The measure seeks to promote participation in the capital market, favor national savings and their channeling towards productive development.
In both cases, the CNV establishes a series of requirements and protection measures to guarantee that minors understand the risks of this type of investment.
Courtesy: More investments
Through the General Resolution 977/2023 published this Friday in the Official bulletinthe National Securities Commission (CNV) regulated that minors, from the age of 13 yearscan subscribe shares of “Money Market” Open Investment Funds.
The CNV considers that this measure is pertinent to promote participation in the capital market, favor national savings and their channeling towards productive development, and strengthen protection mechanisms and prevention of abuses against investors.
The measure provides for two subscription modalities:
- Modality through the internet, with authorization of the legal representative: In this case, the minor adolescent may place share subscription orders through an online placement system. To do this, she must have a bank account identified with a Uniform Bank Code (CBU) or payment account with a Uniform Virtual Code (CVU), owned by the minor, which is linked to the bank account of the legal representative.
- Modality without intervention of legal representatives, with funds from savings banks opened in the BCRA: In this case, the minor adolescent may subscribe shares with the funds from a savings account opened at the BCRA, without the intervention of his legal representatives. The maximum subscription amount will be that established by the Central Bank (BCRA).
In both cases, the CNV establishes a series of requirements and protection measures to ensure thatMinors understand the risks of this type of investment.
Among the requirements are:
- Provide information about the main characteristics of the Fund and the possible risks that this type of investment represents.
- Have a mechanism that allows verification, prior to the subscription of the quotas, the confirmation of its reading.
- Offer specific access with financial education content linked to investments in Open FCIs, directed and adapted to minors in this age range.
Source: Ambito
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