Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM), accepted two settlement proposals on September 15, 2026, concluding enforcement actions against Rodrigo Fernandes Dalago da Cruz, vice president of retail operations at Pet Center Comércio e Participações S.A., and Rony Susskind, who faced allegations of market manipulation.
- Settlement amount (Dalago da Cruz): R$ 180,000 (~$36,000 USD)
- Settlement amount (Susskind): R$ 408,000 (~$81,600 USD)
- Total recoveries: R$ 588,000 (~$117,600 USD)
- Approval date: September 15, 2026
Dalago da Cruz reached a compromise agreement to resolve administrative sanctions proceeding CVM 19957.012282/2025-83, which investigated alleged irregularities in his sale of Pet Center shares ahead of the company’s 2024 financial disclosures. The CVM’s specialized federal prosecution office confirmed no legal impediment to the settlement. The Compromise Agreement Committee deliberated favorably after negotiations, and the CVM’s board approved the proposal.
Susskind settled administrative proceeding CVM 19957.010071/2025-14 before potential formal sanctions proceedings. He faced allegations of price manipulation in transactions involving real estate investment fund shares. The investigation was initiated by the CVM’s Market Supervision, Derivatives and Systemic Risk Superintendency. Following legal clearance from the federal prosecution office and committee negotiations, Susskind agreed to the R$ 408,000 settlement, which the CVM’s board accepted.
Both settlements represent typical enforcement resolutions in Brazil’s capital markets, allowing the regulator to resolve investigations without formal sanctions determinations while securing financial penalties and compliance commitments from investigated parties.
