ARGENTINA: CNV Introduces Amendments to the Procedures

Thursday July 24 2025

On 23^rd July 2025, the National Securities Commission (CNV) approved RG No. 1076, which introduced amendments aimed at simplifying procedures, streamlining placements, and improving the competitiveness of the local capital market. This measure is part of the principles of simplification and deregulation promoted by Board, in line with national government policy.

In summary, the following modifications are made:

• the obligation to notify Frequent Issuers FIVE (5) days in advance of their intention to issue, as well as the obligation to inform of the withdrawal of the issue, is eliminated;
• the issuance and/or reissuance of series or classes is enabled within the global amount authorized under the Frequent Issuer Regime, equating this power with that provided for Global Programs.
• the requirements for processing Argentine Depositary Certificates (CEDEARs) and Securities Certificates (CEVAs) are simplified; the legal report is replaced by a sworn statement from the issuer.
• the minimum subscription amount is updated to adapt it to the current economic context, facilitating larger-scale placements and avoiding outdated limits that restrict viable operations; and
• the dissemination periods are made more flexible, reducing them to ONE (1) business day for the dissemination of all placements of negotiable securities, except for cases of refinancing or exchange, which are established at TWO (2) business days; and the calculation of the dissemination periods for all Public Offering placements is also clarified.

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