The Brazil Securities Commission (CVM) board rejected a proposed settlement (Termo de Compromisso) offered by WNT Gestora de Recursos Ltda in an administrative enforcement proceeding, diverging from the recommendation of the Settlement Agreement Committee. After negotiations in which the committee sought improvements to the initial proposal, WNT committed to pay BRL 780,000 to the CVM, and the Office of the General Counsel at the CVM found no legal impediment to the agreement. The case was opened by the Corporate Relations Superintendency to investigate alleged failures to disclose, in communications dated 4 May 2023, 11 May 2023 and 18 July 2023, a purported interest in changing the administrative structure of Light S.A. (in judicial reorganisation), a potential breach of Article 12(II) of CVM Resolution 44.
Brazil Securities Commission (CVM) 2025-05-06
Brazil Securities Commission rejects WNT Gestora de Recursos settlement proposal in Light S.A. disclosure investigation
The Brazil Securities Commission (CVM) board rejected a settlement proposal from WNT Gestora de Recursos Ltda in an enforcement proceeding, despite the Settlement Agreement Committee's recommendation. WNT had agreed to pay BRL 780,000, and the CVM's General Counsel found no legal barriers to the agreement. The case involved alleged disclosure failures about changes to Light S.A.'s administrative structure, potentially breaching CVM Resolution 44.