El Síndico: The Protector of Argentine Shareholders and Members?

Argentina’s National Constitution may be modeled after the U.S. Constitution but the South American nation’s corporate law draws primarily on the legal tradition of Continental Europe.  Beyond its similarity as a “code-based” legal system, much of Argentina’s procedural and substantive rules are specifically inherited from legal systems reformed by the Napoleonic reign. One such remnant of this inheritance is the síndico. The figure of a síndico is completely foreign to U.S. and other common law jurisdictions. Who are these people and what do they do?

The síndico is often translated as “statutory auditor.”[1] This is a misnomer, as a syndic is neither an external nor internal auditor. Internal and external auditors examine financial documents to […]

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