Overview
- The CNV determined that ALyC Daniel A. Casanovas y Asociados S.A. disposed of clients’ negotiable securities without the specific authorization required by regulation.
- Using the statutory multiple-of-benefit method, the board set the sanction at about ARS 1.009 billion—roughly ten times the usual ARS 100 million cap after calculating illicit gains near ARS 672 million.
- The resolution disqualifies directors Daniel Andrés Casanovas, Fernando Agustín Gatti and Silvina Mariela Casanovas for five years and bars both the firm and its directors from operating in the market.
- CNV president Roberto E. Silva said grave breaches warrant exemplary penalties, emphasizing that unauthorized use of investor assets violates core custody, recordkeeping and instruction-execution principles.
- The action aligns with a June 2025 decision in the Guardati Torti S.A. case that used the same multiplier approach and is separate from prior judicial investigations reported involving Daniel Casanovas.