CVM Administrative Sanctioning Proceedings
Defense in CVM sanctioning proceedings and analysis of applicable settlement alternatives.
The CVM's administrative sanctioning proceeding investigates possible violations within the securities market. The defense must start from the facts alleged, the rules in force during the relevant period and the duties of each person accused. The duties of managers, officers, issuers and intermediaries are not identical. CVM Resolution 45 governs the sanctioning procedure, including stages and instruments that require attention to the admissibility of submissions and the organization of evidence.
The work covers the review of notices, preparation of the defense, follow-up of the proceeding and applicable appeals. The evaluation of a commitment term (termo de compromisso) depends on the requirements and circumstances of the case, and does not represent an automatic right to its execution. Internal documents, records of decisions and communications may be decisive in explaining the conduct under review. The handling of a case before the CVM must be coordinated with any judicial repercussions or proceedings before other authorities, preserving the distinctions in competence and liability.
Our work
- Defenses and submissions in sanctioning proceedings
- Organization of evidence and analysis of the charges
- Evaluation of commitment terms and appeals
Does proposing a commitment term automatically end the sanctioning proceeding?
No. The proposal is submitted for evaluation by the CVM according to the applicable requirements. Submitting it does not guarantee acceptance nor does it excuse compliance with ongoing procedural obligations.
Editorial review: