Lawyer was approved by the commission by 19 votes in favor and 4 against; name still needs to receive approval from the Senate plenary
The CAE (Economic Affairs Committee) of the Senate approved, this Wednesday (May 20, 2026), the appointment of the lawyer to assume the presidency of the CVM (Securities Commission). The score was 19 votes in favor and 4 counts. The process was being processed in the Legislature for just over 4 months, since the president (PT) in January.
The senators also approved the appointment of lawyer Igor Muniz for a vacancy on the authority’s board, with 19 votes in favor and 1 against. Both nominations were sent with an urgent request for analysis by the Senate plenary, which gives approval for the nominations.
If approved, Lobo will serve a buffer term until July 14, 2027, completing the remaining period of former president João Pedro Nascimento, who resigned in July 2025.
The hearing at the commission was marked by direct questions and an accelerated vote. Senators such as Eduardo Girão (Novo-CE) and rapporteur Eduardo Braga (MDB-AM) questioned the nominee about decisions taken during his period as interim president of the CVM, a position he has held since the post became vacant.
The focus of the questions was on judgments by the regulatory authority that benefited Banco Master and the Ambipar group. Lobo countered the criticism by stating that his decisions were strictly technical and denied political or business favors.
Despite approval by the commission, the names faced resistance behind the scenes in Brasília. Otto Lobo’s appointment caused divisions in the federal government, and there was direct opposition from the Ministry of Finance to Planalto’s choice.
In the financial market, the nomination was also received with suspicion due to the recent history of decisions and the political influence of the president of the Senate, Davi Alcolumbre (União-AP), who denies sponsorship.
