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CVM applies a total fine of R $ 12 million to Unick, its partners and legal director for public issue and distribution of securities without authorization from the Autarchy

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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.

Also judged process involving failures in the preparation and delivery of periodic information from Inncorp SA

The Securities and Exchange Commission (CVM) judged, on 12/8/2020, the following administrative sanctioning processes:

1. PAS CVM 19957.000238 / 2019-82 (RJ2019 / 3052): Unick Sociedade de Investimentos Ltda., Leidimar Bernardo Lopes, Alberi Pinheiro Lopes and Fernando Marques Lusvarghi

2. PAS CVM 19957.005263 / 2019-52 (RJ2019 / 3348): Dimitri Alves Dutra Bittencourt, Joedir Dilson do Lago, Luiz Marcelo Pimpão Ferraz, Sílvio Omar Leal dos Santos, Fabio de Oliveira Moser, Renê Sanda and Carlos Eduardo Marun Bark (administrators of Inncorp SA)

CVM’s Director, Henrique Machado, on vacation, did not participate in the judgment of the above cases.

RESULTS

1. O PAS CVM 19957.000238 / 2019-82 (RJ2019 / 3052) was initiated by the Superintendence of Market Relations and Intermediaries (SMI) to determine the responsibility of Unick Sociedade de Investimentos Ltda., Leidimar Bernardo Lopes (partner), Alberi Pinheiro Lopes (partner) and Fernando Marques Lusvarghi (legal director) for the alleged public issuance and distribution of securities without CVM authorization (violation of articles 16, I, and 19, caput, of Law 6,385 / 76).

After analyzing the case and following the vote of the Rapporteur of the process, the President of the CVM, Marcelo Barbosa, the Collegiate of the CVM decided, unanimously, for the condemnation of Unick Sociedade de Investimentos Ltda., Leidimar Bernardo Lopes, Alberi Pinheiro Lopes and Fernando Marques Lusvarghi à:

  • Fine of R $ 1,500,000.00, each, for the irregular distribution of securities without CVM authorization (breach of article 16, I, of Law 6,385 / 76).
  • Fine of R $ 1,500,000.00, each, for the irregular public offering of securities without authorization from the CVM (breach of article 19, caput, of Law 6,385 / 76).

More information

Access the report it’s the vote the rapporteur of the process, the President of the CVM, Marcelo Barbosa.


two. PAS CVM 19957.005263 / 2019-52 (RJ2019 / 3348) was initiated by the Superintendence of Relations with Companies (SEP) to determine the responsibility of Dimitri Alves Dutra Bittencourt, Joedir Dilson do Lago, Luiz Marcelo Pimpão Ferraz, Sílvio Omar Leal dos Santos, Fabio de Oliveira Moser, Renê Sanda and Carlos Eduardo Marun Bark, all managers of Inncorp SA, by:

  • non-timely preparation and non-delivery of financial statements (violation of article 176, of Law 6,404 / 76, article 21, III, with article 25, paragraph 2, of CVM Instruction 480).
  • failure to call ordinary general meetings (violation of art. 132, with art. 142, IV, of Law 6,404 / 76).
  • non-compliance with the duty to send or send CVM late periodic information (violation of art. 21, V, with art. 29, caput, II, and §1; art. 21, I, with art. 23, sole paragraph; article 21, II, with article 24, paragraph 1, all of CVM Instruction 480).

After analyzing the case and following the vote of the Rapporteur of the process, the President of the CVM, Marcelo Barbosa, the CVM Collegiate decided, unanimously:

  • For the condemnation of Dimitri Alves Dutra Bittencourt (as director of investor relations at Inncorp SA) to:

a) Fine of R $ 48,000.00, for not preparing and delivering the financial statements in a timely manner for the fiscal years ended in 2017 and 2018 (breach of art. 21, III, with art. 25, paragraph 2, of CVM Instruction 480 and art. 176 of Law 6,404 / 76).

b) Fine of R $ 48,000.00, for not preparing and delivering the registration form for the 2018 and 2019 fiscal years on time (violation of art. 21, I, with art. 23, sole paragraph, of CVM Instruction 480).

c) Fine of R $ 48,000.00, for not preparing and delivering the reference forms for the 2018 and 2019 fiscal years in a timely manner (violation of art. 21, II, with art. 24, § 1, of CVM Instruction 480).

d) Fine of R $ 48,000.00, for not preparing and delivering on time the quarterly information forms for the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of art. 21, V, with art. 29, caput, II and §1, of CVM Instruction 480).

