On November 8, the National Securities Commission (CNV in Spanish) opened a public consultation to modify the regulatory framework applicable to Placement and Distribution Agents (ACD in Spanish) and Integral Placement and Distribution Agents (ACDI in Spanish) of Mutual Funds. Interested parties will have 15 business days to submit their opinions and/or proposals.
The CNV’s Board of Directors promotes the modification of the current regulatory framework for the registration and operation of ACDs and ACDI. According to the agency, in the process of developing the regulations, it was considered necessary to update the equity requirements demanded to these agents, as well as the delimitation of the subjects intervening as Placement and Integral Distribution Agents in the commercialization of shares of open-end funds. In addition, the project foresees an adaptation term for those agents that are in operation at the time of the issuance of the definitive General Resolution.