The Brazil Securities Commission (CVM) has decided an administrative sanctioning proceeding and unanimously sanctioned Jerônimo Martins Veloso Filho for allegedly creating artificial conditions of supply, demand and price in securities markets, in breach of Article 3 of CVM Resolution 62. Following the reporting director João Accioly’s vote, the CVM’s board imposed a temporary prohibition for 60 months on acting in any capacity in the Brazilian securities market. The case was opened by the Superintendency of Market and Intermediaries Relations (SMI), and director Marina Copola did not participate in the judgment due to an institutional engagement. The sanctioned individual may appeal to the National Financial System Appeals Council.
Brazil Securities Commission (CVM) 2025-03-11
Brazil Securities Commission bans individual for 60 months for creating artificial trading conditions
The Brazil Securities Commission (CVM) sanctioned Jerônimo Martins Veloso Filho for allegedly manipulating securities markets, violating Article 3 of CVM Resolution 62. The CVM board imposed a 60-month ban on his participation in the Brazilian securities market. The decision, following João Accioly’s vote, allows for an appeal to the National Financial System Appeals Council.