¿Qué es el panel?
It consists of a listing panel for trading shares issued by companies that voluntarily adopt additional Corporate Governance practices beyond those required by Argentine law.
This panel involves the adoption of a set of corporate rules that further protect the rights of shareholders, as well as improve the disclosure of policies and the existence of monitoring and control structures.
Levels of Corporate Governance Panel
There are two Levels of Corporate Governance Panel in BYMA, which we believe are necessary to develop the Argentine capital market. With the development of these Levels and the requirements included, we intend to attract more investors by ensuring rights to shareholders and the possibility for market participants to have more information, seeking to mitigate information asymmetry.
Both levels are governed by the same corporate governance requirements, the only difference between the two consists of:
El capital social del emisor debe estar representado exclusivamente por acciones ordinarias que otorguen derecho a un voto cada una.
Los emisores que en su capital social contengan acciones con voto múltiple o acciones preferidas podrán acceder a otro nivel de listado.
Revenue and maintenance requirements
These rules go beyond the obligations that listed companies must comply with under either the General Corporation Law, the Capital Markets Law or the Regulator's Technical Standards, and are intended to give visibility to those issuers of shares that choose to voluntarily adhere to one of the two Tiers.
- Shareholder dispersion
- Gender diversity in the board of directors
- Directory regulations
- Directory evaluation
- Nominating and Compensation Committee + Rules of Procedure
- Compensation policy
- Nomination policy
- Internal audit function
- Integrity program
- IR and Corporate Governance section on the website.
- Investor Relations Officer
- Annual Report
- Investor Relations Calendar
- Stakeholder briefings
- Dividend policy
Participating stations by level
| EMPRESA | FECHA DE INGRESO | eSTADO | ANEXOS |
|---|---|---|---|
BYMA | 12/2020 | Activate | |
Pampa Energía | 12/2020 | Activate | |
YPF | 12/2020 | Activate |
Regulations and Annexes
- Rules of the Corporate Governance Panel PDF
- ANEX I - Holdings Form (*) PDF
- ANNEX II - Investor Relations Form (*) PDF
- ANNEX III - Investor Relations Calendar (*) PDF
Learn more about ESG products
BYMA promotes the conditions for sustainable finance in the Argentine market through developments and products, and carries out sustainable actions both internally and externally.
Corporate Governance Panel
Integrated by BYMA-listed issuers that voluntarily adopt Corporate Governance practices.
Sustainability Index
In partnership with the IDB, LSEG Data & Analytics and the Earth Institute at Columbia University.
Social, Green and Sustainable Bonds Panel
Integrated by Negotiable Securities whose funds must be destined to finance or refinance projects with social and environmental benefits.
Sustainability-Linked Bond Panel
Bonds whose financial characteristics may vary depending on whether the issuer achieves sustainability or ESG objectives within a predefined timeline.
Voluntary Carbon Market
Facilitates the transition to a low carbon economy by providing incentives for investment in clean technologies, renewable energy projects, among others.
