Brazil Securities Commission accepts BRL 1.78 million in settlement agreements over alleged material disclosure breaches at Unipar Carbocloro and MRV

The Brazil Securities Commission (CVM) has accepted two Termos de Compromisso to close administrative proceedings before any potential sanctioning process, requiring payments of BRL 340,000 by Alexandre Jerussalmy (Unipar Carbocloro S.A. investor relations officer) and BRL 1,438,200 by Ricardo Paixão Pinto Rodrigues (MRV Engenharia e Participações S.A. chief financial and investor relations executive). In the Unipar matter, the proceeding examined an alleged delay between a press leak about talks involving the acquisition of Braskem S.A. assets on 7 August 2025 and the company’s subsequent material fact disclosure on 8 August 2025, potentially breaching Articles 3 and the sole paragraph of Article 6 of CVM Resolution 44. In the MRV matter, the proceeding assessed responsibility for a possible failure to publish a material fact relating to projections disclosed at MRV Investor Day presentations (6 February 2023 and 15 March 2024) and for an alleged failure to respond immediately to a media leak on 11 January 2024 about revised projections, potentially breaching Article 3(3) and the sole paragraph of Article 6 of CVM Resolution 44. In both cases, the Federal Specialized Prosecutor’s Office attached to CVM found no legal impediment, the Term of Commitment Committee negotiated the terms and recommended acceptance, and the CVM Board followed that recommendation.