The Argentina Securities Commission (CNV) issued a regulatory amendment to clarify and standardise how financial trusts (fideicomisos financieros) issued under global programmes may be named and numbered, aiming to improve issuance traceability, series identification and the organisation of market-relevant information while maintaining transparency expectations. As a general rule, continuity in a trust’s denomination and numbering is permitted when the issuance is within the same global programme, the trustee and settlor remain the same, and the composition of the underlying assets coincides. The rules also introduce added flexibility where a global programme changes, whether with the same trustee or a different one, allowing consecutive naming and numbering to continue if the new programme retains similar characteristics and the general conditions continue to be met. For trusts backed by receivables, changes to the trust assets that do not alter their nature as receivables may also preserve the existing denomination and numbering, provided the modification is duly disclosed to investors. The amendment applies to financial trusts authorised for public offering under any of the CNV’s applicable authorisation regimes.
Argentina Securities Commission (CNV) 2026-03-04
Argentina Securities Commission revises naming and numbering rules for financial trusts under global programmes
The Argentina Securities Commission (CNV) amended regulations to standardize naming and numbering of financial trusts under global programmes, enhancing issuance traceability and series identification. The amendment allows continuity in denomination and numbering if the trust's programme, trustee, settlor, and asset composition remain consistent, with added flexibility for programme changes. It applies to financial trusts authorized for public offering under CNV regimes.