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Also fined for price manipulation in BDRs and other market assets

The Brazilian Securities and Exchange Commission (CVM) judged, on 10/27/2020, the following administrative sanctioning processes:

1. PAS CVM SEI 19957.003406 / 2019-91 (RJ2019 / 2333): ICONIC Intermediação de Negócios e Serviços Ltda. and Jonathan Doering Darcie

2. PAS CVM SEI 19957.004600 / 2018-11 (RJ2018 / 3031): Mário Machado Pires

3. PAS CVM SEI 19957.004091 / 2019-08 (RJ2019 / 2631): Eduardo Nassutti Andriotti

* Director Flávia Perlingeiro did not participate in the judgment of the processes mentioned above.

RESULTS

1. PAS CVM SEI 19957.003406 / 2019-91 (RJ2019 / 2333) was set up by the Securities Registry Superintendence (SRE) to ascertain the liability of ICONIC Intermediação de Negócios e Serviços Ltda. and Jonathan Doering Darcie, company administrator, for carrying out a public offering of securities without obtaining registration with the CVM or without its waiver (breach of Article 19 of Law 6,385 / 76 and Article 2 of CVM Instruction 400, c / co article 19, § 5, I, of Law 6,385 / 76 and article 4 of CVM Instruction 400).

After analyzing the case and following the vote of the rapporteur, Director Gustavo Gonzalez, the CVM Board decided, unanimously, to condemn Iconic Intermediação de Negócios e Serviços Ltda. and Jonathan Doering Darcie to a fine of R $ 387,934.93, each.

More information

Access the report it’s the vote Director Gustavo Gonzalez.


2. PAS CVM SEI 19957.004600 / 2018-11 (RJ2018 / 3031) was initiated by the Superintendence of Relations with the Market and Intermediaries (SMI) to ascertain the responsibility of Mário Machado Pires for the manipulation of prices of stock deposit certificates (BDRs) issued by Dufry AG (trading code DAGB33) in / 1/2015 to 11/24/2016 (violation of item II, “b”, with item I, of CVM Instruction 08).

After analyzing the case and following the vote of the rapporteur, Director Gustavo Gonzalez, the CVM Board decided, unanimously, to condemn Mário Machado Pires to a fine of R $ 450,000.00.

CVM’s President, Marcelo Barbosa, followed the vote of the Reporting Director and presented a vote on the methodology used by the prosecution to identify the practice of price manipulation and its implications in the proposed penalty.

More information

Access the report it’s the vote Director Gustavo Gonzalez. Also access the voting President Marcelo Barbosa.


3. PAS CVM SEI 19957.004091 / 2019-08 was set up by the Superintendence of Market Relations and Intermediaries (SMI) to ascertain the responsibility of Eduardo Nassutti Andriotti for the practice of manipulating the prices of several assets in the securities market by placing artificial offers in the trading book (layering) , between 1/8/2013 and 3/22/2018 (violation of item II, “b”, with item I, of CVM Instruction 08).

After analyzing the case and following the vote of the rapporteur, Director Gustavo Gonzalez, the CVM Board decided, unanimously, to convict Eduardo Nassutti Andriotti to the fine of R $ 1,404,657.38.

More information

Access the report it’s the votThe Director Gustavo Gonzalez.

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Regulator Information

Abbreviation: CVM
Jurisdiction: Brazil

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