The Observer – Montevideo
The Central Bank of Uruguay, BCU, updated the regulations that regulate the simplified securities regime and the use of collective financing platforms or crowdfundingwith the objective of facilitating access to credit for small and medium enterprises (SMEs) and financial trusts.
The BCU announced a series of regulatory modifications to make the functioning of collective financing, known as crowdfunding, flexible, known as crowdfunding, with the objective of expanding access to credit for small and medium enterprises, financial trusts and new investor profiles.
One of the main changes is the increase in the maximum emission amount per issuer, which goes from 10 million to 20 million indexed units, equivalent to about US $ 128 million. Likewise, the universe of eligible companies is extended to issue under this regime, allowing access to companies with annual revenues of up to 75 million IU, about US $ 477 million.
In addition, the regulations enable financial trusts for the first time to operate through collective financing platforms, allowing them to issue various instruments such as debt, participation certificates and mixed titles. This represents a significant extension of the use of crowdfunding as an alternative of structured financing.
