The regulatory change establishes that, from now on, they must inform the CNV of the variation in their shareholding every time it reaches multiples of 2%.
The National Securities Commission (CNV) decided to make the special information regime for shareholder holdings in the markets more flexible. The measure aims to simplify and, in certain cases, automate information procedures.
The regulatory change will be published in the next few hours in the Official Gazette through general resolution 1,036 with the objective of “guaranteeing greater efficiency in the market,” the organization stated.
The decision, which modifies the criteria and deadlines for submitting informationadds to the reform implemented to the general tenure regime through general resolution 1,035. In this case, the CNV modified the special information regime for shareholdings in stations that have the status of “Markets” under public offering.
CNV: the details of the measure
The new regulations establish that, From now on, market shareholders must inform the CNV of any variation in their shareholding only when the percentage reaches multiples of 2%.. This “simplifies and facilitates the process of presenting information,” highlighted the organization chaired by Roberto Silva in a statement.
Simultaneously, the National Securities Commission establishes a within 10 business dayswhich will allow investors to prepare their presentations. Thus, the requirement of immediacy is eliminated.
On the other hand, the CNV enables an electronic means for the instantaneous presentation of information for cases in which it is not appropriate to send it by the AIF (Financial Information Highway). The statement highlighted that this “will allow us to reduce the costs associated with its shipment and will facilitate compliance with the established deadlines.”
“With these actionsthe CNV’s commitment to the development and transparency of the capital market in Argentina is reaffirmed,” the entity stated.
Source: Ambito
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