The Argentine Securities and Exchange Commission ("Comisión Nacional de Valores") limits simultaneous purchase and sale
THE ARGENTINE SECURITIES AND EXCHANGE COMMISSION ("COMISIÓN NACIONAL DE VALORES") LIMITS SIMULTANEOUS PURCHASE AND SALE SECURITIES TRANSACTIONS FOR INDIVIDUALS
On September 12,
2019, the Argentine Securities and Exchange Commission (Comisión Nacional de
Valores or “CNV”) issued General Resolution No.
2019-808-APN-DIR#CNV, which established the following requirements for
purchasing foreign-currency-denominated securities by individuals and for
amounts of up to US$10,000: (i) the filing of an affidavit in which the
individual assures that the funds are not the result of a foreign exchange
transaction performed through the Free Single Foreign Exchange Market within
the previous 5-business day term; (ii) a minimum 48-hour holding term in
portfolio of the relevant securities; and (iii) a minimum 5-business day term
for the securities to be transferred in exchange of Argentine pesos.
Should you require further information, please contact Fermín Caride and/or María Victoria Funes.