Argentina Securities Commission (CNV) issued General Resolution No. 1084 amending the general framework for financial trusts to simplify and speed up authorisation, admission and registration processes, removing formal requirements that it considers do not affect legal certainty or the quality of information. The changes remove a range of obligations, including certain requirements to register Financial Fiduciaries, restrictions on series numbering under global programmes, certifications and legalisations, and documentation previously required to request a public offering of financial trusts. The CNV also streamlined substantive and formal requirements for fiduciary and settlor corporate resolutions, eliminated quarterly financial statement filings for Financial Fiduciaries, and reduced mandatory disclosures in programme prospectuses and prospectus supplements, including information on other participants, environmental policies and employee details. It repealed several legacy regimes, including the 2016 special simplified processing regime (replaced by automatic offering regimes), the 2020 “Solidarity” financial trust regime and the abbreviated financial trust regime, and clarified drafting on the first set of financial statements and the assembly regime in line with the Argentine Civil and Commercial Code. As part of the overhaul, trust agreement content requirements were simplified, remote assemblies were enabled as the default unless the contract provides otherwise, and authority to approve digital representation of trust securities was delegated to the Financial Trusts management units. The reorganisation reduced the relevant rulebook from 124 to 87 articles. CNV President Roberto E. Silva described the resolution as the first step in a broader set of rules currently under development.
Argentina Securities Commission (CNV) 2025-09-04
Argentina Securities Commission streamlines authorisation and disclosure requirements for financial trusts
The Argentina Securities Commission (CNV) issued General Resolution No. 1084, amending the framework for financial trusts to streamline authorisation, admission, and registration processes by removing certain formal requirements. Key changes include eliminating obligations for Financial Fiduciaries, simplifying corporate resolutions, and reducing mandatory disclosures in programme prospectuses. The resolution repeals several legacy regimes and reduces the rulebook from 124 to 87 articles, marking the first step in a broader regulatory overhaul.