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The measure aims to prepare the regulatory agency for a new cycle of growth and advancement in the regulation of digital finance

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Published on

08/06/2026 20:20

The President of the Securities and Exchange Commission (CVM), Otto Eduardo Fonseca de Albuquerque Lobo, promoted changes in the holdership of six CVM superintendencies on 08.06.2026, as his first act in charge of the regulatory agency. There was also an alteration in the General Superintendency of the Agency.

The measure marks the beginning of a management that proposes to prepare the CVM for an unprecedented cycle of expansion of its institutional and technological capabilities.

The changes focus on areas that are not directly responsible for the supervision of the securities market, reaching the Sectional Superintendency for Institutional Development and Modernization, the Administrative-Financial Superintendency, the Intelligence Development Superintendency, the Planning and Innovation Superintendency, the Information Technology Superintendency, and the area of Economic Analysis, Risk Management, and Integrity.

"I am assuming the presidency of the CVM at a singular moment for the Brazilian capital market, and this imposes responsibilities that cannot be postponed. For the first time in the country's history, long-term financing is predominantly dependent on the capital market. This is the result of decades of serious regulatory construction. Preserving and amplifying this achievement requires that the CVM be up to what the market and investors expect of it." Otto Lobo, CVM President.

New holders will come from within the CVM

The renewal, according to the president, is the result of a careful analysis, which pointed to the possibility of better utilization of the CVM staff, composed of serious and technical professionals, with enormous potential and experience in the market regulator. The aim is to assemble the ideal team to deal with the scale and urgency of the agenda to be executed from now on.

"I carefully analyzed the functioning of the agency and concluded that certain strategic areas need new perspectives to unlock the potential that exists here inside. The CVM has a qualified and committed technical body. What I am doing is reorganizing leadership so that this potential converts into concrete results for the market and for investors. More than a power, I understand that at this moment it is my duty to the regulated and to Brazil. The Securities and Exchange Commission immensely thanks each of the superintendents who are leaving their positions on this date for the services rendered to the agency and to the country, noting that they will continue to contribute to the advancement of the Brazilian capital market." Otto Lobo, CVM President.

CVM superintendents hold positions of trust of great strategic relevance, under direct indication by the president of the agency (as per art. 7, item VI, of the Internal Regulations), and are responsible for coordinating areas subordinate to them, whether they are focused on the administration of the agency or on carrying out its activities of supervision, oversight, and regulation of the capital market.

The servers who until today occupied the replaced positions will remain in the permanent staff of the agency.

The challenge ahead: technology, tokenization, and supervision

The renewal of technical leadership is, for Otto Lobo, the first step of a more ambitious agenda. The main challenge that the new management proposes to face is the digital transformation of the capital market – and the need for the CVM to be equipped to supervise it accordingly.

"The market is changing dramatically and rapidly. Tokenization and artificial intelligence are reconfiguring the way assets are issued, traded, and custodied. The CVM needs to regulate two markets in parallel (the traditional and the tokenized) without stopping either of them. And for that, we need to invest heavily in technology and in people with the right profile." , states Lobo.

The investments in technology foreseen for the coming months are based on a significantly more robust budgetary perspective than the one the agency has historically had at its disposal. The destination of these resources is already defined: people, infrastructure, systems, and training.

These resources will be applied, prioritarily, in the construction of a market supervision infrastructure capable of monitoring simultaneously the traditional environment and the on-chain layer of digital assets – with market surveillance tools, blockchain analysis, and transaction risk tracking driven by artificial intelligence. "AI-based supervision, capable of cross-referencing on-chain and off-chain data and detecting manipulation in tokenized markets in real time, has ceased to be an aspiration: it is the standard we will pursue." , said the president.

On the regulatory agenda, the CVM will initiate within the next one hundred days a process of public discussion of the pillars of the tokenization regulatory framework, with space for contributions from the market, investors, and society. The objective is to put Brazil at the global regulatory vanguard of the topic, attracting investments with more security, transparency, and efficiency to the markets.

"We have fifty years of a history that fills us with pride and gives us maturity to face the future. We have the financial fuel to invest as we have never invested before. And now we have the team to execute. There is no reason not to take advantage of this moment. We are heading towards the next five decades of the CVM!" Otto Lobo, CVM President.

The names of the new holders of the superintendencies subject to the changes will be released shortly.

Category

Financial System and Market