The maximum fine was last changed in 1991. Since then, the wholesale price index has changed by more than 78,000%.
The IGJ considers that the new amount of the fine is sufficient to fulfill its purpose.
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Through the Decree 609/2024 The General Inspection of Justice (IGJ) updated the maximum amount of the fine that can be applied to capitalization and savings companies.
Thus, the Government increases the maximum amount of the fine from $11,543.86 to $8,000,000. The update is based on the variation of the wholesale price index, general level, prepared by INDEC.
According to the official text, the objective of the update is for the fine to have “an exemplary and deterrent effect“This is an increase of 680 times the maximum amount of fines.
Key points of the text
- The maximum fine amount was last changed in 1991. Since then, the wholesale price index has changed by more than 78,000%.
- The IGJ considers that the new amount of the fine is sufficient to fulfill its purpose.
The measure was discussed with the General Directorate of Legal Affairs of the Ministry of Justice and the decree came into force on July 12, 2024, upon its publication in the Official Gazette.
Source: Ambito
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