The National Securities Commission introduced a comprehensive reform of the financial trust regime, eliminating two automatic public offering regimes due to lack of use, significantly raising the limit for the remaining regime, updating the General Authorization Regime, and reorganizing a large portion of the provisions governing financial trusts.
The National Securities Commission (“CNV”) issued General Resolution No. 1159/2026 (the “Resolution”), which amends numerous provisions of Chapter IV of Title V and Chapters V and VIII of the same Title of the Regulations (N.T. 2013, as amended), relating to the financial trust (“FF”) regime. The reform is part of the process of simplifying the automatic public offering regimes applicable to trust-based negotiable securities, which began with General Resolution No. 1051 (which created the Low- and Medium-Impact Regimes), continued with Regulatory Resolution No. 1063 (which incorporated the Frequent Issuance Regime), and updated by Regulatory Resolution No. 1146, which increased the maximum amounts and created the Expanded Medium-Impact Regime.
Access the complete text of the Resolution here.
This publication was prepared based on information as of August 6, 2026, and does not constitute legal advice on specific matters. If necessary, you should seek specialized legal counsel.
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