The Brazil Securities Commission (CVM) issued a declaratory act ordering the immediate suspension of public offers of securities intermediation services associated with the foreign company Capitalist LTD, which operates under the CARIORO brand. CVM also warned the capital markets and the general public that the firm is not authorised by CVM to operate in this capacity. CVM’s Superintendence of Market and Intermediaries Relations identified indications that, through the website www.carioro.com, the company was seeking to attract clients resident in Brazil to conduct securities transactions. CVM stated that Capitalist LTD is not authorised to intermediate securities or to raise funds from investors for investment in securities.

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