The nonsupervisory body responsible for regulating the equity market/ exchanges in Argentina is the National Securities Commission (Comisión Nacional de Valores) (CNV) a public body that’s separate from the central government and has governance over Argentina. It’s the self-dependent body under the control of the Secretariat of Finance of the Argentine Ministry of Treasury, created in 1968 by Public Offerings Law No.17.811. Presently, the nonsupervisory frame that governs its operations is related to the Capital Markets Law No.26.831 passed in 2012 and lately amended by the Productive Financing Law No.27.440. 

The CNV supervises; 

• Companies are authorized to issue and offer securities ( including shares) to the public in Argentina. 
• The trading of securities (whether or not similar securities are issued in Argentina) in the Argentinean secondary market request. 
• All people and legal bodies involved by any means in the public immolation of securities ( including IPOs of securities) and secondary market request deals involving securities. 

The CNV’s major aim and mission is to cover investors and promote the development of 

a transparent, inclusive, and sustainable capital  market request that contributes to the

country’s profitable and social progress. 

Legislative structure

Capital Market Law is the main law regulating the conditioning performed in connection with the public immolation of securities. 

In its capacity as controller, the CNV issues regulations (CNV Regulations) which, together with the Capital Market Law (as amended) and other legal sources (the most applicable of which is the Executive Power Decree No 1023/2012), constitute the nonsupervisory frame for the capital market request players and securities traded in the request (including shares). The secondary market requests the trading of securities. In addition, each exchange issues its own regulations that, together with the CNV Regulations, apply to securities deals. 

Main equity exchanges in Argentina 

The main equity exchange in Argentina is the Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires) (BCBA) (www.bcba.sba.com.ar), which works with an associated market request, the Buenos Aires. The Merval is also the most significant Argentinian market request where equity securities handed by corporations are traded. 

The conditions are to be fulfilled by each of the agents involved in market request deals. 

As a general principle, an agent can act and operate within different allowed securities market requests in Argentina, as long as that agent is properly registered and authorized with each applicable sanctioned securities market request. 

The Argentine securities laws don’t have an extraterritorial effect, and, thus, enrollment conditions will only apply to offers addressed to the public or groups of persons located in Argentina. Still, there are many CNV precedents professing violation of the Argentinean securities laws in connection with an implicit offer of securities conducted by a foreign company through the internet, when certain extra exertion is conducted directly or through a chapter in Argentina, notwithstanding the actuality of acceptable disclaimers to limit the offer to those authorities were conducting such an offer would not be banned by applicable law, including Argentina. Still, grounded on an acceptable construction of the Argentinean securities laws, an offer of securities through the internet where acceptable disclaimers are included, and when no extra specific and open marketing exertion is carried out in Argentina, shouldn’t be supposed public immolation carried out in Argentina. 

Benefits of the Allocation of GSS Securities 

GSS Securities ( green, social and sustainable securities) give different benefits not only for issuers but also for investors, The main benefits reported by issuers have been the expansion of the investor base, the enhancement of their character, and the backing of systems through collective finances, good investors, and parties interested in social, environmental or sustainable systems. There’s also primary evidence of benefits in duties for 

certain issuers, driven by strong demand from investors and a limited force. 

In fact, according to the transnational background, bonds with environmental purposes have been Generally oversubscribed. 

Fund Operation 

In order to ensure that assets coming from this type of allocation are used in agreement with the principles agreed upon at the moment of their allocation. These means shall all be allocated to specific accounts or other dependable styles that guarantee traceability and translucency in the use of finances. 

In this way, the issuer shall have a formal process to cover the finances attained 

until their total allocation, making a distinction between the assets invested and those that haven’t been allocated. Assets that haven’t yet been allocated to a design may be invested temporarily in other financial instruments and this information shall have to be given to investors. 

Market requests may withdraw the themed marker if issuers don’t meet the conditions 

specified herein and in the regulations in force set forth by the market requests. 

Thus, a GSS security may lose its marker if; 

• It doesn’t meet the criteria related to the use of finances. 
• It doesn’t misbehave with its reporting scores. 
• it doesn’t misbehave with the measurements stated in the request regulations created to that effect. 

In line with the regulations in force, the CNV reserves the right to apply the 

Applicable correctional measures upon any breach linked under the control of 

the CNV.

Contact details and address

54114329-4600 

www.cnv.gov.ar 

0810-999-2347 

From Monday to Friday from 9a.m. to 4p.m. 

http//www.cnv.gov.ar/sitioWeb/Institucional