The Brazil Securities Commission ruled on two administrative sanctioning cases, one involving Fertilizantes Heringer S.A. and another involving Ammo Varejo S.A. In the Fertilizantes Heringer case, the commission warned Julio Enrique Varela Gubitosi over incomplete and inconsistent disclosure on contracts with related parties and for rejecting shareholder registration on the digital platform used for the company’s April 28, 2023 ordinary general meeting, while acquitting Daniil Sergunin. In the Ammo Varejo case, it fined investor relations officer Luiz Conrado dos Santos Carvalho Sundfeld BRL 40,000 for the late filing of the 2023 financial statements and warned Josué Christiano Gomes da Silva and João Gustavo Rebello de Paula, in their roles as chairman and board member, for failing to act to hold a shareholders’ meeting.
Brazil Securities Commission (CVM)2026-07-15
Brazil Securities Commission rules on Fertilizantes Heringer and Ammo Varejo cases, issues warnings and a BRL 40000 fine
The Brazil Securities Commission issued sanctions in two enforcement cases involving Fertilizantes Heringer and Ammo Varejo. It warned Julio Gubitosi over deficient related-party disclosure and shareholder registration issues, fined Luiz Sundfeld BRL 40,000 for late 2023 financial statements at Ammo Varejo, and warned two board members over failure to ensure a shareholders’ meeting. Several other defendants were acquitted.