On August 21, 2023, the Superintendency of Securities (the "Superintendency") issued Resolution CNV No. 41/23, in order to set forth with greater clarity the processes exempted from the collection of fees.

Among the most relevant provisions, the Superintendency established that Certificates of Savings Deposits issued by financial institutions under the supervision of the Superintendency of Banks, Quota Shares of mutual funds and Financial Derivative Contracts are exempted from the payment of fees for the registration of securities issued, provided that the latter are traded or listed in a stock exchange authorized by the CNV.

In addition, the Superintendency clarified that Stock Market Advisors, operators of brokerage firms, operators of commodities brokers and Multilateral Organizations, where the Republic of Paraguay is a party, are exempted from the payment of fees for the application for registration and maintenance of the registry.

It should be noted that this Resolution was formally issued by the National Securities Commission, which was replaced in its functions by the Superintendence of Securities, created on September 1, 2023 with the enactment of Law No. 7162/2023.