The National Securities Commission (CNV) issued a clarifying resolution on Wednesday on the implementation of money laundering in the capital market. It provides that while stock exchange companies may receive money in special accounts, Once an investment has been made, if there is a remainder, it will have to be deposited in a Special Asset Regularization Account (CERA) of a bank. There will be a period of 10 days for this.
The regulations are aimed at operations with funds from money laundering carried out by the capital market clearing and settlement agents (ALyCS), which will have which must be deposited into a special bank account whenever a certain limit is exceeded and once the 10-day period has elapsed.
“With the issuance of RG No. 1017, the CNV complements the provisions of the Regime for the Regularization of Assets in the Capital Market, addressing the “treatment to be given to the liquid balances available in the Special Accounts for Asset Regularization”, the regulatory body reported.
Through a statement, the CNV explained that “in response to requests from the ALyCs, implemented through the presentation of the Chamber that brings them together, The new rule provides that after the period of ten business days to arrange and settle operations involving eligible assets has elapsed, the uninvested funds -totally or partially- “must be transferred and credited by the ALyCs to the bank account called the Special Account for Regularization of Assets owned/co-owned by the respective client.”
When should funds be withdrawn?
The note explains that this transfer This must occur to the extent that “said funds exceed the equivalent: (i) three percent (3%), calculated on the total funds owned/co-owned by the client in question, or (ii) 1,500 updated Acquisition Value Units (UVA) by the Reference Stabilization Coefficient (CER), the lowest of the two.”
“The regulations provide that the ALyCs They must request express instructions from the client regarding the treatment of available liquid balances to which the parameters indicated above apply.”and establishes that “for the purposes of its application, the UVA value of the corresponding immediately preceding month must be considered.”
What are the authorized investments?
Investments authorized to date include public securities national (including BOPREAL), provincial and municipal, shares and Negotiable Bonds with public offering authorized by the CNV.
You can also invest in Shares of Mutual Funds open and closed and in participation certificates or trust debt securities, intended for financing MSMEs and productive, real estate and/or infrastructure projects.
But it is not allowed to invest in Cedears or buy cable dollars to send them abroad. Another key point is that the client, once he deposits the funds into the broker, has 10 days to invest them, otherwise the ALyC is obliged to return them to the CERA account of the originating bank.
It should be noted that money laundering regulations allow a person to externalize capital in a stock exchange, but if an investment is not made within 10 days, the funds must be deposited in a bank. Until now, the regulations did not say anything about what they should do if partial balances remained.
Source: Ambito
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