In the midst of efforts to stop illegal maneuvers in the exchange market.
With the aim of imposing stricter control in the exchange market and avoid maneuvers with the illegal dollar, The Government added one more effort through the Financial Information Unit (UIF) on exchange houses and their operations. The measure also arises due to deficiencies in the reports, so the standard reinforces the requirements to banks and exchange houses.
It is worth remembering that the Government has been working hard with different tools in the city through the UIF and AFIP. In this context, this Friday it was published in the Official bulletin the Resolution 174/2023, which obliges entities subject to the regime of Law No. 18,924, in their capacity as Obliged Subjects to inform the UIF about its operations throughl electronic trading system “SIOPEL” of ELECTRONIC OPEN MARKET SA.
Resolution is an important step in the fightagainst money laundering and terrorist financing, supports the official text. This, by requiring exchange houses to inform the FIU about certain operations, which will help the authorities to identify and prosecute illicit activities.
The information that exchange houses must report includes customer’s personal datainformation about the operation and the transaction amount. This information will help the FIU to identify suspicious patternssuch as unusual or repeated operations, which can be indicators money laundering or terrorist financing.
The resolution is based on Law No. 25,246, which establishes the obligation of obligated subjects to report suspicious information to the FIU. The resolution is also based on Communication A 7828 of the Central Bank (BCRA), which establishes that Operations between exchange houses must be carried out through SIOPEL.
Dollar: the detail of the norm
Failure to comply with the resolution may lead to sanctions, such as fines or suspension of authorization to operate.
Specifically, the resolution requires entities subject to Law No. 18,924, which are exchange houses, to send to the FIU, before October 6, 2023, the following information about their operations through the SIOPEL:
- Identification data of the entity and the operation.
- Identification data of the clients participating in the operation.
- Identification data of the account holders used for the settlement of the operation.
- Amount and date of the operation.
- This information will be sent through the FIU’s Operations Reporting System (SRO).
What is SIOPEL?
He SIOPEL It is an electronic trading system developed entirely by MAE (Electronic Open Market, in which foreign currency and securities are negotiated) that allows carrying out transactions with all kinds of instruments.
The majority of entities authorized to operate in exchanges They already use SIOPEL for its operations. At the end of August, the BCRA eliminated the exception for some houses and exchange agencies.
Source: Ambito
