The Brazil Securities Commission (CVM) has approved two settlement agreements (Termo de Compromisso) to close administrative proceedings before any potential sanctioning process, requiring payments of BRL 340,000 by Alexandre Jerussalmy and BRL 1,438,200 by Ricardo Paixão Pinto Rodrigues. In the Unipar Carbocloro S.A. case, the proceeding examined alleged irregularities by its investor relations officer linked to the time gap between press reports of talks over the acquisition of Braskem S.A. assets on 7 August 2025 and the publication of the corresponding material fact on 8 August 2025, in potential breach of Articles 3 and 6 (sole paragraph) of CVM Resolution 44. In the MRV Engenharia e Participações S.A. case, the proceeding assessed the alleged failure to publish a material fact regarding projections disclosed at MRV Investor Day events (6 February 2023 and 15 March 2024) and the alleged failure to respond immediately to media reports on 11 January 2024 about a projection revision, in potential breach of Article 3(3) and Article 6 (sole paragraph) of CVM Resolution 44. In both matters, CVM’s Federal Specialized Attorney’s Office found no legal impediment, the Term of Commitment Committee recommended acceptance, and the CVM Board approved the settlements.
Brazil Securities Commission (CVM) 2026-04-15
Brazil Securities Commission accepts settlement agreements totaling BRL 1.78 million in two issuer disclosure investigations
The Brazil Securities Commission (CVM) approved two settlement agreements to close administrative proceedings, with payments of BRL 340,000 by Alexandre Jerussalmy and BRL 1,438,200 by Ricardo Paixão Pinto Rodrigues. The cases concern alleged failures to timely disclose and respond to material information in relation to Unipar Carbocloro S.A. and MRV Engenharia e Participações S.A., in potential breach of Articles 3 and 6 of CVM Resolution 44.