At the 21st Capital Markets and Corporate Finance Symposium hosted by the Instituto Argentino de Ejecutivos de Finanzas, Argentina Securities Commission (CNV) chair Roberto E. Silva used his opening address to recap regulatory work to modernise, flexibilise and deregulate the capital markets, while maintaining transparency and investor protection. Silva cited growth in private financing via the capital markets, reporting a 34% increase in 2025 after a 42% rise in 2024, for a cumulative 90% increase and the highest level since 2018. He highlighted board-backed initiatives including the Automatic Public Offering framework, a proposal put out for public consultation to allow crowdfunding within the low- and medium-impact automatic public offering regime, a specific regime for “super qualified” investors, greater flexibility in naming financial trusts, deregulation and simplification for issuers, and a reordering of CNV rules to repeal or amend provisions deemed obsolete, unnecessary or redundant. He also pointed to ongoing work to regulate Labour Assistance Funds (FAL) within the capital markets and to implement the Fiscal Innocence Regime in this context, and referenced enforcement actions including “historic” sanctions against certain ALYCs for taking clients’ securities without consent and a cease order against a virtual asset service provider (PSAV) and the issuer of the ARGt virtual asset after ARGt was treated as a negotiable security without CNV authorisation.
Argentina Securities Commission (CNV) 2026-03-19
Argentina Securities Commission chair outlines capital markets deregulation agenda and recent enforcement actions at IAEF symposium
At the 21st Capital Markets and Corporate Finance Symposium, CNV chair Roberto E. Silva outlined efforts to modernize and deregulate Argentina's capital markets while ensuring transparency and investor protection. He reported a 90% increase in private financing since 2018 and highlighted initiatives like the Automatic Public Offering framework and crowdfunding proposals. Silva also discussed regulating Labour Assistance Funds and enforcement actions, including sanctions against ALYCs and a cease order against a virtual asset service provider.