Argentina coach Lionel Scaloni and Chile boss Ricardo Gareca were suspended for one match each after their teams' late arrival to the field of play during the Copa America, CONMEBOL said in a statement on Friday.
Defending champions Argentina emerged late for the second half of their Copa America opener against Canada last week, and coach Jesse Marsch said that Scaloni's side should be fined.
Gareca was late in bringing on a player at halftime against Argentina on Tuesday.
The governing sports body said that both coaches are suspended for one match each after their teams failed to comply with articles 104 and 145 of the tournament's regulations, which relate to taking the field "later than the scheduled start or restart time."
They will not be able to feature on the substitutes' bench when their sides complete the group stage of the competition on Saturday.
In addition, the Argentine and Chilean football federations were fined $15,000 each.
Argentina top Group A with six points and have already qualified for the quarter-finals. They face Peru on Saturday, while Chile, with only one point, will take on group runners-up Canada.