The Securities and Exchange Commission of Brazil (CVM) has announced a new Administrative Agreement in a Supervisory Process related to retail company Americanas S.A.
New Supervisory Agreement Executed
The Supervisory Process Administrative Agreement Committee (CAS) of the CVM has signed a new agreement concerning facts linked to the relevant fact disclosed by Americanas S.A. on 11 January 2023.
This marks the third administrative agreement signed by the regulator in connection with the company, following earlier agreements executed on 29 September 2023 and 15 October 2025. The CVM noted that the information and materials gathered through this third agreement will support its broader investigation into the company, which has been underway since 2023.
Framework for CVM Supervisory Agreements
Under CVM regulations, supervisory agreements allow individuals or corporate entities to seek the extinction of punitive action or a reduction in potential penalties in exchange for full and ongoing cooperation with regulatory inquiries.
To qualify, applicants must acknowledge regulatory or legal infractions, identify other participants involved in the conduct, and provide supporting documentation and evidence. All submitted proposals are reviewed by the CAS, which was formally established under Ordinance CVM/PTE/Nº 109 on 17 June 2019.
Frequently Asked Questions
What is a CVM Supervisory Administrative Agreement?
It is an agreement where natural or legal persons confess to regulatory infractions and provide evidence and participant details in exchange for reduced penalties or immunity from punitive actions.
When did the CVM sign previous agreements regarding Americanas S.A.?
The CVM executed earlier supervisory agreements related to Americanas S.A. on 29 September 2023 and 15 October 2025.
