They seek to attract technology companies with specific funding vehicles
After launching its innovation hub as an initial kick to start fix fintech and cryptocurrencies, the National Securities Commission (CNV) works to develop capital market vehicles allowing financing in these industries.
This was announced by the head of the agency, Adrian Cosentinowhich explained that as soon as possible the current regulations will be changed to attract this type of company.
In a presentation to the press, which made the balance of management in the first three months of this year, the agency expected that A specific regime will be launched to encourage companies in the knowledge economy.
There will also be changes to the intermediate regime intended for medium-sized companies and the creating a “duplicate list”which relaxes the requirements for foreign companies.
“There’s a constellation of startups with a unique nature that brings a lot of knowledge and value from innovation. They’re the companies that often have to deal with important restrictions when accessing credit, for being companies with no history and no collateral required by banks. The capital market plays an important role there, ”Cosentino said.
Regarding the recently unveiled hub, Cosentino said: “We are working with different markets and stock market players and we have a tandem of very interesting initiatives, which will allow us to move forward with a policy of promotion of products and assets aimed at reaching the public offerwhich is our area of competence, incorporating crypto and blockchain concepts ”.
In this sense, Cosentino acknowledged that crypto regulation is “under permanent study”: “With all regulators, we keep a close eye on how the phenomenon develops. There the regulator must define what it intends to do. in terms of policy defining What is the best application for developing capital markets to allow efficient risk management and does not lead to opportunistic situations and fraud“, he claims.
And he added: “Our duty is to be a market advocate. That’s why we work on customized funding vehicles, to venture capital vehicles aimed at financing such activities, to new companies with great potential to grow ”.
More financing for SMEs
According to data released by CNV, so far this year has increased the number of small and medium -sized companies financed in the local capital market, where in the first three months of 2022, there are 13 new companies issuing of Negotiable Obligations (ON) for total amount of $ 25,542 millionof which 11 are SMEs.
In the same period of 2021 they will Only 4 SMEs which issued financing products, while volumes for all companies grew 83% in the first quarter of the current year, above nominal prices in the economy, indicating that “there is real growth in the number of actors and managed financing ”, Cosentino explained.
“We are permanently increasing the participation of SMEs in the capital market,” assured the head of CNV, who also highlighted the creation of nine programs Argentine Certificates of Deposit (Cedears) of ETFs (Exchange Traded Funds), which representative of the assets of negotiable securities not authorized for public offer in the national territory.
“This is something new in the Argentine market because it allows us to diversify the product offering, offer new options to investors and create new transaction volume. We are constantly evaluating. the dynamics of these products and surely there will be news in the coming months relating to the Cedears“, Cosentino pointed out.
In total, there were 13 companies that issued peso bonds worth $ 25,542 million in the first quarter of 2022, while another 13 companies issued dollar bonds for nearly $ 500,000 and one company issued bonds arranged for UVA in the amount of $ 5 .7 million.
In the SME Regime, ten ONs were placed in the amount of $ 638 million and five for US $ 31 million, of which 12% of the amount placed in dollars was under the “Guidelines for Issuance of Social, Green and Sustainable Negotiable Securities in Argentina “For a period of 10 years.
Currently, the Mutual Funds (FCI) industry manages total assets of $ 4.2 trillion distributed in approximately 652 fundsof which 48 are SME funds that draw resources from the market for $ 133,000 million exclusively for funding small and medium -sized companies.
NE
Source: Clarin
