Nevertheless, they must not receive, directly or indirectly, for their own account or for the account of others, deposits of any kind. They are also prohibited from participating in the execution of passive operations involving the obtaining of funds from the public, and carrying out any kind of advertising relating to their activities in the country. Therefore, banks interested in acting as intermediaries in the primary or secondary capital market, may become Brokers, following the provisions of the CML, its regulations and the rules dictated by the Commission . Under the Third Partial Regulation of the CML, corporations interested in obtaining the authorization to act as Brokers, must be constituted under the form of stock corporations with the sole object of acting as a capital-market intermediary. At least 10 percent of the stock capital of the company must be owned by a public-securities broker duly authorized by the Commission.
Brokers are also subject to minimum capital requirements.
Administration of liquidity funds, created by the issuers of public-offered securities, in order to maintain a minimum price during the initial public offering. Act on their own account as specialists or market-makers. IREL regulates insurance, reinsurance and related activities. According to IREL, insurance and reinsurance activities must be performed through companies duly authorized by the National Executive according to the report of the Superintendency of Insurance. In the same manner, insurance and reinsurance brokerage houses require said authorization.