Brazil's Supreme Court has approved a rescue plan for the CVM, the market regulator it called paralysed, forcing more funding and faster enforcement.
Key Facts
—The ruling. A Supreme Court justice approved a rescue plan for the CVM, Brazil’s market regulator, on July 2.
—The diagnosis. The court described the agency as paralysed after more than a decade of underfunding.
—The money. Seventy percent of the fees the CVM collects must now be spent on the CVM itself.
—The gap. The fee raised about R$3.17bn ($606m) over three years, but only R$845m ($162m) reached the agency.
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