On July 8, 2025, the National Securities Commission (the “NSC”), through General Resolution 1074 (the “Resolution”), amended the existing regulations regarding automatically authorized financial trusts for frequent issuances, establishing alternatives for their implementation.
The Resolution provides new alternatives for financial trustees to submit Prospectus Supplements in order to access the Frequent Issuer Regime.
These alternatives are:
– Submit an Annual Prospectus Supplement for Frequent Issuances, updated annually, and at the time of each issuance, publish an Abbreviated Prospectus Supplement for Frequent Issuances.
– Submit an Annual Prospectus Supplement for Frequent Issuances, and at the time of each issuance, publish an Abbreviated Prospectus Supplement for Frequent Issuances. The trustee may choose not to update the information in the Annual Prospectus Supplement; in this case, once its validity expires, a Prospectus Supplement must be submitted for each issuance in accordance with Article 21 of Section X, Chapter IV, Title V of the NSC RULES.
– Submit, at the time of each issuance, a full Prospectus Supplement in accordance with Article 21 of Section X, Chapter IV, Title V of the NSC RULES.
The Resolution came into force on July 11, 2025.
