CVM takes testimony from executives in the Americanas case – 03/18/2023 – Market
The testimony given by the former president of Americanas, Miguel Gutierrez, this Thursday (16) at the headquarters of the CVM (Securities and Exchange Commission), was just one of the stages of the investigation conducted by the autarchy.
According to a statement released this Friday (17th) by the CVM, the agency held a hearing and took the depositions of other former executives in an investigation related to Americanas, as part of the “task force set up to investigate, investigate and identify potential irregularities involving the publicly-held company.”
“The CVM reiterates that, in the event that infractions are formally characterized, each of those responsible will be duly held responsible for the application and rigor of the law and to the extent applicable to it. Within the scope of its sphere of competence, the CVM will not tolerate offenses that threaten the health and proper functioning of the capital market,” he said.
The autarchy informed that it had also opened two more processes to analyze possible failures of information passed by the company. One of them concerns proposals for capitalization and renegotiation of debts with creditors and the evaluation of the sale of assets, according to news published in the media.
Another lawsuit analyzes the receipt, by the former president of the company, Sergio Rial, of remuneration paid by Americanas during the period between the announcement of his choice as CEO, in August 2022, and his effective investiture in the position, in January 2023. BRL 600,000 was paid for the consulting work provided by Rial in the four months before he took over as CEO of the retailer.
“I clarify that I am available to provide any clarification to all authorities with the most absolute tranquility and I affirm, categorically, that the contract in question signed with Americanas was 100% regular, as well as all the work that I developed in the four months of its terms that preceded my tenure as CEO, on January 2nd,” said Rial to Sheetthrough its press office.
According to the executive, information about the contract should be gathered from those responsible for investor relations at the time of the signing of the agreement, “which aimed at the transition of a CEO who led Americanas for 20 years, Mr. Miguel Gutiérrez”, stated.
At this time, CVM’s technical areas are evaluating the content of documents received and the answers sent by the company to the questions raised by the autarchy.
According to the CVM, its role is “to guarantee the efficient functioning of the capital market and the preservation of an environment conducive, safe and adhering to constitutional principles for all market agents, ensuring the protection of investors.”
The task force created by the autarchy involves the departments for Relations with Companies (SEP), Relations with the Market and Intermediaries (SMI), Accounting Standards and Auditing (SNC), Sanctioning Processes (SPS), Protection and Guidance for Investors (SOI), Securities Registry (SRE) and Securitization (SSE).
“The CVM is adopting all appropriate measures for the timely, adequate and careful clarification of all acts, facts and events in relation to the above case”, he informed. According to the autarchy, the progress of the procedures, as well as other appropriate actions, is being monitored by its Risk Management Committee (CGR).
Information on administrative processes pending at the CVM can now be searched on the autarchy’s website, based on the company’s name. It is possible to consult the company’s responses to the CVM’s questions by accessing the information disclosed by the company itself, through the IPE System, also available on the website.
According to the CVM, the result of the survey may not include preliminary findings, investigations or processes that proceed in secrecy.