Amendment to Regulations on Transfer of Securities Abroad
The amendment defines the exceptions for transferring securities abroad and eliminates the obligation to report certain transactions.
General Resolution 1022, issued by the Argentine Securities Commission (CNV) on October 3, 2024, specifies that the daily limit of transfers abroad exceeding ARS 200 million does not apply for securities that mature three years or more from their issuance date and that were acquired through primary placement or bidding, up to the nominal value subscribed.
Additionally, following the amendments introduced by General Resolution 1018, the new regulation eliminates the obligation to report transactions for open-end mutual funds denominated in foreign currency solely for meeting redemption requests.
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