UPDATE 1-Brazil Petrobras securities probe may win judgments this year
* Cases against executives may be judged this year
* PricewaterhouseCoopers, KPMG facing probe -CVM chief
* Brazil regulator has 10 open cases involving Petrobras (Adds Coutinho and Barbassa declining comment in last paragraph)
By Juliana Schincariol
RIO DE JANEIRO, Jan 18 (Reuters) - Brazil's securities regulator CVM is investigating 10 complaints that state-led oil company Petrobras, its auditors, and former company executives misled investors, several of which could result in judgments this year, the CVM president said.
The cases, which carry administrative but not criminal penalties, come after shares in Petroleo Brasileiro SA , as Petrobras is formally known, lost two-thirds of their value in three years. CVM punishments include fines or bans on corporate or market activity.
Two complaints have moved to the sanctions phase, CVM President Leonardo Pereira told Reuters. The decisions, when they come, could influence investigations and lawsuits in the United States, where Petrobras may face record fines of $1.6 billion or more.
One case is against former board members, including ex-chairman Guido Mantega, a former finance minister; Luciano Coutinho, chief executive of Brazil's state-development bank BNDES; and Miriam Belchior, planning minister and CEO of Caixa Economica Federal.
The board allegedly misled investors by approving a 2014-2018 investment plan with debt-reduction targets incompatible with their approval of a fuel-pricing policy. That policy saddled its refining unit with losses to pay fuel subsidies in Brazil. Continuación...