December 2024

Argentina Substantial Shareholdings

Information

Argentina’s General Resolution 1035/2024 is easing the reporting requirements for holdings in publicly traded companies, modifying Capital Market Law No. 26,831. Starting December 16, 2024, once an initial 5% stake is reached, shareholders only need to report changes when their holdings hit multiples of 5% (like 10%, 15%, etc.) until they become a controlling shareholder. This replaces the current rule requiring disclosure of any change, no matter how small. The resolution also extends the disclosure deadline (including the initial 5% report) to 10 business days until controlling status is achieved, instead of the current “immediate” reporting.

Finally, it introduces an electronic portal for submissions, with paper forms as a backup and simpler power of attorney documentation.

Our Thoughts

This resolution simplifies and increases the efficiency for reporting.

The above content is purely for information and does not purport to offer legal or professional counsel.