Brazil CVM chief pledges tech-driven overhaul of market oversight

Otto Lobo, president of Brazil's securities regulator CVM, announced a shift to a technology-based supervision model to detect irregularities, describing the change as a 'forceps delivery' to signal urgency. The statement, made at a ceremony introducing new director Igor Muniz, indicates a strategic pivot in regulatory approach but lacks specifics on implementation or timeline. This matters as it could alter market oversight dynamics in Brazil, potentially affecting compliance costs and investor confidence.