National Securities Commission issues new environmental-related rules
The National Securities Commission issued General Resolution No. 559 that requires companies registered in the public offering regime, whose corporate purpose includes activities considered risky for the environment, the duty to inform the fulfillment of certain obligations set forth by the environmental regulations.
These companies shall inform their shareholders, investors and to the public, as a relevant fact and also in the prospectus information regarding: (i) the fulfillment of environmental audits, (ii) the adequacy programs and their schedule, (iii) the hiring of an environmental insurance pursuant to section 22 of Law No. 25,675, and (iv) the measures adopted by the company to prevent any environmental damages.
For further information on this topic please contact María Rosa Villegas Arévalo and María Morena Del Río