resolution 80. The hearing will be open to the public at CVM headquarters in Rio de Janeiro and by videoconference. If none of the defendants or their duly appointed counsel indicate an intention to participate, the session will be held in restricted form through electronic voting.
Brazil Securities Commission (CVM) 2026-05-11
Brazil Securities Commission schedules May 12 enforcement hearing on IRB disclosure case and Coteminas directors
The Brazil Securities Commission has scheduled an enforcement hearing to consider two administrative sanctioning proceedings involving IRB - Brasil Resseguros S.A. and its managers, and the directors of Companhia de Tecidos Norte de Minas (Coteminas) under judicial reorganization. The cases concern alleged disclosure irregularities and possible breaches of article 176 of Law 6,404 and multiple provisions of Brazil Securities Commission Resolution 80.