Government maintains nomination, rapporteur publishes opinion and unlocks CVM presidency
After the government signaled to parliamentarians the maintenance of Otto Lobo’s nomination for the presidency of the Securities and Exchange Commission (CVM), the rapporteur, senator Eduardo Braga (MDB-AM) published this Monday his opinion on the appointment.
With this, Lobo’s choice is unlocked, he can be questioned by the Senate’s Economic Affairs Committee (CAE) and have his name voted on by the House’s plenary.
Braga said in the report that, in the government’s message, there is a statement from the Ministry of Finance “that the nominee has moral integrity and an unblemished reputation, as well as having a professional profile or academic training compatible with the position or function for which he was appointed”.
“Thus, all formal requirements for the preparation of this nomination, hearing and appointment process have been met,” said Braga.
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the president of CAE, senator Renan Calheiros (MDB-AL), had stated that he did not intend to schedule the hearing without president Luiz Inácio Lula da Silva confirming it.
Lobo’s nomination was sent to the Senate in January and has not progressed since then. Appointed rapporteur two weeks ago, senator Eduardo Braga (MDB-AM) has been seeking more information about the nominee and does not rule out recommending the rejection of the name.
A lawyer working in the capital markets, Lobo joined the board of directors of the CVM and temporarily held the presidency of the authority until the end of 2025, after the departure of João Pedro Nascimento. Within the body, his passage was marked by decisions considered controversial by technicians and market agents, especially in cases involving corporate operations and the actions of large investors.
Without an explicit confirmation from Lula, the assessment among senators is that the nomination should remain on the “back burner”. Meanwhile, the CVM has remained under interim command since last year, waiting for a definition of the Planalto and a green light from the Senate to proceed with the hearing.
