Brazil Securities Commission (CVM) ordered Digital Smart LLC (BULLEX) and its responsible person, Guilherme Leite dos Santos, to immediately suspend any public offering of securities intermediation services. The order follows an alert to the capital markets and the general public after the Superintendence of Market and Intermediary Relations (SMI) identified indications that the firm and its responsible person, via the website bull-ex.com/bullex/, were seeking to attract clients resident in Brazil to conduct securities transactions. CVM stated that neither Digital Smart LLC (BULLEX) nor Guilherme Leite dos Santos is authorised by CVM to intermediate securities or to raise funds from investors for investment in securities, and formalised the measure through CVM Declaratory Act 23,539.
Brazil Securities Commission (CVM) 2025-06-26
Brazil Securities Commission orders Digital Smart LLC and Guilherme Leite dos Santos to immediately halt public offers of securities intermediation services
The Brazil Securities Commission (CVM) has ordered Digital Smart LLC (BULLEX) and Guilherme Leite dos Santos to cease public offerings of securities intermediation services. This action follows an alert from the Superintendence of Market and Intermediary Relations (SMI) regarding unauthorized activities targeting Brazilian clients. The order was formalized through CVM Declaratory Act 23,539.