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Legal and regulatory framework

The marketing and sale of structured products in Argentina, as well as the purchase of such instruments by Argentine investors, are subject to different legal and regulatory frameworks.

The Capital Markets Law No. 26,831 (as amended) (the Capital Markets Law) and the Argentine Securities Commission (CNV)'s Rules (Resolution No. 622/2013, as amended) (the CNV Rules) govern the requirements necessary for public offering and marketing structured products that qualify as 'securities'. In addition, in the case of mutual funds, the Mutual Funds Law No. 24,083 (as amended) (the Mutual Funds Law) is also applicable. Structured deposits offered by financial institutions are governed by the Financial Entities Law No. 21,526 (as amended) (the Financial Entities Law) and the Argentine Central Bank's (BCRA) regulations.