On September 18, 2024, the National Securities Commission (“CNV”) published in the Official Gazette General Resolution 1018 (the “Resolution”), which adjusts and relaxes certain required temporary provisions related to negotiable securities transactions.
Among the changes are:
– It will be possible to execute and/or settle sales of marketable securities with settlement in foreign currency, both in local and foreign jurisdiction, as long as there are taking positions in foreign currency in sureties, passes or any type of financing through transactions in the capital market. This restriction is still in force for transactions in ARS.
– It will no longer be necessary to notify the CNV five days in advance to carry out spot transactions with settlement, including transfers of marketable securities issued by residents to depository entities abroad, in transactions in excess of ARS 200 million. The daily limit of ARS 200 million is maintained for transactions carried out by non-residents.
The Resolution will enter into force on September 25, 2024.
