The Brazil Securities Commission (CVM) concluded two administrative sanctioning proceedings, acquitting Pricewaterhousecoopers Auditores Independentes Ltda. and its responsible partner Marcos Paulo Putini over alleged irregularities in an independent audit, while unanimously sanctioning Bluebenx Tecnologia Financeira S.A. and two individuals for a fraudulent securities-market operation and an unregistered public offering. In the audit case, the allegations related to the audit of the financial statements of the Torre Almirante real estate investment fund (FII) for the years ended 31 December 2019 and 31 December 2020, under Article 20 of CVM Instruction 308 and specific requirements of NBC TA 540 (R1) and (R2). In the Bluebenx matter, the CVM imposed corporate fines of BRL 26,000,000 for a fraudulent operation (under CVM Resolution 62) and BRL 9,265,354.92 for conducting a public distribution of securities without CVM registration (under Law 6,385 and CVM Instruction 400). Roberto de Jesus Cardassi and William Tadeu Batista Silva received 78-month temporary prohibitions from operating, directly or indirectly, in one or more types of transactions in the securities market for the fraudulent operation, and fines of BRL 2,316,338.73 each for the unregistered offering; Renato Sanchez Gonzalez Junior and André Massao Onomura were acquitted. The sanctioned parties may appeal, with suspensive effect, to the Council of Appeals of the National Financial System.
Brazil Securities Commission (CVM) 2025-08-06
Brazil Securities Commission acquits Pricewaterhousecoopers Auditores Independentes and sanctions Bluebenx with BRL 26,000,000 fraud fine, BRL 9,265,354.92 unregistered-offer fine and 78-month market bans
The Brazil Securities Commission (CVM) acquitted Pricewaterhousecoopers Auditores Independentes Ltda. and partner Marcos Paulo Putini of audit irregularities but sanctioned Bluebenx Tecnologia Financeira S.A. and two individuals for a fraudulent securities operation and unregistered public offering. Bluebenx was fined BRL 35,265,354.92, while Roberto de Jesus Cardassi and William Tadeu Batista Silva were fined BRL 2,316,338.73 each and banned from market operations for 78 months. The sanctioned parties may appeal to the Council of Appeals of the National Financial System.