Buenos Aires, January 22 (NA) -- The National Securities Commission (CNV) is promoting a project to simplify the permanence and access of small and medium-sized enterprises (SMEs) to the capital market. The initiative seeks to allow companies to change their public offering regime according to their structure and operational capacity, as learned by the Argentine News Agency. The scheme was formalized in General Resolution 1104/2026, published this Thursday in the Official Gazette. According to the considerations, the regulatory body detected that the requirements of the General Regime are disproportionate for small-scale companies, family structures, or those with low liquidity. With this modification, issuers will be able to opt for regimes with lower information requirements to reduce regulatory costs. Based on this decision, a process is opened to establish a specific procedure for changing regimes with clear deadlines and requirements. The project contemplates that companies that move to regimes with lower demands may stop using the International Financial Reporting Standards (IFRS) and apply the Argentine Professional Accounting Standards (NCPA). To guarantee the protection of minority shareholders in the face of reduced transparency, the change of regime will require the prior execution of a Public Tender Offer (PTO). The proposal is under the procedure for 'Participative Elaboration of Norms,' which allows citizens and interested sectors to send opinions and suggestions. Interested parties have a period of 15 business days to submit their proposals through the CNV's website.
