The Brazil Securities Commission unanimously imposed fines totaling BRL 3.34 million in two enforcement cases concerning an unregistered public investment offering and failures by Reag Capital Holdings S.A. executives to prepare required financial statements and quarterly reports. Neo In Construção e Incorporação Ltda., under judicial reorganization, was fined BRL 2 million for conducting a public offering without registration, while Anderson Alves de Macedo was fined BRL 1 million for the same violations. The conduct breached Instruction 400 before its repeal and subsequently Resolution 160. In the second case, Reag Chief Executive João Carlos Mansur and Chief Financial Officer Rodolfo Turelli were each fined BRL 170,000 for failing to prepare the company’s complete 2024 annual financial statements and quarterly information forms for the first and second quarters of 2025. The sanctioned parties may appeal to the National Financial System Appeals Council, with the penalties suspended pending appeal.
Brazil Securities Commission imposes BRL 3.34 million in fines for an unregistered offering and financial reporting failures
The Brazil Securities Commission imposed fines totaling BRL 3.34 million in two enforcement cases. The penalties concern an unregistered public investment offering and Reag Capital Holdings executives’ failure to prepare required annual and quarterly financial reports.