CNV Modernizes Payments in the Capital Markets

The Argentine Securities Commission (CNV) published General Resolution 1139 on May 14, 2026, through which it replaced Title XI of the Rules (text of 2013, as amended), amending the payment methods applicable to subjects of the capital markets, and regulating a specific regime for clients who adhered to the Simplified Sworn Statement Regime for Income Tax.
 

The main amendments include:

Elimination of the use of cash

As a general rule, the use of cash in capital markets transactions is prohibited, with the sole exception of clients adhered to the Simplified Regime, as further detailed below.
 

Operational flexibility for checks

While the Resolution had eliminated the limit of two checks per day per client that was in force, later, through the issuance of General Resolution 1141 on May 22, 2026, the CNV reinstated such limit and provided that subjects may not carry out more than two disbursements of funds per day per client, whether by means of physical or electronic checks.

Incorporation of the electronic check

The use of electronic checks is expressly incorporated to receive and pay funds to clients. No limitations on the number of endorsements apply to these transactions, as long as the traceability of the instrument is ensured at all times.

New specific regime for the Simplified Regime

The Resolution introduces a regime applicable to individuals or undivided estates residing in Argentina who have adhered to the Simplified Regime.
 

To access this new Regime, clients must:

●    Have adhered to the Simplified Regime.
●    Be holders or co-holders of the principal accounts (cuentas comitentes) or accounts involved.
●    Not operate with jurisdictions considered non-cooperative for tax transparency purposes or high-risk under FATF standards.

Clients included in the regime may bring in funds and/or assets through:

●    Cash deposits, as an exception to the general principle.
●    Transfer of securities to and from principal sub-accounts (subcuentas comitentes) opened in their name or jointly with another holder at ALyCs or at agents involved in the placement of mutual funds (FCI).
●    Transfer of virtual assets to and from accounts opened in their name or jointly with another holder at Virtual Asset Service Providers (VASP) registered before the CNV.