The Brazil Securities Commission (CVM) announced that its Supervisory Settlement Committee (CAS) has entered into an Administrative Supervisory Settlement Agreement concerning the events related to the material fact disclosed by Americanas S.A., which is in judicial reorganisation, on 11 January 2023. CVM expects the information obtained under the agreement to add inputs to its ongoing work to investigate and analyse the facts involving the company, which has been underway since 2023. The update follows the first supervisory agreement in the Americanas matter, concluded on 29 September 2023. CVM’s framework allows supervisory agreements to result in the termination of punitive action or a reduction of applicable penalties in exchange for effective, full and permanent cooperation that is useful to the case, including admission of an infringement, identification of other involved parties, and provision of supporting information and documents; proposals are submitted to CAS, established by CVM Ordinance No. 109 of 17 June 2019.
Brazil Securities Commission (CVM) 2025-10-15
Brazil Securities Commission enters supervisory agreement tied to Americanas S.A. January 2023 material fact
The Brazil Securities Commission (CVM) announced an Administrative Supervisory Settlement Agreement with Americanas S.A., in judicial reorganisation, to aid its investigation into the company's January 2023 disclosed material fact. This follows the first supervisory agreement concluded in September 2023. CVM's framework allows such agreements to potentially terminate punitive actions or reduce penalties in exchange for full cooperation, including admission of infringement and provision of supporting information.