The Brazil Securities Commission (CVM) announced a judgment session starting at 14:00 on 18 December to decide three administrative sanctioning proceedings. The session is open to the public and will be held in person at the CVM’s headquarters in Rio de Janeiro, with the option to follow by videoconference. The cases cover alleged irregular public offering activity by GRF Assessoria LTDA. and Guilherme Ricardo Fuhr (possible breach of Article 19 of Law 6,385), potential irregularities involving trades in JBS USA LLC bonds and JBS S.A. shares linked to Antigua LLC and Blessed Holdings LLC in a proceeding against Joesley Mendonça Batista, and an alleged conflict of interest and non-disclosure of a formal link with a competing company involving Romes Gonçalves Ribeiro (possible breaches of provisions in Laws 6,404 and 13,303). The Ribeiro case began judgment on 17 June 2025 and was suspended following a request for review by Acting President Otto Lobo. If none of the accused or their appointed counsel indicate an intention to participate, the CVM will conduct the session in restricted form via electronic voting. The reports made available ahead of the session may be amended after the judgment takes place.
Brazil Securities Commission (CVM) 2025-12-18
Brazil Securities Commission to hold sanctioning judgment session on cases involving GRF Assessoria, Joesley Batista and an alleged conflict of interest
The Brazil Securities Commission (CVM) will hold a public judgment session on 18 December to decide on three administrative sanctioning proceedings. The cases involve alleged irregular public offerings by GRF Assessoria LTDA., potential irregularities in trades linked to JBS USA LLC and JBS S.A., and a conflict of interest case involving Romes Gonçalves Ribeiro. If the accused or their counsel do not participate, the session will proceed with electronic voting.