The Brazil Securities Commission (CVM) issued Deliberation CVM 899 ordering Nexx Focus Capital A Ltda. to immediately stop, in Brazil, any marketing or offering of securities portfolio management services, warning that the firm is not authorised by the CVM to act as a portfolio manager. The measure follows indications identified by the Superintendence of Institutional Investor Relations that the company has been offering such services through websites and messaging app groups. Failure to comply can trigger a coercive daily fine of BRL 100,000 for the firm and any individuals identified as participating in the irregular acts, without prejudice to liability for any misconduct committed before the deliberation and the potential imposition of sanctions after an administrative enforcement proceeding under Article 11 of Law 6,385.
Brazil Securities Commission (CVM) 2025-07-02
Brazil Securities Commission orders Nexx Focus Capital A to halt unauthorised securities portfolio management offers under threat of BRL 100,000 daily fine
The Brazil Securities Commission (CVM) issued Deliberation CVM 899, ordering Nexx Focus Capital A Ltda. to cease marketing or offering securities portfolio management services in Brazil, as the firm is not authorised by the CVM. Non-compliance may result in a daily fine of BRL 100,000 and potential sanctions under Article 11 of Law 6,385.