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Bradesco gains Argentine brokerage license

Banco Bradesco SA obtained a brokerage license from Argentina's market regulator to operate on the domestic exchange, Citywire reported.

The license is expected to pave the way for the bank's immersion in the country's advisory market, according to the report, as Bradesco will be able to manage orders on its own account and on behalf of its clients, as well as to commercialize foreign assets.

The regulator, known as Comisión Nacional de Valores, or CNV, granted the Brazilian bank the permission to operate as a Liquidation and Compensation Agent and as an Own Trading Agent.

Bradesco owns a subsidiary bank in Argentina, Banco Bradesco Argentina SAU, as well as an insurance firm, Bradesco Argentina de Seguros S.A.