The Brazil Securities Commission's board decided on 23 June 2026 to accept two settlement agreements and reject three others across four administrative and sanctioning cases. Approved settlements cover Nova Futura CTVM Ltda. and its director João da Silva Ferreira Neto, who agreed to pay BRL 378,000, and Braskem executives Felipe Montoro Jens and Roberto Prisco Paraiso Ramos, who agreed to pay BRL 765,000. Rejected proposals were submitted by Marcelo da Silva Nunes, Daniel Polidoro Mameri, Cleber Polaro Leão and Fabiana Franco. The Nova Futura case concerned alleged failures to meet duties of diligence in preserving market integrity and regular market functioning, while the rejected proposals from Mameri and Leão related to alleged fraudulent securities market operations between 2 January 2020 and 5 November 2021. The Braskem case, which was settled before any sanctioning proceeding was opened, involved alleged late disclosure of a material fact on talks with Unipar Carbocloro S.A. over a potential transaction involving United States assets and statements made during a 7 August 2025 earnings call. The rejected proposals were turned down because of the alleged seriousness of the conduct, limited procedural economy where other respondents remained in the case, and in some matters additional case-specific concerns. In the Americanas case against Marcelo da Silva Nunes, the allegations involve use of undisclosed material information to gain an advantage through share sales. In the REAG case against Fabiana Franco, the allegations concern failure to prepare full annual financial statements for 2024 and first and second quarter 2025 quarterly reports, and the committee also cited other ongoing CVM matters involving the REAG group that it said could not be separated from the broader factual context at this stage.

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