The Argentina Securities Commission (CNV) amended the operational framework for Individually Issued Negotiable Securities (VNEI), enabling investors to transfer overdue and unpaid instruments, including promissory notes, to third parties and register ownership changes through Caja de Valores. The measure further refines the VNEI regime following earlier amendments that expanded the circumstances in which regulated agents may act as issuers or drawers. A custody, registration and payment agent may now record transfers of overdue and unpaid VNEI that were previously traded on a CNV-authorized market and remain in its custody. The activity is intended to provide holders with an alternative to pursuing collection, while the agent will not be subject to the otherwise applicable 25% increase in minimum net worth. The CNV also extended the issuer exception to an ALyC I Agro that also holds ACDI registration.
Argentina Securities Commission enables transfers of overdue unpaid individually issued negotiable securities and broadens issuer exception
The Argentina Securities Commission amended the VNEI framework to allow investors to transfer overdue and unpaid instruments to third parties and register ownership changes through Caja de Valores. It also expanded the agent issuer exception and exempted custody, registration and payment agents providing the transfer service from a 25% minimum net worth increase.