The agency seeks to expand the universe of eligible assets for mutual funds for small and medium-sized enterprises.
The National Securities Commission modified the special regime for the constitution of the Financial Trusts intended for financing SMEs, and temporarily expanded the universe of eligible assets for Mutual Funds for small and medium-sized enterprises.
In line with the modifications introduced by a previous resolution last April, a new sector was identified that, without having “MiPyME Certificate”, It is also not recognized as a Large Company according to the list managed by the Federal Public Revenue Administration. “In view of this, the criteria for both instruments were unified, admitting rights or credits arising from operations carried out with companies that meet the parameters mentioned above within the percentage of up to twenty percent (20%) of the amount of the trust asset, considering its nominal value,” it was reported.
Additionally, for both instruments and until the end of this year, it is encouraged Increase the indicated percentage to 40%, in order to improve opportunities for access to the capital market for the companies mentioned above.
The regulation -RG CNV No. 1019- aims to continue expanding the universe of entities that can access differential financing such as the SME regime in the capital market.
Capital market at the service of SMEs
On February 22 of this year, CAME met with the CNV. There, the head of the business entity, Alfredo González, stated that “only 3% of everything that moves the Argentine financial world is directed to SME financing, which is a very low number.”
For his part, the president of the CNV, Roberto Silva said that “promote the inclusion of SMEs through concrete actions of financial education is key to the development of capital market”. The organization and the chamber proposed joint actions to be developed during the year, such as holding workshops in different provinces throughout the country.
Also It was agreed to work on a training program for SMEsfocused on the instruments offered by the capital market, their scope and benefits for obtaining financing.
Source: Ambito
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