MercoPress

Wednesday, October 24, 2012

The benchmark dropped 3.6% to 2.368.96 at the close of Tuesday trading in Buenos Aires, its steepest decline since November 2011.

A bill will be sent to Congress that replaces self- regulation of issuers and brokers with a greater role for the regulatory agency known as CNV. The proposal would also make trading cheaper, interconnect markets and eliminate the requirement for brokers to be stakeholders in exchanges, Economy Minister Hernan Lorenzino said Monday in televised comments, next to President Cristina Fernandez.

“We want to generate a big change in line with major global markets and the expansion of channels that the general public can access,” the minister said. “We are going to propose that the markets themselves operate as corporations and have the obligation to propagate their activities”.

To view full text of this article, visit Cristina Fernandez triggers further uncertainty and fears to markets and investors