Argentina Securities Commission mandates automatic public offering regime for qualifying financial trusts and closed-end mutual funds

The Argentina Securities Commission (CNV) has revised the automatic public offering framework for financial trusts and closed-end mutual funds, making its use mandatory for issuances that meet the applicable requirements. The changes simplify authorization procedures and align the treatment of instruments under the CNV’s automatic authorization regimes. For financial trusts, the revisions eliminate the separate low-impact and medium-impact automatic public offering regimes. For closed-end mutual funds, they standardize terminology by designating the framework as the Public Offering Regime for Closed-End Mutual Fund Units with Automatic Authorization Based on Expanded Medium Impact. Participants remain responsible for the quality and accuracy of information disclosed to investors, and repeated amendments caused by attributable inconsistencies, inaccuracies or errors may result in disciplinary measures.