The Brazil Securities Commission (CVM) will hold a judgment session from 15:00 on 26 May for two administrative sanctioning proceedings. One case concerns alleged fraudulent transactions involving the investment of assets from the municipal public servants pension regime of Cabo de Santo Agostinho, known as CABOPREV. The other concerns Eduardo Garcia de Souza and an alleged irregular exercise of securities portfolio management activity. The CABOPREV case involves Bittenpar Participações S.A., GF Participações Ltda. and seven individuals. In the separate case, the alleged conduct is framed as a possible breach of Article 2 of CVM Resolution 21 together with Article 23 of Law 6.385. The session will be open to the public at the CVM headquarters in Rio de Janeiro and will also be available by videoconference. If none of the defendants or their appointed representatives indicates an intention to participate, the session will be held on a restricted basis through electronic voting.
Brazil Securities Commission (CVM)2026-05-25
Brazil Securities Commission schedules 26 May judgment session on alleged CABOPREV fraud and unlicensed portfolio management
The Brazil Securities Commission (CVM) will hold a judgment session on two administrative sanctioning proceedings, one concerning alleged fraudulent transactions involving assets of the municipal public servants pension regime CABOPREV and another concerning Eduardo Garcia de Souza for alleged irregular securities portfolio management. The CABOPREV case involves Bittenpar Participações S.A., GF Participações Ltda. and seven individuals, while the separate case concerns a possible breach of Article 2 of CVM Resolution 21 and Article 23 of Law 6.385/76.