Argentine Securities Commission Amends Regulation on AML/TP

On October 22, 2024, General Resolution 1026 issued by the Argentine Securities Commission (CNV) became effective, removing from the CNV Regulations (NT 2013 and mod.) those subjects that Decree 891/2024 had removed from the list of reporting entities of the Financial Information Unit belonging to the capital market.

Therefore, the followings will now be reporting entities (SO):

a) Trading Agents,

b) Broker-dealers (ALyC) and other brokers that carry out similar functions,

c) Placement and Distribution Agents (ACDI) acting in the placement of Mutual Funds or other collective investment products,

d) Global Investment Advisors (AAGI) and other legal entities responsible for opening the file and establishing the client's risk profile on prevention of money laundering, financing of terrorism, and the proliferation of weapons of mass destruction,

e) financial trustees included in Chapter 30 of Title IV of the Third Book of the Argentine Civil and Commercial Code, as amended, acting in such capacity in financial trusts with public offering authorized by the CNV,

f) Crowdfunding Platforms and other legal entities authorized by the CNV to act within the framework of crowdfunding systems by means of web portals or similar, with the main purpose of connecting, in a professional manner, a plurality of individuals and/or legal entities acting as investors with individuals and/or legal entities requesting financing as crowdfunding entrepreneurs,

g) Virtual Asset Service Providers.