The Argentina Securities Commission has comprehensively revised the regulatory framework for credit rating agencies, advancing its broader review of obsolete and burdensome capital markets rules. General Resolution No. 1164 narrows the regime to public credit risk ratings, aligns it with Argentina’s Productive Financing Law and International Organization of Securities Commissions standards, and permits complementary activities that do not create conflicts of interest. The reform removes prior notification requirements and the commission’s participation in rating council meetings, while easing rules on outsourcing and rating agreements. Agencies receive greater flexibility to set methodologies, scales and categories, and disclosure and review requirements are streamlined around continuous monitoring with updates at least annually. The revised framework reduces the number of sections from 48 to 27 and articles from 164 to 81, eliminates annexes and reorganizes the rules into three chapters separating common provisions from requirements specific to each agency category.
2026-09-03Argentina Securities Commission (CNV)
Argentina Securities Commission overhauls credit rating agency rules, cuts articles by more than half
The Argentina Securities Commission has overhauled credit rating agency rules as part of its broader regulatory simplification initiative, cutting the framework from 164 articles to 81. The reform narrows its scope to public credit risk ratings, eases procedural, outsourcing and disclosure requirements, and gives agencies more flexibility while retaining continuous monitoring and at least annual updates.