The Brazil Securities Commission will hold a sanctions hearing on July 14 at 3 p.m. covering two administrative enforcement cases involving former or current managers of Fertilizantes Heringer S.A. and Ammo Varejo S.A. The session will examine alleged incomplete or inconsistent market disclosure on related-party transactions and irregularities linked to Fertilizantes Heringer’s April 28, 2023 annual general meeting, as well as alleged failures by Ammo Varejo managers to prepare and submit periodic information on time. The Fertilizantes Heringer case names Julio Enrique Varela Gubitosi and Daniil Sergunin. The Ammo Varejo case names Elio George Avelino Franca e Silva, Luiz Conrado dos Santos Carvalho Sundfeld, Bárbara Gomes da Silva, João Gustavo Rebello de Paula, Josué Christiano Gomes da Silva and Josué Gomes de Alencar. If none of the accused or their legal representatives indicate that they will participate, the session will be conducted on a restricted basis through electronic voting.
Brazil Securities Commission (CVM)2026-07-13
Brazil Securities Commission schedules sanctions hearing on alleged disclosure failures at Fertilizantes Heringer and Ammo Varejo
The Brazil Securities Commission will hold a sanctions hearing on July 14 covering two enforcement cases involving managers at Fertilizantes Heringer and Ammo Varejo. The cases concern alleged incomplete or inconsistent disclosure on related-party transactions and AGM irregularities at Fertilizantes Heringer, and alleged late preparation and filing of periodic information at Ammo Varejo. If no defendants or representatives participate, the matters will be decided through restricted electronic voting.