The initiative seeks to make subscription easier for small investors, whose demand grew as a result of money laundering.
The National Securities Commission (CNV) decided to expand the possibilities of participation of retail investors in primary placements carried out by private and public entities in the capital market. The initiative seeks to capture the greatest demand for this type of agents that has arisen in the heat of the bleach of capitals.
The board of directors of the organization advanced a modification of the regulations on primary placement of negotiable securities, which will be made official through the general resolution 1,034 of the CNV.
Attention retail investors: the new CNV measure
Until now, the regulation indicated that issuers of negotiable securities could allocate up to 50% of the total in the non-competitive sectionwhere retail investors usually participate (they can indicate the amount of securities they want to acquire, but without clicking on the price).
With the new general resolution, the CNV expands the margin of participation of the non-competitive section when, once the offers of the competitive section have been awarded, there is room to award more participants of the non-competitive section. “Then This 50% limit may be increased to the necessary percentage to cover the total amount offered by the issuer.”the organization explained in a statement.
CNV: the objective of flexibility
The president of the CNV, Robert Silvahighlighted that “this new regulation allows increasing the participation of minority investors who do not participate in the competitive section and, therefore, do not set the price.” And he added: “The regularization of assets ordered by the Government has incorporated and significantly increased the participation of retailers in the placement processes”.
Official sources added that this regulatory modification also prevents an idle remainder of negotiable securities from remaining, which allows the placement for issuers to be maximized and improve the efficiency of the issuance process.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
