CARBAP opposes new CNV restrictions on check use in capital markets

The Confederation of Rural Associations of Buenos Aires and La Pampa (CARBAP) has expressed opposition to new restrictions imposed by the National Securities Commission (CNV) regarding the use of checks in the capital markets.

Under the new regulation (RG N° 1166), bank transfers will become the only authorized method for receiving and delivering funds to and from clients within the capital market. The CNV stated the measure aims to ensure immediate fund availability, eliminate potential check rejections, and strengthen control mechanisms to prevent misconduct.

CARBAP warned that these changes could negatively impact the agricultural sector, which relies heavily on various financing instruments to manage working capital and production cycles. The entity also noted that the restrictions would affect small and medium-sized enterprises (SMEs) and other productive firms. Additionally, CARBAP raised concerns regarding a lack of predictability, noting that the CNV had permitted the use of checks only months prior, and expressed concern over potential increased costs for the productive sector.