TCU to Audit CVM Budget Management After STF Grants Autarchy Revenue Control

Brazil's Federal Court of Accounts (TCU) will audit the Securities and Exchange Commission (CVM) after the Supreme Federal Court (STF) ruled that at least 70% of CVM's own revenue from oversight fees will be managed directly by the autarchy, rather than flowing to the National Treasury. This marks a shift in budgetary control, potentially increasing CVM's financial autonomy and operational capacity. The audit aims to assess the budgetary and financial management under the new arrangement, with implications for regulatory independence and fiscal oversight.