02 Mar 26 Simplification of the Periodic Reporting Regime

Martín Chindamo, Valentina Circolone y Alejo García Ribes

By means of Resolution No. 1115 (hereinafter, the «Resolution«), the National Securities Commission (hereinafter, the «CNV» by its acronym in Spanish) simplifies the Periodic Reporting Regime for issuers.

Consequently, through the Resolution, the maximum comparative series required for the Informative Review is reduced to three (3) fiscal years, and the article requiring financial institutions to submit a monthly breakdown of guarantees and sureties is eliminated, since such information is already covered through their general reporting as a “Material Event”.

Additionally, the accounting regime applicable to issuers included under the automatic authorization regimes is simplified. In particular, issuers that issue shares or notes exclusively under the Automatic Authorization Regime for Medium Impact, regardless of whether they qualify as SME, will only be required to file their annual financial statements. In turn, issuers that issue exclusively under the Automatic Authorization Regime for Low Impact will be exempt from filing annual financial statements and interim financial information.