Overview
- CNV General Resolution 1091, published in the Official Gazette, authorizes adolescents to subscribe to a wider range of open mutual funds beyond money market options.
- Subscriptions require explicit authorization from a legal representative, linkage between the minor’s account and the representative’s account, and systems that flag orders placed by the minor.
- Legal title to fund shares remains with the representative until the minor turns 18, when ownership transfers automatically and at no cost.
- Closed‑end funds and vehicles for qualified investors are excluded, and trades must be executed for cash in regulated market segments, according to the resolution.
- Placement platforms must prohibit youth‑targeted marketing, present clear risk warnings, verify that minors read fund information, and provide non‑promotional education content, while market experts stress the need for strong financial literacy.