On December 24, 2024, the National Securities Commission (CNV) announced a series of regulatory changes affecting Money Market Mutual Funds (FCI). The reform aims to modernise the regulatory framework, reduce administrative costs, and increase competitiveness. The new limits allow each FCI to allocate up to 50 % of its assets to traditional fixed‑term deposits and up to 50 % to pre‑cancelled fixed‑term deposits, but the combined total of both types of deposits cannot exceed 70 % of the fund’s net asset value. Additionally, funds may invest up to 20 % in short‑term debt securities, providing greater flexibility in asset management.
“To strengthen the functioning of these products and protect savers,” reads Resolution 1096 issued by the CNV. The agency also unified and updated general market‑capital definitions, adding terms such as Agent of Settlement and Compensation, Initial Public Offering, and FCI, to give investors greater legal certainty.
