New Alternatives for Frequent Financial Trusts 

On July 8, 2025, the Argentine Securities Commission (CNV) issued General Resolution 1074, amending the applicable regulations on financial trusts with automatic authorization due to their frequent issuance status and introducing alternatives to implement them. 

The Resolution establishes a new framework for filing prospectus supplements, allowing financial trustees who qualify under the frequent issuer regime to choose, for each issuance, from the following alternatives:

•    File an annual prospectus supplement for frequent issuers updated annually and, for each issuance, publish an abbreviated prospectus supplement for frequent issuers.

•    File an annual prospectus supplement for frequent issuers and, for each issuance, publish an abbreviated prospectus supplement for frequent issuers. Under this option, the issuer may choose not to update the information in the annual prospectus supplement for frequent issuers and, therefore, once its term has expired, it must file, for each issuance, a complete prospectus supplement pursuant to article 21, Section X, Chapter IV, Title V of the CNV Rules (Text 2013, as amended).

•    File, for each issuance, a full prospectus supplement pursuant to article 21, Section X, Chapter IV, Title V of the CNV Rules (Text 2013, as amended).

The CNV states that these alternatives align the regulatory framework with the principles of efficiency in the capital market. This avoids duplications that hinder the dynamism of issuances with a consolidated track record and reinforces the responsibility of market participants with respect to their duty to ensure the truthfulness, completeness, and timeliness of the information