SAO PAULO (Reuters) - Brazil's securities regulator CVM on Tuesday fined one former CEO of Americanas and cleared another over accusations they failed to properly report the retailer's $4 billion accounting scandal, which came to light in early 2023.

The regulator imposed a 340,000 reais ($56,236) fine on Joao Guerra, who served as the company's chief executive from Jan. 11 to Feb. 15, 2023. He was also the firm's investor relations director for part of that period.

CVM said he did not publicly disclose the details of a conference call between Americanas and investors over the accounting irregularities as required.

Guerra's lawyer argued that disclosure was sufficient because Americanas released a recording of a conference call about the problems and published a summary of its content.

Sergio Rial was CEO from Jan. 2 to 11, 2023, when he resigned after uncovering the accounting issues. He was cleared by CVM of similar accusations.

The ruling can be appealed.

($1 = 6.0460 reais)

(Reporting by Patricia Vilas Boas in Sao Paulo; additional reporting and writing by Andre Romani; Editing by Cynthia Osterman)