Argentina Securities Commission launches consultation on expedited and automatic authorisation regimes for financial trust public offerings

The Argentina Securities Commission (CNV) has opened a public consultation, through General Resolution No. 1056, on rules to introduce two new special public offering regimes for financial trusts, combining an expedited approval track with an automatic authorisation pathway for frequent issuances. The proposal would require two new issuance documents in both regimes: an annual prospectus supplement and an abbreviated prospectus supplement. The key difference is the authorisation method, linked to the number of financial trusts previously authorised by the CNV, with public offering approval granted explicitly under the expedited process and granted automatically for vehicles that meet the requirements to be treated as frequent issuances. Issuing under these regimes would not exempt fiduciaries from existing public offering obligations or from the general and periodic disclosure regime applicable to financial trusts. The CNV invited market participants to submit input as part of the public consultation.