CONASEV is responsible for maintaining the Registry and determining its organization and operation on the basis of access to information and administrative simplification principles stipulated in Law No. 25035 and Legislative Decree No. 757. Article 15.- Sections. The Registry has the following sections, notwithstanding additional sections that may be established by CONASEV in to adapt to market conditions: a) Marketable securities and issuance programs; b) Intermediation agents in the securities market; c) Mutual funds; d) Investment funds; e) Special purpose entities; f) Investment fund management companies; g) Mutual fund management companies; h) Securitization companies; i) Risk rating agencies; j) Publicly held corporations; k) Securities clearing and settlement institutions; l) Stock exchanges and other entities in charge of operating centralized trading mechanisms; and, m) Arbitrators. Article 16.- Access to Information The information stored in the Registry is freely available to the public. Except as provided in Article 34 hereof, any person has the right to request a copy, whether simple or certified, of the data, reports and documents registered therein. As an exception, CONASEV, following a duly substantiated written notice, may decide to keep certain documents confidential, or reject the issuance of copies, when the disclosure thereof breaches express legal regulations or in the presence of a substantiated assumption that such disclosure shall cause a severe damage to the issuers or third parties. CONASEV cannot keep the confidentiality of significant events or financial information. Article 16A.- Duties to the Clients and the Market. (*) Registry listed securities market players, either receiving or executing investment orders or providing counsel or managing securities on behalf of third parties or independent properties, shall act diligently and transparently in the interest of their clients and to protect market integrity. Furthermore, they shall minimize
CONASEV is responsible for determining the regulations that are not compatible with the nature of electronic trading systems. Chapter II Exchange Session Article 117.- Definition. (*) An Exchange Session is the centralized mechanism wherein the brokerage firms, pursuant to the corresponding internal regulations of the Exchanges, trade securities listed in the Registry, as the case may be, and derivatives previously authorized by CONASEV. (*) Article replaced by Article 18 of Law No. 27649. Article 118.- Frequency. The exchange sessions shall be carried out every day, at the hours determined in the corresponding internal regulations. Such daily schedule can only be suspended through CONASEV resolution on the basis of a force majeure event and strictly for the period defined by circumstances. Article 119. Exchange Session Director. (*) The exchange session is conducted by an exchange officer, known as Exchange Session Director, whose main function is supervising that the trading in such centralized mechanism is carried out in an ordered and transparent manner, and pursuant to the specific regulations on transactions and other applicable regulations. To carry out its functions, the Exchange Session Director is authorized to: a) Issue a final settlement for the matters that arise during the exchange session regarding the transactions’ validity. He/she is authorized to declare the transactions that are carried out against the law and the applicable statutory regulations null and void. b) Enforce the corresponding measures, pursuant to the exchanges’ internal regulations approved by CONASEV. c) Suspend the trading of one or several securities or the entire exchange session pursuant to the regulations on the matter. d) Suspend a brokerage firm on the basis of the information provided by the Securities Clearing and Settlement Institution (ICLV) regarding the non-compliance by such firm in the settlement of transactions or reimbursement of guarantee margins, in accordance with the exchanges’ internal regulations. e) Others determined by CONASEV through general provisions. The Exchange Session Director shall have operating and administrative autonomy and independence, and inform and report to the board of directors or steering council of the corresponding exchange. (*) Article amended by . Article 120.- Repealed by the . Article 121. Appointment. (*)