CVM resumes trial of sanctioning process regarding disclosure of information by IRB on 6/9
The Securities and Exchange Commission resumes on Tuesday, June 9, the trial session of an administrative sanctioning process related to the disclosure of information by IRB - BRASIL RESSEGUROS S.A. The case involves the investigation of possible responsibility of Fernando Passos and José Carlos Cardoso, and the session takes place from 3:00 p.m. in Rio de Janeiro.
Highlights
- The Securities and Exchange Commission resumes on 6/9 the trial of PAS 19957.003612/2020-35 involving IRB - BRASIL RESSEGUROS S.A.
- The process investigates the responsibilities of Fernando Passos and José Carlos Cardoso in the disclosure of material information by the company.
- The in-person session, open to the public, takes place at the CVM auditorium in Rio de Janeiro, highlighting the relevance of the case for the Brazilian capital markets.
This article was translated from the original. Read the original version by our correspondent here.
Resumption of session on the IRB case
As reported by the Securities and Exchange Commission, PAS 19957.003612/2020-35 is once again under judgment after having started on 12/29/2025 and suspended on the same date. The interruption occurred after a request for review was submitted by the then Acting Director, the Superintendent of Strategic Risk Supervision, Luís Felipe Lobianco.The process was initiated to investigate the possible responsibility of Fernando Passos and José Carlos Cardoso for the disclosure of information by IRB - BRASIL RESSEGUROS S.A. and its administrators. The resumption is scheduled for 3:00 p.m. on Tuesday, 6/9.
Public session in Rio de Janeiro
The session is open to the public and takes place in person in the auditorium at the CVM headquarters, at Rua Sete de Setembro, 111, 34th floor, in downtown Rio de Janeiro.The trial keeps on the agenda a case from the capital markets sector related to disclosure duties, a topic closely followed by issuers, investors, and participants in the regulated market in Brazil.
In our previous publication on the fines imposed by the Competition Authority on Meo, NOS, Vodafone, and Accenture, we detailed the accusation of collusion to introduce 30 seconds of advertising before automatic TV recordings, allegedly harming competition and consumers. We also explained the companies’ reactions, including the denial of irregularities and the consideration of possible appeals, as well as the context of the case initiated in 2020 and formalized with a statement of offense in 2021.
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