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Overview
- Flávio Dino scheduled a Supreme Court hearing for May 4 in a decision published Monday to examine the CVM’s capacity to supervise the market as criminal groups use regulated finance.
- The case arises from a suit by the party Novo, which argues a 2022 law swelled CVM fee collections to about R$2.4 billion in 2022–2024 while only R$670 million reached the agency’s budget.
- Dino invited the heads of the CVM, the Central Bank, the financial intelligence unit Coaf, and the Federal Police to testify at the session.
- João Accioly, the CVM’s interim chief, said Monday the regulator is under attack and accused the Central Bank of trying to look better as he defended the agency’s staff.
- The crisis followed the Central Bank’s extrajudicial liquidation of Banco Master in November, with probes describing fraud that used investment funds, fintechs and shell firms, prompting a CVM working group and plans to tighten oversight.