In a monthly recap of June developments, the Brazil Securities Commission highlighted changes in its leadership and internal structure alongside a series of supervisory, enforcement and market oversight actions. The update noted the appointment of Otto Lobo as president and Igor Muniz as director, additional changes to the agency’s internal administrative composition, and the launch of the 2026 edition of the TOP teacher training program by CVM’s Education Advisory Committee. The recap also pointed to board decisions on settlement agreements and enforcement measures. The board accepted a new settlement proposal involving a director of Banco Mercantil and rejected a settlement proposal involving REAG’s chief financial officer. Separately, CVM said it fined managers of TBM-Têxtil Bezerra de Menezes S.A. more than BRL 270,000, suspended and canceled the registrations of two listed companies, suspended certain public offers and later reversed some of those suspensions, communicated a court order on the disposal of assets involving three investment funds, and issued guidance linked to a temporary outage in the SRE system and to a Financial Action Task Force notice on countries posing potential risk to the financial system. For the TOP program, the 2026 edition is fully online and applications are open until July 6.
Brazil Securities Commission (CVM)2026-07-01
Brazil Securities Commission highlights leadership changes and June supervisory actions
In its June roundup, the Brazil Securities Commission highlighted leadership changes, including the appointment of Otto Lobo as president and Igor Muniz as director, and the launch of the 2026 TOP teacher training program. The update also covered settlement decisions, a fine of more than BRL 270,000 against managers of TBM-Têxtil Bezerra de Menezes S.A., and several registration and public offer suspensions and reversals. Applications for the online TOP program remain open until July 6.