Crimes in the Capital Markets: Safeguarding Transparency and Equity

The Argentine Penal Code protects the integrity of our capital markets by punishing various illegal acts:

• Financial Profiteering (Article 309) : This crime refers to the fraudulent manipulation of securities or currency prices. It seeks to prevent practices that artificially alter supply and demand, thus ensuring a fair and undistorted market for all investors.

• Special False Balance Sheet (Article 309) : Penalizes the falsification or provision of misleading information in balance sheets, reports, or documents that must be submitted to authorities or investors within the framework of the capital market. Its objective is to ensure the veracity of financial information, which is crucial for investment decision-making and corporate transparency.

• Use and Provision of Privileged Information (Article 307) : This crime punishes those who use or provide relevant, non-public information (known as "inside information") to obtain benefits or avoid losses in stock market transactions. It protects market fairness by preventing certain actors from obtaining unfair advantages over other participants.

These crimes are essential to preserving investor confidence and the efficiency of the capital market, ensuring an environment of fairness and transparency for economic development.