The Brazil Securities Commission (CVM) published a recap of its August activity, bringing together recent rulemaking, consultations, cooperation agreements and enforcement outcomes. Key highlights include Resolution CVM 234 on the registration of market participants, the launch of the Sustainable Finance Action Plan for 2025-2026, and the first edition of its Real Estate Sector Bulletin. The roundup also covers the extension of a public consultation involving rating agencies and the opening of Public Consultation SNC 02/25 on amendments to other rules stemming from CPC 51, which incorporates IFRS 18. CVM/SEP Circular Letter 4/2025 released an updated manual for submitting periodic and event disclosures, while new and renewed cooperation agreements included a financial education partnership with ANBIMA, Sebrae and the Central Bank of Brazil, a technical cooperation agreement with Instituto Pensar Agropecuária, and renewals with the Public Prosecutor’s Office and the Federal Public Prosecutor’s Office. On supervision and enforcement, CVM issued alerts over alleged irregular activity by A3 Invest Assessoria de Investimentos Ltda., BBN Finance S/A and its partner, and Innovative Wealth Management Intermediações Ltda., rejected a proposed settlement with Reag Distribuidora de Títulos e Valores Mobiliários S.A., and reported sanctions including BRL 6.9 million in fines for front running and BRL 25.7 million in fines for public offerings carried out without registration or exemption. Other items noted include the selection of eight projects for the first LEAP cycle, publication of a guidance manual for World Investor Week 2025, a temporary unavailability of the Electronic Information System (SEI), and a CVM note regarding Constitutional Amendment Proposal 65/2023.

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