Sergio Negri criticized the new Mercado Pago initiative that allows users between the ages of 13 and 17 to invest and sparked controversy among his Twitter followers.
This week, Mercado Pago enabled users between the ages of 13 and 17 to invest through its digital account, for which the company reported that, from now on, adolescents can invest their money in the Common Investment Fund offered through this digital payment platform, managed by BIND Inversiones and guarded by BIND.
According to data from Market Paymentalready More than 7.8 million people invest under this modality in Argentina. And, from now on, teenagers will join. Currently, the balances invested in the Common Investment Fund yield a nominal annual rate (TNA) of 76.3%, on average for the last week.
“Welcome the financial inclusion of young people! But we need to do it without exposing them to risks or partial information. No one can guarantee that an investment will yield 76%. A mutual fund is not a fixed term. Let’s work together to get it right #76a0″began his discharge the president of the National Value Comission (CNV) sebatian negri through his official account Twitter.
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Repercussions of Negri’s criticism of Mercado Pago
the thread of Twitter de Negri sparked controversy among users of the little bird’s social network, since some economists, including Fernando Marullpoint out that a fixed term yields 97% above Mercado Pago investments, and is “backed with leliq”, from the Central Bank (BCRA), insinuating that this makes it a not so solid instrument.
Meanwhile, other users suggested that a positive instrument would be that the NVC allow the Settlement and Clearing Agent (ALyC) “take investments from minors” or allow banks to “take time deposits from minors, with the same rules for all”.
Faced with criticism and comments, the official responded. “I clarify because I see many misinterpretations. I am glad that there is more and better financial inclusion. However, The possibility that minors between the ages of 13 and 17 can invest in the FCI Money Market through a PSP must be discussed within the regulatory environment.“, said.
“An orderly path on this issue that ends with good regulation will always generate more competition (same rules for everyone), better services and greater protection for minority investors,” concluded Negri.
Source: Ambito
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