This is stated in a resolution of the National Securities Commission. Rules on transfers of securities abroad obtained in primary placements are also required.
The National Securities Commission (CNV) resolved in the last hours eliminate the obligation to communicate operations carried out within the framework of the exception provided for the open Common Investment Funds (FCI) denominated in foreign currency, for the exclusive purpose of responding to ransom requests.
In addition, it provided for people Non-residents do not apply the daily limit of $200 million for transfers abroad of assets for primary placements. This was established in a general resolution 1022/2024 that is published in the Official Gazette.
“The National Securities Commission (CNV) specifies the scope, for non-residents, of the restrictions of the daily limit on transfers that exceed $200 million abroad for primary placements,” the note says.
The statement indicates that “the rule establishes that the daily limit does not apply to such transfers, to the extent that they are negotiable securities that amortize after 3 (three) years from the date of their issuance and that had been acquired in placement or primary bidding. , up to the nominal value subscribed”.
In this regard, it is noted that: Furthermore, in line with the modifications recently introduced by General Resolution 1018 that was published in the Official Gazette, “the obligation to communicate operations is eliminated carried out within the framework of the exception provided for Open Common Investment Funds (FCI) denominated in foreign currency for the exclusive purpose of responding to ransom requests.”
The CNV measure modifies an article of a previous regulation that determines the limits that are maintained for transferring abroad (up to $200 million per day), which remain the same.
In the case of Common Investment Funds in dollars, the rule states that they no longer need to inform in advance on securities sales operations, as they had been doing until now.
Source: Ambito
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