The Brazil Securities Commission (CVM) announced it will hold a judgment session at 15:00 on 27 May to decide three administrative sanctioning proceedings covering an audit firm’s professional education obligations, alleged creation of artificial market conditions, and alleged failures in fund-related investment due diligence. The docket includes PAS 19957.011607/2024-20 against Guimarães & Associados Auditores Independentes S/S for alleged non-compliance with the Continuing Professional Education Program; PAS 19957.018237/2024-51 against Celso Luiz Martins Vieira and Paulo José Martins Vieira concerning alleged creation of artificial conditions of supply, demand and price under CVM Resolution 62; and PAS 19957.001254/2023-79 against Interativa Investimentos Ltda. and Jorge Farah Elias regarding an alleged lack of diligence in acquiring assets in breach of investment funds’ investment policies. The session will be open to the public, held in person at CVM headquarters in Rio de Janeiro, and available via videoconference. If none of the accused or their counsel indicates an intention to participate, the judgment will be conducted on a restricted basis through electronic voting, and CVM noted that the published reports may be amended after the session.
Brazil Securities Commission (CVM) 2025-05-26
Brazil Securities Commission schedules 27 May sanctioning judgment session for audit, market manipulation and fund diligence cases
The Brazil Securities Commission (CVM) will hold a public judgment session on 27 May for three administrative sanctioning proceedings. Cases involve Guimarães & Associados for alleged non-compliance with professional education obligations, Celso Luiz Martins Vieira and Paulo José Martins Vieira for alleged market manipulation, and Interativa Investimentos Ltda. for alleged due diligence failures. The session will be accessible in person and via videoconference, with potential amendments to reports post-session.