2023-09-22 22:53:39
This Friday, the National Securities Commission (CNV) authorized adolescents between the ages of 13 and 17 to invest in mutual money market investment funds or money market (FCI Money Market).
These types of financial instruments provide a return on available balances, without having to wait a specific period to access the deposited money.
In this way, minors will add a new digital investment and savings tool, since until now they could only open savings or fixed-term savings accounts, which, although they provide a higher return than the FCI Money Market, the former do not admit the withdrawal of the money invested prior to 30 days, at least.
The regulation was published this Friday in the Official Gazette, through general resolution 977/23 of the CNV, which enables adolescents to subscribe through the Internet and with prior authorization from the legal representative.
In all cases, the bank account with CBU or the CVU payment account – typical of virtual wallets -, owned by the adolescent, must be linked to that of their legal representative.
Even so, the possibility of subscribing quota shares without the intervention of their legal representatives, for an amount of up to a Minimum Living and Mobile Wage (currently $118 thousand), will only be available when the regulatory framework is operational, which must be approved by the Central Bank (BCRA). ).
The option of investing in this type of FCI was popularized by virtual or fintech wallets such as Mercado Pago, Ualá, Naranja invested in the accounts.
According to the Central Bank’s latest Retail Payments Report, balances invested in FCI money reached $317.5 billion in June, more than double the $154.8 billion invested at the end of January this year.
Openness and financial education
“This standard also establishes guidelines and requirements, and financial education requirements on investing in Open FCIs and the risks related to this type of investment,” CNV sources explained to the official agency Télam.
In this sense, the regulations establish that “ carried out for the promotion and marketing of the FCI, regardless of the medium used, may in no case be directed specifically and/or exclusively to minors, and must guarantee the dissemination of identical content and information to the entire investing public.”
And he adds that “particularly, the modality used must provide the authorized minor with information about the main characteristics of the Fund and the possible risks that this type of investment represents; “must necessarily have a mechanism that allows verification, prior to the subscription of the shares, the confirmation of their reading.”
1695423842
#Adolescents #years #invest #mutual #funds