Glossary · Argentina
CNV (Comisión Nacional de Valores)
Definition
Argentina's securities regulator. Because most Argentine startups structure through a foreign (often Delaware) holding company, the CNV rarely enters into a secondary transaction at all.
Why it matters for a secondary
A secondary in an "Argentine" startup is usually a transfer of shares in a US or offshore holdco under familiar law — not an Argentine-regulated transaction.
Frequently asked questions
Does this term apply the same way everywhere in Latin America?
No. Each country in this glossary has its own regulator, corporate forms, and tax rules — this term is specific to the country tagged above. Check the linked country page for the fuller picture.
Is this legal or tax advice?
No. This is orientation for investors and allocators, not legal or tax advice. Confirm current rules with a licensed adviser in the relevant country before acting on anything here.