On Aug. 20, CVM issued fines for poor practices in pension funds.
- Sanctions regarding deals on behalf of State Water, Sewage Company pension fund by Bovespa Index (IND) futures contracts, Dollar (DOL), 1-Day Interest Rate (DI1).
Allegations
- Unfair practices regarding investments to the detriment of pension fund portfolio.
Sanctions
- Several defendants received fines totally over R $183 mn, two directors impeded.