The warning is preventive in nature and will take effect starting this Thursday.
The National Securities Commission (CNV) increased the fines for those infractions contemplated in the “Grid of Infringing Conduct subject to Abbreviated Summary Procedure.”
According to Resolution 998/2024 published in the Official bulletin, The warning could not be greater than 10 million pesos, which corresponds to the so-called “administrative sanctioning right” which is preventive in nature.
According to the regulatory body, the purpose of the “punitive component” that is its own is accessory or auxiliary to the order and development in the management in matters that are specific to the administrative authority, and constitutes a complement to the regulatory and enforcement powers delegated by law to administrative agencies; The content of the administrative injustice and the purpose of the sanction are inseparable from the purpose of such regulations since the sanction is ordered to ensure compliance” (Alejandro Nieto “Sanctioning Administrative Law”. Editorial Tecnos, Madrid, 2005).
The purpose of the sanction is not corrective but exemplary, preventive or dissuasive, to prevent similar conduct from being incurred in the future, and it must be considered, in the particular case of the sanction of a fine, that the amount anticipated to be appropriate in order to achieve a persuasive effect that achieves the maximum duty of diligence in the regulated subjects in compliance with the rules.
CNV: what will be taken into consideration to apply the fine
In order to graduate the amount of the fine to be applied, the following grading guidelines will be taken into consideration:
a) Those established by article 133 of Law No. 26,831.
b) The number of recognized behaviors that constitute violations.
c) If there was correction regarding the non-compliance.
d) The adoption, by the summaries, of measures aimed at correcting the infractions that motivated the investigation of the summary.”
It is also clarified that this General Resolution will come into force as of April 18.
CNV: what are the offending behaviors
Source: Ambito
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