Borges & Borges Factoring Fomento Mercantil Ltda., Raul Borges, Mariana Penteado Borges, e Orandi Alves Penteado,

The Plenary of the Council for Control of Financial Activities (Coaf) decided to impose administrative penalties on Borges & Borges Factoring Fomento Mercantil Ltda. and Mariana Penteado Borges for non-communication of absence of operations or proposals passible to be communicated to Coaf from 2020 to 2022, resulting in a fine of R$53,400 and R$13,350 respectively. The fines were imposed due to the company's failure to report its lack of transactions or proposals to Coaf during the specified period, constituting an infraction. The decision also considered the company's sector, size, and lack of proactive measures to rectify the situation.