BYMA launches the first Corporate Governance Panel in Argentina.

BYMA identity


This unprecedented Corporate Governance Panel will include stocks of listed Companies which comply with corporate governance and transparency requirements additional to the ones set forth in the Argentine legislation. The adherence to this Panel is voluntary and entails regular monitoring.

Bolsas y Mercados Argentinos (BYMA) has launched its Corporate Governance Panel (GC for its Spanish acronym), a trading panel including stocks of listed Companies which comply with corporate governance and transparency requirements additional to the ones set  forth in Argentine laws and regulations.  This unprecedented development in Argentina is aligned with international standards.

Companies’ adherence is voluntary and implies the fulfillment of a set of requirements aligned with the Corporate Governance principles of the Organization for Economic Cooperation and Development (OECD), also adopted by the G20.

Said principles are: gender diversity within the Company´s Administrative Body, Nominations and Remuneration Committee, Remuneration Policy, Nominations Policy, Dividend Distribution Policy, Integrity Programs, Ownership structure dispersion, the assessment of the Board of Directors and the Annual Report, among others.

New Corporate Governance Panel  – BYMA, Pampa Energía and YPF in the launch event.

Companies willing to be part of this new panel shall enter into an agreement with BYMA by means of which they commit to self-regulation. This includes submitting reports to BYMA on a regular basis on the compliance of said regulations.

As regards implementation, BYMA Corporate Governance Panel will include two levels: +GC and GC. The difference between the levels is that +GC will include companies with common shares of stock with one vote each, and GC will admit companies which capital stock is composed either by common or preferred stock.

Corporate Governance principles protect minority shareholders’ interests, provide for a wider dissemination of policies, and foster the implementation of monitoring processes and methods within corporate structure.  Based on these aspects, investors gain direct access to wider information in order to exercise their rights and to make investment decisions. Added to this, the panel also strengthens companies’ visibility and make them more attractive to international investors.

In this sense, Ernesto Allaria, BYMA Chairman, said: “We are absolutely committed to complying with Corporate Governance best practices since they foster the sustainable growth of both: companies and their shareholders. BYMA was one of the first companies to be included in the panel”.  BYMA Chairman also added that: “Launching this Corporate Governance Panel puts BYMA on a par with pioneer markets in these matters, such as Brazil. This initiative represents a step forward in regard to our aim of fostering the evolution of the capital market.”

This panel promotes the strengthening of corporate practices in five different aspects: commitment with corporate governance, Board of Directors structure and performance, overall control environment, transparency and dissemination, as well as the protection of shareholders rights.


Corporate Governance Panel (CGP)
Corporate Governance Data Market