The Brazil Securities Commission (CVM) will hold a hearing on October 13 at 3 p.m. to determine potential liability among 17 companies and individuals for alleged misconduct in the securities market. The proceeding covers possible fraudulent securities transactions, deficiencies in credit risk ratings, breaches of lead intermediary duties and failures by fiduciary administrators to supervise asset managers. The hearing will be open to the public and available by videoconference, unless no defendant or representative requests to participate, in which case the matter will be decided through a restricted electronic vote.
Brazil Securities Commission schedules hearing on alleged market fraud and control failures
The Brazil Securities Commission will hold an October 13 hearing concerning potential liability among 17 companies and individuals. The allegations cover fraudulent securities transactions, deficient credit ratings and failures in intermediary and fiduciary oversight.