On May 11, the Financial Markets Commission (CMF, for its acronym in Spanish) launched a public consultation on a draft regulation to temporarily exempt the issuance of long-term securities from certain requirements. This regulation is of a transitional and exceptional nature, as it is being considered in the context of the health emergency. Interested parties may submit their comments on the document until May 20.
Specifically, the measure simplifies the requirements of the registration process for long-term debt securities, temporarily eliminating the obligation to include the following information in the registration application:
- “The regulations are not intended to show that the corresponding bond emission is included among the powers conferred by partners or shareholders on administrators or directors, and from these to their legal representative, and conforms to the legal framework in force; and
- Any records that may be modified subsequent to registration which must be submitted to the Commission before being handed over to the investors.”