✓ verbatim from the press ? no verbatim passage
STF Justice Flávio Dino ordered on Friday (12th) that the federal government make adjustments to the emergency restructuring plan for the Securities and Exchange Commission (CVM), approving only part of the measures proposed by the Union. The decision responds to ADI 7.791, filed by Partido Novo against provisions of Law 14.317/2022 that modified the calculation of capital markets supervision fees. ?
Press quotes (1)
"Na ação, o Partido Novo questiona dispositivos da Lei 14.317/2022 que modificaram a forma de cálculo da taxa de fiscalização, sustentando que o tributo estaria sendo utilizado com o objetivo arrecadatório, desvirtuando sua natureza em prejuízo dos particulares fiscalizados e em benefício do Tesouro Nacional."
Dino granted a five-business-day deadline for the Union to present new goals to recover CVM's regulatory capacity, and ten days to strengthen the authority's board and present a schedule to allocate servers from the National Unified Public Contest (CPNU). The justice also ordered an immediate task force to eliminate procedural "bottlenecks," with a 30-calendar-day deadline. ✓
Press quotes (1)
"Em despacho proferido nesta sexta-feira, 12, Dino deu prazo de cinco dias úteis para que a União apresente novas metas para recuperar a capacidade regulatória e fiscalizatória da CVM."
CVM had sent the Ministry of Finance on May 26 a document with 22 specific measures for the emergency plan, including technical area task forces, use of federal inspectors, and temporary hiring. The authority's proposal envisioned 16 commissioned positions, but the Union's plan contemplated only eight, generating disagreements. ✓
Press quotes (1)
"O Colegiado da CVM aprovou, em Reunião realizada em 26/5/2026, documento com as medidas que a Autarquia considera necessárias para compor o Plano Emergencial de Reestruturação da Atividade Fiscalizatória da CVM e enviou ao Ministério da Fazenda como insumo à manifestação a ser apresentada pela União ao Supremo Tribunal Federal (STF). [...] São 22 medidas propostas para o Plano Emergencial"
The original May decision determined that CVM should receive at least 70% of the Tax on Securities Markets Supervision (TFMTVM) revenue, reversing what Dino classified as an "unequivocal institutional atrophy and budgetary asphyxiation" of the authority. The justice reiterated that the order has "immediate effectiveness" and is not a "recommendation," but a "judicial order to be fully complied with." ?
Press quotes (1)
"Na decisão, Dino também determinou que a União apresente, em até 20 dias, um plano de reestruturação da atividade de fiscalização do setor para 2026, com medidas práticas como mutirões, fiscalizações extraordinárias, concessão de gratificações temporárias e alocação de servidores, entre outras iniciativas."
Dino approved only part of the emergency plan presented by the Union and ordered adjustments
The original decision determined allocation of 70% of TFMTVM to CVM with immediate effectiveness
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
CVM diverged from the Union's plan regarding the number of commissioned positions: the authority's proposal envisioned 16, the Union's emergency plan provided for only 8
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What is the specific position of AGU or PGR regarding the action filed by Partido Novo?
Why it's still unknown: The manifestations of the Attorney General's Office or the General Attorney's Office were not detailed in available sources
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What jurisprudential precedents did the STF use to justify the decision?
Why it's still unknown: The complete text of the ruling and precedents cited by the rapporteur are not available in consulted sources
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What is the specific timeline for the 22 measures proposed by CVM?
Why it's still unknown: CVM's document mentions 22 measures but does not detail individual implementation deadlines for each one