Regulatory Alerts2024-12-30
Added · Updated
Compilation of Securities Market Rules – Reopening of Series Subscription in Public Offering Securities Issuances
The Superintendency of Financial Services replaces Articles 11 and 12 of the General Securities Registration section to update post-registration information timelines and prospectus content requirements, and substitutes Article 16.8 to align crowdfunding platform prospectus disclosures. The resolution incorporates a new Chapter III bis establishing specific procedures for the reopening of series subscriptions in public offering debt issuances under both general and simplified regimes, as well as through crowdfunding platforms. It further updates Article 59.5 to define the responsibilities of crowdfunding platform administrators regarding compliance verification and reporting, and replaces Article 115 to revise the minimum information required in financial trust prospectuses.
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