The Brazil Securities Commission (CVM) ordered Bravo Assessoria em Investimentos Ltda. and its partner, Iridan Luiz Ribeiro dos Santos, to immediately stop any public offering of investment advisory or securities portfolio management services, and issued a market warning about their activities. CVM’s Superintendence of Market and Intermediary Relations (SMI) identified indications that the firm and its partner, using the website www.bravoinvestimentos.com.br, were presenting themselves as investment advisors and offering securities portfolio management services despite not being authorised by CVM to operate in either capacity. The determination was formalised through CVM Declaratory Act 23,246.
Brazil Securities Commission (CVM) 2025-04-10
Brazil Securities Commission orders Bravo Assessoria em Investimentos and partner to immediately suspend unlicensed investment advisory and portfolio management offers
The Brazil Securities Commission (CVM) has ordered Bravo Assessoria em Investimentos Ltda. and its partner, Iridan Luiz Ribeiro dos Santos, to cease public offerings of investment advisory and securities portfolio management services. The CVM issued a market warning after its Superintendence of Market and Intermediary Relations found the firm was operating without authorization. This action was formalized through CVM Declaratory Act 23,246.