May 13, 2020 / 7:49 PM / 13 days ago

Brazil's securities industry watchdog CVM fines JBS executives

SAO PAULO, May 13 (Reuters) - Brazilian securities industry watchdog CVM has fined two JBS SA executives for failing to disclose market transactions between JBS and related parties, the regulator said in a statement on Wednesday.

Jeremiah O’Callaghan and Guilherme Cavalcanti, former and current JBS investment relations directors, agreed to pay 741,000 reais ($124,846) for failing to disclose JBS transactions with other companies owned by the JBS controlling shareholders Batista family, such as hygiene products manufacturer Flora and bank Original.

$1 = 5.9353 reais Reporting by Tatiana Bautzer; Editing by Aurora Ellis

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