STXNEWS LATAM-Banco do Brasil seeks to settle BB Seguridade probe
Banco do Brasil SA proposed paying 400,000 reais ($175,500) in fines to securities regulator CVM for allegedly distributing advertising materials for the initial public offering of a subsidiary without prior authorization. In a statement, CVM agreed to study the proposal, which was made to settle allegations that Banco do Brasil breached publicity rules in the IPO of BB Seguridade Participações SA.
BB Seguridade is Banco do Brasil's pension, retirement and annuity subsidiary.
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