meta_id 3231878

On June 10, 2026, Argentina's National Securities Commission (CNV) implemented new regulations to strengthen market transparency and integrity by restricting certain entities' trading activities to guaranteed settlement segments. The measure applies to "Restricted Entities," which include: public entities covered under articles 8(a) through 8(d) of Law 24,156 and non-state public entities (excluding state-owned enterprises whose shares trade on CNV-regulated markets); provincial, municipal, and Buenos Aires City entities that would have been classified as national entities under the above criteria; and pension funds and other entities channelling non-state mandatory pension contributions. Financial entities regulated under the Financial Entities Law and the Guarantee Fund for Deposits (FGS) are excluded from these provisions. Under the new framework, securities brokers (ALyCs) and securities agents (ANs) are prohibited from registering Restricted Entities' transactions in unguaranteed bilateral trading segments. All such operations must now occur through guaranteed settlement segments operated by the market or clearing house acting as central counterparty. The regulations establish specific trading protocols designed to enhance transparency, competition, traceability, and fair price formation in securities transactions, prioritising open and competitive trading mechanisms. Roberto E. Silva, CNV president, said the measure aims to strengthen market transparency and integrity by reducing risks associated with irregular practices and ensuring efficient execution under market conditions with minimal market impact. The regulations are established under CNV General Resolution 1,151 (RG N° 1,151).