The Financial Information Unit Adapted The Regulations Aimed To Agencies Of Supervision And Control

Author:Mr Fermin Castro Madero and Francisco Abeal
Profession:Marval O'Farrell & Mairal
 
FREE EXCERPT

The Financial Information Unit partially amended rules which regulate the obligations imposed by Law No. 25.246 on the Central Bank of Argentina, the Superintendent of Insurance and the Securities and Exchange Commission.

On May 30, 2012, Resolution No. 92/2012 ("Resolution 92") of the Financial Information Unit ("UIF"), which partially amends Resolutions No. 12/2011 ("Resolution 12"), No. 19/2011 ("Resolution 19") and No. 22/2011 ("Resolution 22"), was published in the Official Gazette.

Resolution 92 mainly amends the definition of "client" provided in the above mentioned resolutions, replacing Subsection b of Section 2 of each of them.

In the particular case of Resolution 12, that regulates the obligations of the Central Bank of Argentina ("BCRA") as an obliged subject, Resolution 92 states that "clients of the Central Bank of Argentina are all entities governed by Law No. 21.526 and Law No. 18.924 as amended, and all individuals and legal entities under its regulation, supervision, and/or control".

In addition, Resolution 92 replaced the definition of "client" for the Superintendent of Insurance ("SSN", to which Resolution 19 is applicable) and provides that clients are "individuals and legal entities regulated by Law No. 17,418, Law No. 20,091, Law No. 22,400 and Law No...

To continue reading

REQUEST YOUR TRIAL