  • For the sentencing of Joedir Dilson do Lago to:

a) as CEO of Inncorp SA: Fine of R $ 40,000.00, for not timely preparing the financial statements for the fiscal years ended in 2017 and 2018 (breach of article 25, paragraph 2, of CVM Instruction 480 and article 176 of Law 6,404 / 76).

b) as CEO of Inncorp SA: Fine of R $ 40,000.00, due to the lack of timely preparation of quarterly information forms for the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of article 29, caput, II and §1, of CVM Instruction 480).

c) as a member of the Company’s board of directors: Fine of R $ 28,000.00, for failing to take the necessary steps to call the annual general meetings for the fiscal years ended in 2017 and 2018 (breach of art. 142, IV, with art. 132 of Law 6.404 / 76).

  • For the acquittal of Joedir Dilson do Lago (as CEO of Inncorp SA) of the accusations of: a) failing to timely deliver to the CVM the financial statements for the fiscal years ended in 2017 and 2018 (breach of article 21, III, of CVM Instruction 480); and b) failing to deliver on a timely basis to the CVM the quarterly information forms referring to the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of article 21, V, of CVM Instruction 480).
  • For the condemnation of Luiz Marcelo Pimpão Ferraz (as Chief Operating Officer of Inncorp SA) to:

a) Fine of R $ 40,000.00, for not timely preparing the financial statements for the fiscal years ended in 2017 and 2018 (breach of article 25, paragraph 2, of CVM Instruction 480 and article 176 of Law 6,404 / 76).

b) Fine of R $ 40,000.00, due to the lack of timely preparation of the quarterly information forms for the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of article 29, caput, II and §1, of CVM Instruction 480).

  • For the acquittal of Luiz Marcelo Pimpão Ferraz (as Chief Operating Officer of Inncorp SA) of the charges of: a) failing to timely deliver to the CVM the financial statements for the fiscal years ended in 2017 and 2018 (breach of article 21, III, of CVM Instruction 480); and b) failing to deliver on a timely basis to the CVM the quarterly information forms referring to the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of article 21, V, of CVM Instruction 480).
  • For the sentencing of Silvio Omar Leal dos Santos (as director of market relations for Inncorp SA) to:

a) Fine of R $ 40,000.00, for not timely preparing the financial statements for the fiscal years ended in 2017 and 2018 (breach of article 25, paragraph 2, of CVM Instruction 480 and article 176 of Law 6,404 / 76).

b) Fine of R $ 40,000.00, due to the lack of timely preparation of the quarterly information forms for the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of article 29, caput, II and §1, of CVM Instruction 480).

  • For the acquittal of Silvio Omar Leal dos Santos (as director of market relations for Inncorp SA) of the accusations of: a) failing to timely deliver to the CVM the financial statements for the fiscal years ended in 2017 and 2018 (breach of article 21, III, of CVM Instruction 480); and b) failing to deliver on a timely basis to the CVM the quarterly information forms referring to the 1st, 2nd and 3rd quarters of 2018 and the 1st quarter of 2019 (breach of article 21, V, of CVM Instruction 480).
  • For the condemnation of Fabio de Oliveira Moser, Renê Sanda and Carlos Eduardo Marun Bark (as members of the board of directors of Inncorp SA): the fine of R $ 28,000.00, each, for not adopting the necessary measures to convene the ordinary general meetings related to the fiscal years ended in 2017 and 2018 (breach of art. 142, IV, with art. 132 of Law 6.404 / 76).

More information

Access the report it’s the vote the rapporteur of the process, the President of the CVM, Marcelo Barbosa.

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Regulator Information

Abbreviation: CVM
Jurisdiction: Brazil

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