The Argentina Securities Commission (CNV) issued General Resolution No. 1125, following a public consultation, to enable crowdfunding-style placements within the automatic public offering regime for low and medium impact issuances. The framework allows participation by non-qualified investors, subject to objective investment limits and informational safeguards calibrated to their profile. The new rules allow smaller-scale issuances to be channelled through the capital markets without prior CNV intervention, using more agile mechanisms while maintaining the technical and prudential parameters of the general automatic authorisation regime. The medium-impact cap for shares and corporate bonds increases from UVA 7 million to UVA 15 million, and the definition of “qualified investor” for resident individuals is updated to include virtual asset holdings and to clarify that relevant assets may be held domestically or abroad. CNV also decided not to proceed at this stage with the proposed changes on “super-qualified” investors, and the resolution does not amend the separate Crowdfunding Platforms regime under Law No. 27,349.
Argentina Securities Commission (CNV) 2026-04-06
Argentina Securities Commission permits crowdfunding offerings under its automatic low and medium impact regime and raises the medium impact cap to UVA 15 million
The Argentina Securities Commission issued General Resolution No. 1125 to permit crowdfunding-style placements within the automatic public offering regime for low and medium impact issuances, allowing non-qualified investors to participate subject to limits and safeguards. The rules enable smaller issuances to access capital markets without prior Commission intervention, raise the medium-impact cap for shares and corporate bonds from UVA 7 million to UVA 15 million, and update the “qualified investor” definition for resident individuals to include virtual asset holdings and assets held domestically or abroad, while leaving the existing Crowdfunding Platforms regime unchanged.