The CNV explained that the initiative “is intended to frame those agents who, in addition to stock market activity, develop – simultaneously and specifically – grain, agricultural and agro-industrial brokerage activities in general, related and ancillary to these.”
“The fact that they are agents that combine regulated activities with other non-regulated ones -although complementary in the agricultural business- requires the implementation of regulatory actions that better protect investors in the capital market against the combination and increase of risks that the action of these agents“, he added.
The norm was approved after noticing “certain asymmetries in relation to the characteristics of the different agents registered under the same category”, for which it was conducive to “establish new guidelines that allow reinforcing the control and supervision objectives”, it was specified in the recitals of the regulations. With this initiative, it is sought to avoid the cessation of payments of companies as were the cases of BLD or Guardati Torti.
Agents registered under the Alyc I Agro subcategory may carry out activities complying with specific requirements regarding the treatment of client liquid funds and their investment, the segregation of third-party assets and minimum net worth and liquid counterparty.
In this way, it seeks to “facilitate the operational traceability of the Alyc I Agro and protect the interests of the investing public, both essential functions of the CNV and guiding principles of the regulation of the capital market,” said the agency.
The general resolution arose as a result of the analysis of the opinions and non-binding recommendations received from different market participants, interested sectors and the general public, he added.
Source: Ambito
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