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CVM accepts proposal for a term of commitment with the CEO of Clear Sale SA

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This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here.

The Board of the Securities and Exchange Commission (CVM), in a meeting on 1/31/2023, analyzed proposals for the Term of Commitment of the following administrative processes (PA) :

  1. PA CVM 19957.004386/2022-71: Bernardo Carvalho Lustosa.
  2. PA CVM 19957.002627/2022-48: Charmant Empreendimento – Special Purpose Company (SPE) Ltda. and Osvaldo Ottan Soares de Souza.

Know the cases

1. Bernardo Carvalho Lustosa , as CEO of Clear Sale SA, presented a proposal for a term of commitment to close PA CVM 19957.004386/2022-71 , prior to the initiation of a sanctioning administrative proceeding (PAS).

The Specialized Federal Prosecutor for the Autarchy (PFE-CVM) concluded that there was no legal impediment to carrying out the agreement.

After negotiations with the Term of Commitment Committee (CTC), the bidder committed to pay the CVM R$ 400,329.60 , restated by the IPCA from 3/9/2022 until the actual payment date.

Therefore, the CTC understood that acceptance of the agreement was opportune and convenient .

The CVM Collegiate followed the decision of the CTC and accepted the Term of Commitment with Bernardo Carvalho Lustosa.

More information

PA CVM 19957.004386/2022-71 was introduced by the Superintendence of Relations with the Market and Intermediaries (SMI) to investigate alleged trading in possession of privileged information with shares (CLSA3), on 3/8 and 9/3/2022, before the disclosure of the financial statements for the fiscal year ending on 12/31/2021, made public on 3/24/2022 (possible breach, in theory, of article 13, paragraph 1, of CVM Resolution 44).

Access the term of commitment opinion .

2. Charmant Empreendimento – Sociedade de Propósito Específico (SPE) Ltda., in the capacity of developer, and Osvaldo Ottan Soares de Souza , in the capacity of director responsible for the developer, presented a joint proposal for a term of commitment for the closure of PA CVM 19957.002627/2022 -48 , prior to the initiation of sanctioning administrative proceedings (PAS).

The Specialized Federal Prosecutor for the Autarchy (PFE-CVM) concluded that there was no legal impediment to carrying out the agreement.

After negotiations with the Term of Commitment Committee (CTC), the proponents committed to pay CVM R$ 172,500 , as follows:

  • Charmant Empreendimento: BRL 115,000.00.
  • Osvaldo Ottan Soares de Souza: BRL 57,500.00.

Therefore, the CTC understood that acceptance of the agreement was opportune and convenient .

The CVM Collegiate followed the CTC’s decision and accepted the Term of Commitment with Charmant Empreendimento – Specific Purpose Society (SPE) Ltda. and Osvaldo Ottan Soares de Souza.

More information

PA CVM 19957.002627/2022-48 was introduced by the Securities Registry Superintendence (SRE) to investigate an alleged irregular public offer for the distribution of Collective Investment Agreements (CICs) for hotels in the NFS project, between January 2013 and March 2021 (possible violation, in theory, of article 2 of CVM Instruction 400 – in effect at the time, CVM Resolution 734 and Law 6,385).

Access the term of commitment opinion .

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Regulator Information

Abbreviation: CVM
Jurisdiction: Brazil

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