Overview
- Senate President Davi Alcolumbre sent Otto Lobo’s nomination to the Economic Affairs Committee, which will stage the confirmation hearing for the CVM, Brazil’s securities regulator.
- Committee chair Renan Calheiros will set the hearing date, and members expect no session before mid-May because of holidays and a crowded agenda that includes the central bank chief’s testimony.
- Brazil’s audit court TCU denied a petition from its prosecutors that sought to pause the Senate review over alleged favorable decisions tied to Banco Master, citing lack of jurisdiction and evidence.
- The CVM is currently led by interim director João Accioly after several superintendents resigned following a report that flagged failures in the regulator’s handling of the Banco Master case.
- Lobo joined the CVM board in 2022 under Jair Bolsonaro, served as interim president until December, and has told allies he would recuse himself from Master-related cases if confirmed.