TITLE: Argentina's National Securities Commission Initiates Abbreviated Summary Proceedings Against MT CAPITAL S.A. for Regulatory Non-Compliance
BODY:
On November 2025, Argentina's National Securities Commission (Comisión Nacional de Valores, CNV) initiated abbreviated summary proceedings against MT CAPITAL S.A., a trading agent (Agente de Negociación), and multiple individuals for alleged regulatory violations.
The proceedings stem from investigations conducted following a 2020 memorandum from the CNV's Markets and Agents Management Division regarding findings from an audit by MATBA ROFEX S.A. (now A3 Mercados S.A.). MT CAPITAL S.A. was provisionally suspended on October 7, 2021, and its registration was terminated on November 1, 2022, following findings of multiple compliance failures.
The alleged violations include: failure to publish annual financial statements for 2020 and 2021 with independent auditor reports; non-submission of portfolio valuation forms for 2020, 2021, and 2022 to the Financial Information Superhighway (Autopista de la Información Financiera); non-submission of client quantity forms for multiple quarters in 2021 and 2022; failure to publish director, auditor, and manager rosters for 2020-2022; failure to meet minimum net equity requirements; failure to report relevant facts regarding operational suspension; and non-submission of compliance officer reports for 2019, 2020, and 2021.
The CNV charged MT CAPITAL S.A. directors Guillermo Fernando Aquino and Lucas Alan Martino with multiple violations under the Securities Law (Ley N° 26.831) and CNV regulations. Director Gastón Maximiliano Vai faces separate charges related to information reporting requirements. Statutory auditor María Eugenia Balkunas was charged with breach of supervisory duties under the Commercial Companies Law (Ley N° 19.550).
A preliminary hearing is scheduled for November 19, 2025, at 11:00 hours. The abbreviated procedure applies where alleged infractions fall within the CNV's specified grid of violations and no economic benefit or investor harm is evident. Dr. Jennifer E. Ibañez was designated as the proceedings conductor.