Any financial intermediation activity in Argentina should be conducted by local legal entities duly registered and licensed by the Argentine Central Bank. As stated in Section 13 of the Financial Entities Act, any foreign financial entity intending to promote its banking services and products in Argentina must first request the Argentine Central Bank’s authorization. Once the authorization is granted, the entity will be allowed to give advice, analyze and manage financing and guarantees, as well as to carry on any other business of the foreign entity. A representative may not, however, perform specific banking activities, including any action that directly or indirectly enables the representative to intermediate or raise funds in the local market.

With regard to securities, prior registration is required to operate in the Argentine capital market. The request for authorization to operate as a broker or other type of agent must be submitted to the Argentine Securities Commission for its analysis and approval. 

Currently, private offering is not specifically regulated in Argentina, although the Argentine Securities Commission is authorized to do so pursuant to the Capital Markets Act. Following the same, certain "reverse solicitation" guidelines shall be followed both by local and foreign entities to reduce the risk of falling under "public offering" structures that trigger mandatory compliance with the Capital Markets Act's provisions and the Argentine Securities Commission's regulations.