Jin10 reported on September 18 that the decline in local asset prices in Argentina, the continued existence of capital controls, and the avoidance by foreign investors—these factors are extinguishing hopes for a prosperous Capital Market in the country, and putting immense pressure on small brokerages that had bet on a market recovery following Milei's inauguration two years ago. The Argentine Securities Regulator (CNV) has reminded all brokerages that they must disclose losses exceeding 15% of equity—this regulation aims to promote capital restructuring among brokerages when necessary. Pablo Repetto, head of research at Olum Securities, stated: “In an uncertain environment, the significant Fluctuation of the peso's Intrerest Rate has led to lackluster performance across the industry, and brokerages' losses have exacerbated the increasingly pessimistic financial and political situation under Milei's government.”
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