FORM 6-K
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                        REPORT OF FOREIGN PRIVATE ISSUER

                    Pursuant to Rule 13a-16 or 15d-16 of the
                         Securities Exchange Act of 1934

                         For the month of January, 2007

                        Commission File Number: 0-30852

                          GRUPO FINANCIERO GALICIA S.A.

                          Galicia Financial Group S.A.
                 (Translation of registrant's name into English)

                          Tte. Gral. Juan D. Peron 456
                       (C1038AAJ) Buenos Aires, Argentina
                    (Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

                           Form 20-F X   Form 40-F ____
                                    ---

Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                                 Yes ___   No X
                                             ---

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):  82- ________



                                    FORM 6-K

                           Commission File No. 0-30852


On January 18, 2007, the Comision Nacional de Valores of the Republic of
Argentina (the local securities regulatory agency, hereinafter, the
"Commission") notified Grupo Financiero Galicia S.A. (the "Company") of the
passage of Resolution No. 15.557 of the Commission, dated January 11, 2007 (the
"Resolution") regarding the initiation of investigation proceedings by the
Commission against the Company, the members of the board of directors of the
Company, the members of the supervisory committee of the Company and Banco de
Galicia y Buenos Aires S.A. (the "Bank"), the main subsidiary of the Company,
the members of its board of directors and the members of its supervisory
committee. Pursuant to the Resolution, the Commission has ordered the
commencement of an investigation, with respect to the entities and persons noted
above, with respect to potential violations of various regulations relating to
possible wrong use of information and the possible insufficient disclosure of
information, in each case, relating to the open market purchases and sales by
the Company of notes due 2014 and 2019 held by the Company and issued by the
Bank (the "Purchase and Sale").

Both the Company and the Bank believe that the investigation initiated by the
Comission is not supportable by the facts and that all actions taken by the
Company, the Bank, their respective directors and supervisory commitee members
with respect to the Purchase and Sale were in accordance with law and all
applicable regulations. The Company believes that the Commission has made an
erroneous interpretation of the transactions contemplated by the Purchase and
Sale, which were duly informed to the market and the Commission as required and
in accordance with applicable law and regulations.

For the reasons articulated above, the Company does not believe that these
proceedings will have any material adverse effect on its financial condition or
on its operations or business. The Company intends to promptly respond to the
Comission's pleadings, provide an explanation of the transactions that are the
subject of the investigation and demostrate the proper compliance by the
Company, the Bank, their directors supervisory comiteee members with all the
applicable laws and regulations, while vigorously defending its rights. The
Company has until February 14, 2007 to respond to the Commission's pleadings.
The board of directors regrets not to have had the chance to provide an
explanation of the facts before the decision of the Commission was taken.

This is a brief description of the Resolution made from the original version
written and expressed in Spanish. Consequently, any matters of interpretation
should be referred to the original version in Spanish available at
www.cnv.gov.ar



                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                               GRUPO FINANCIERO GALICIA S.A. (Registrant)



Date:  January 23, 2007        By: /s/Antonio Garces
                                  -----------------------------
                                  Name:  Antonio Garces
                                  Title: Chief Executive Officer