The Brazil Securities Commission (CVM) has concluded an administrative sanctions proceeding into alleged unlicensed professional securities portfolio management and imposed a 51-month temporary ban from any capital markets activity on Bruno Guilherme Santana Silva, alongside a BRL 255,000 fine on Scallper Brasil Traders Ltda. The case (PAS 19957.002226/2024-50) was brought by the Superintendence of Supervision of Institutional Investors (SIN) to assess responsibility for conducting professional portfolio management without prior CVM authorisation, in breach of Article 23 of Law 6,385 and Article 2 of CVM Resolution 21. The CVM Board’s decision was unanimous and followed the reporting vote of Director João Accioly. The sanctioned party may appeal to the Council of Appeals of the National Financial System, with suspensive effect.
Brazil Securities Commission (CVM) 2025-02-18
Brazil Securities Commission bans Bruno Guilherme Santana Silva for 51 months and fines Scallper Brasil Traders BRL 255,000 for unlicensed portfolio management
The Brazil Securities Commission (CVM) has imposed a 51-month ban on Bruno Guilherme Santana Silva and fined Scallper Brasil Traders Ltda BRL 255,000 for unlicensed securities portfolio management. The unanimous decision, following a case by the Superintendence of Supervision of Institutional Investors, found breaches of Article 23 of Law 6,385 and Article 2 of CVM Resolution 21. The sanctioned party may appeal with suspensive effect.