On March 6, 2026, General Resolution No. 1116/2026 (the “Resolution”) issued by the National Securities Commission (Comisión Nacional de Valores, the “CNV”) was published in the Official Gazette of the Argentine Republic. The Resolution standardizes the criteria applicable to the naming and numbering of financial trusts, with the aim of enhancing operational efficiency for market participants, streamlining authorization and supervisory processes, and strengthening the CNV’s oversight functions.
The Resolution allows for the continuity of the naming and numbering of financial trusts when issuances:
- are carried out under the same Global Program;
- maintain the identity of both the trustee and the settlor; and
- preserve consistency in the composition of the underlying assets.
However, the Resolution also permits financial trusts to retain their naming and sequential numbering in the event of a change in the Global Program, whether involving the original trustee or a new one, provided that the following conditions are met:
- the new program retains substantially similar characteristics to the previous one;
- the substantial identity of the settlor(s) is maintained; and
- the financial trusts preserve consistency in the composition of the underlying assets.
The Resolution entered into force on March 7, 2026.
