Argentina's National Securities Commission has launched a consultation on rules for Labor Assistance Fund Collective Investment Products, a new mechanism for meeting obligations arising from the termination of employment. The products must take the form of public-offering financial trusts or open-ended mutual funds supervised by the commission, with ring-fenced assets funded exclusively through employer contributions. The proposal sets requirements for eligible administrators and covers vehicles established by either one employer or multiple companies. It also addresses unique identifiers for employer accounts, fund traceability, portability rights, default allocation by the commission where an employer has not provided a valid identifier, and statutory limits on fees, commissions and expenses. The products would use an automatic authorization regime, with financial trusts exempt from preparing a prospectus or prospectus supplement and open-ended mutual funds not required to use the standard management regulations. Comments may be submitted within 15 business days.
Argentina Securities Commission (CNV)2026-08-12
Argentina's National Securities Commission launches consultation on labor assistance fund investment regime with automatic authorization
Argentina's National Securities Commission is consulting on a regime for employer-funded collective investment products designed to meet obligations arising from employment termination. The vehicles would operate as public-offering financial trusts or open-ended mutual funds under automatic authorization, with rules covering administrators, traceability, portability, default allocation and costs. Comments are due within 15 business days.