By Brazil Stock Guide – Brazilian President Luiz Inácio Lula da Silva has appointed Otto Lobo as chairman of the country’s securities regulator, the Comissão de Valores Mobiliários (CVM), according to a notice published on Wednesday (7) in an extraordinary edition of the federal gazette.
Lobo had been serving as interim head of the CVM since João Pedro Nascimento stepped down from the role in mid-2025, before completing his term. The formal nomination makes Lobo the permanent leader of the agency responsible for overseeing Brazil’s capital markets.
In the same decision, Lula also named lawyer Igor Muniz to the CVM’s board. The regulator operates under the supervision of the Finance Ministry and plays a central role in regulating publicly traded companies, investment funds and market intermediaries in Brazil.
Lobo’s confirmation drew attention in financial circles and within the economic team, as his name had faced resistance among some market participants and officials. Despite the reservations, the presidency moved forward with the appointment, bringing an end to months of uncertainty over the CVM’s leadership.
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