The Argentina Securities Commission (CNV) has launched a public consultation, via General Resolution 1065, on rules to create two new special public offering regimes for shares based on “automatic authorisation”, aimed at simplifying market access and reducing the costs of going public. Under the proposed low-impact regime, issuers would enter the public offering framework but would be exempt, in full or in part, from the general-entry documentation, with no requirement to file a prospectus and no ongoing disclosure regime other than annual financial statements. For the proposed medium-impact regime, admission would also be subject to reduced requirements, with the core ongoing information obligation limited to annual financial statements prepared under the applicable Argentine Professional Accounting Standards (NCPA) and related interpretations. Issuers already in other public offering regimes would be able to transfer into the low- or medium-impact automatic authorisation regime if they meet specified prerequisites, while CNV would retain broad supervisory and investor-protection powers.
Argentina Securities Commission (CNV) 2025-05-07
Argentina Securities Commission launches consultation on automatic authorisation regimes for low and medium impact public share offerings
The Argentina Securities Commission (CNV) has initiated a public consultation on General Resolution 1065 to establish two new special public offering regimes for shares with "automatic authorisation" to simplify market access and reduce IPO costs. The low-impact regime exempts issuers from general-entry documentation and ongoing disclosure, while the medium-impact regime requires only annual financial statements under Argentine standards. Existing issuers can transfer to these regimes if they meet certain criteria, with CNV maintaining supervisory and investor-protection powers.