The National Securities Commission mandated the application of the automatic public offering authorization regime for the formation and modification of Closed-End Mutual Funds and revised various aspects of the general regime applicable to this type of investment vehicle.
The National Securities Commission (“CNV”) issued General Resolution No. 1160/2026 (the “Resolution”), which amends Chapter III of Title V of the Regulations (N.T. 2013, as amended), pertaining to Closed-End Mutual Funds (“FCICs”). The reform is based on the automatic authorization regime established by General Resolution No. 1148, which had permitted (on an optional basis) the formation of FCICs intended exclusively for Qualified Investors, as well as those aimed at the general public whose issue amount did not exceed 100,000,000 UVAs.
Access the complete text of the Resolution here.
This publication was prepared based on information dated August 6, 2026, and does not constitute legal advice on specific matters. If necessary, specialized legal counsel should be sought.
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