The Brazil Securities Commission’s Securities Registration Superintendence suspended the public offering of units in the NTZ Empreendimentos Limited Liability Multi-Portfolio Receivables Investment Fund after finding that a July 20 modification failed to remedy previously identified documentation irregularities. The suspension applies to the senior subclasses of the second and third series and the mezzanine subordinated subclass of the second series, which were registered under the automatic distribution procedure on June 29. Outstanding issues include unreconciled prospectus information on originators and debtors, questions about unitholders’ waiver of preemptive rights and missing financial statements for debtors in the same economic group whose combined exposure exceeds the 20% concentration limit. The offering is suspended immediately until Aug. 28, during which the irregularities must be fully corrected. Otherwise, the superintendent may order the offering’s withdrawal and permanently cancel the registrations. The offeror must notify the market and investors who have accepted the offering, giving those investors five business days to withdraw or revoke their acceptance.
Brazil Securities Commission (CVM)2026-07-29
Brazil Securities Commission suspends NTZ Empreendimentos fund offering for up to 30 days over unresolved irregularities
The Brazil Securities Commission suspended specified subclasses of the NTZ Empreendimentos receivables fund offering for up to 30 days over unresolved documentation irregularities. The issues must be corrected by Aug. 28 or the offering may be withdrawn and its registrations canceled. Investors who have accepted the offering must be given five business days to withdraw or revoke their acceptance.