CLB SFC Simplified Prospectuses for Recurring Issuers
Published on: Sep 4, 2026
On Sep. 2, CLB SFC published disclosure requirements for recurring issuers.
CLB SFC issued Bulletin 831, containing External Circular 008, on simplified prospectuses for recurring issuers under the Basic Legal Circular (CBJ).
Implementation of Decree 1239, of 2024 and External Circular 011, of 2025, supporting greater capital market efficiency, liquidity, and issuer access.
Simplified Prospectuses
Recurring issuers may use simplified and standardized prospectuses for eligible public offerings under the CBJ framework.
Accelerated Offerings
Eligible offerings of ordinary bonds and commercial paper may be conducted on the business day following the filing of required documents with CLB SFC.
Filing Requirements
Issuers using the simplified format must submit prospectuses through the CLB SFC online form and comply with formatting limits.
Disclosure Regime
For issuers registered in the National Registry of Securities and Issuers (RNVE), prospectus content is limited to securities, offering details, and required approvals.
CBJ Amendments
Adds subsections 2.2.5, 2.4, and 2.5 to the CBJ, establishing additional requirements and procedures for recurring issuers.
Compliance Considerations
Recurring issuers should review prospectus preparation and filing processes to ensure compliance with the new standardized format.
Market participants seeking to benefit from accelerated offering timelines should prepare for implementation before the Oct. 2026 effective date.
Effectiveness
External Circular 008 and related CBJ amendments enter into force on Oct. 30, 2026.
