Brazil President Lula nominates Antonio Carlos Berwanger to CVM board

President Luiz Inácio Lula da Silva sent a formal nomination to the Senate for Antonio Carlos Berwanger, a career civil servant who has served at the Comissão de Valores Mobiliários (CVM) since 2005. The nomination, published in Message 659 of the Official Gazette on 4 April, seeks to fill the vacant director seat left by Otto Lobo, who now chairs the regulator.

Berwanger, currently the CVM’s Superintendency of Market Development, must first be reviewed by the Senate’s Committee on Economic Affairs (CAE) and then receive a secret ballot vote in the full Senate. If approved, he will join the CVM’s five‑member board, which includes the president of the agency and four directors. The appointment follows a request from CVM staff for a career official to ensure institutional continuity and comes as the regulator prepares to use more than R$1 billion annually from its supervision fee revenue to strengthen supervision and modernize its operations.