The law marks an important step towards deregulation of the economy and the capital market by expanding the investment options available to Argentines.
Through General Resolution 1011/2024 of the National Securities Commission (CNV) were expanded the distribution channels of mutual fund shares (FCI). In other words, the regulation seeks to make it easier for more people to invest in these instruments, which are a tool that has gained great relevance in recent months.
What changes does this resolution introduce?
The resolution makes two fundamental modifications to current regulations:
- Expansion of placement agents: The official text allows more agents to trade FCI shares. Previously, this task was restricted to agents with membership in a specific market. Now, any Integral Placement and Distribution Agent, even if they do not have such membership, may participate in the marketing as long as they adhere to the framework agreement signed between the market and the fund’s bodies.
- Simplification of procedures: The regulation simplifies the registration process for agents wishing to market shares, especially for those who are already registered in other categories.
Objective of the standard
According to the Resolution, the main objective is to promote investment in FCI and, therefore, the development of the capital market. By expanding distribution channels, The aim is to ensure that more people have access to these products and can diversify their investments.
The regulation also marks an important step towards the deregulation of the economy and the capital market, by facilitating investors’ access to mutual funds and expanding the investment options available.
What is an Integrated Placement and Distribution Agent (ACDI) in Argentina?
A Comprehensive Placement and Distribution Agent is a financial entity or legal person authorized by the National Securities Commission (CNV) to carry out the purchase and sale of shares in Mutual Funds (FCI) on behalf of its clients, as well as other financial operations. In simpler terms, they are like financial intermediaries that help users invest their money.
Source: Ambito
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