Regulatory Alerts2023-08-24
Circular No. 005-2005 on the Subscription Period and Value Date Mentions in the Information Note
The General Secretariat of the Regional Council for Public Savings and Financial Markets (CREPMF) requires Management and Intermediation Companies to align the subscription period in information notes with the Regional Council's authorization date and distinguish between indicative draft periods and effective final periods. It further mandates that bond value dates occur no later than fifteen calendar days after subscription closes, establishing a strict timeline for market operations. Issuers and SGI firms must incorporate these timing stipulations into all information notes and advertising documents to ensure regulatory compliance.
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