Brazil’s securities watchdog agrees to ‘plea bargain’ on Americanas’ probe

People walk in front of a Lojas Americanas store in Brasilia, Brazil January 12, 2023. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsSept 29 (Reuters) – Brazil’s securities watchdog CVM said on Friday it has approved a mechanism similar to a plea bargain for cases related to bankrupt Brazilian retailer Americanas (AMER3.SA), in the midst of a billion-dollar financial fraud probe.CVM reached a so-called “administrative agreement in supervision process,” it said in a statement, enabling the watchdog to reduce or erase punitive action in exchange for effective cooperation in the ongoing investigations.The content obtained through the agreement would also facilitate …
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