The Argentina Securities Commission (CNV) issued General Resolution No. 1063 creating two new regimes for processing and authorising automatic public offerings of financial trusts, designed to simplify and shorten approval procedures and reduce administrative requirements for frequent issuers. The two regimes use similar issuance documentation but differ in the authorisation process. Once a financial trust reaches four total issuances, including two within a year, it may apply for public offering authorisation via an abbreviated procedure. After seven total issuances, including three in the last year, CNV approval is no longer required to offer the product in the capital markets. Fiduciaries using these special regimes must continue to comply with the general and periodic disclosure regime applicable to financial trusts and with transparency obligations. The final text follows a public consultation conducted under General Resolution No. 1056 and incorporates feedback received from market participants.
Argentina Securities Commission (CNV) 2025-04-23
Argentina Securities Commission creates abbreviated and fully automatic public offering regimes for financial trusts tied to 4 and 7 issuance thresholds
The Argentina Securities Commission (CNV) issued General Resolution No. 1063, establishing two new regimes to streamline the approval process for automatic public offerings of financial trusts. These regimes simplify procedures for frequent issuers, allowing abbreviated authorisation after four issuances and eliminating CNV approval after seven. Fiduciaries must adhere to existing disclosure and transparency obligations.