Dino gives 5 days for demonstrations on the CVM restructuring plan

Minister Flávio Dino, of the Federal Supreme Court, gave five days for political parties, civil society entities, the National Congress and the Presidency of the Republic to express their views on the emergency plan for restructuring the supervisory activity of the Securities and Exchange Commission.

After presenting the demonstrations, the minister will decide whether the plan is sufficient and meets the goals that were set when he saw a “lack of supervision” in the capital market and demanded “shock repressive action” from the CVM.

When asking for opinions, Dino highlighted the “urgency of restructuring regulatory and inspection systems”, including referring to the new stage of Operation Hidden Carbon, which investigated the use of Investment Funds in Non-Standardized Credit Rights and other mechanisms for laundering money from armed factions and organized crime.

The minister highlighted the CVM when addressing the need to restructure regulatory and inspection systems, but also cited the actions of bodies such as the Central Bank and COAF, which also “make up the ecosystem that protects the economic order and the popular economy”.

In compliance with Dino’s preliminary decision, the Union presented to the Supreme Court a plan structured on four fronts of action, with emergency measures to immediately expand the CVM’s operational capacity through “structuring initiatives aimed at permanently strengthening the supervisory, technological and sanctioning activities” of the Autarchy’s authority.

The document foresees the reduction of the procedural stock in the technical areas and in the CVM board, with specialized task forces, joint efforts to analyze terms of commitment, organization of priority agendas and use of criteria of criticality and prescriptive risk for the selection of processes. There is also a plan to take advantage of candidates already approved in public competitions, with the possible hiring of temporary employees for strategic activities and technical reinforcement of the collegiate.

The plan also mentions investments in computational infrastructure, integrated data platforms, artificial intelligence tools, automation of routines and training programs in data analysis, as well as measures to expand the capacity to obtain, integrate and process data from technical cooperation agreements signed with bodies such as the Central Bank, COAF, Federal Revenue, Federal Police, Public Ministries and self-regulatory entities.

In addition, measures are cited to strengthen preventive supervision of the funds industry, with the implementation of risk panels, audit and verification routines, risk-based supervisory classification and joint mapping of structures located in sensitive regulatory zones or institutional overlap.

The budget for the plan, according to the Union, is linked to the collection of the market inspection fee – according to the decision made by Dino. The implementation schedule of the measures was structured in successive cycles starting in 2026.