The CNV in charge of Roberto Silva had established due diligence measures so that the Alycs have identifying data on their clients. However, this rule has been suspended for the moment.
The National Securities Commission (CNV) issued General Resolution No. 1033 (BO 05-12-2024), establishing due diligence measures so that Agents have the complete identification data of their clients, including CUIT, CUIL, CDI or CIE. Its entry into force was set for on January 2, 2025, but was later extended to January 16, 2025 through the General Resolution No. 1045 (BO 03-01-2025), considering the adaptation process of the Agents.
Given the effort required to comply with these provisions, especially in relation to non-resident clients, It was resolved to temporarily suspend the application of due diligence standards and the blocking of client subaccounts exclusively for non-resident human persons.
It is worth clarifying that this temporary suspension of the rule is only for human clients not resident in Argentina who lack CUIT/CUIL/CDI or CIE, but have a tax identification from an OECD member or collaborating country. The suspension affects the due diligence provisions and the blocking of client subaccounts by the Central Depositary Agent for Negotiable Securities.
The resolution will be effective from its publication in the Official Gazette.
What CNV standard No. 1,033 established
The National Securities Commission (CNV) incorporated through General Resolution No. 1033, modifications to the information regime for residents and non-residents. The new regulations refer to the information regime applicable to Settlement and Clearing Agents (ALyCs) and Negotiation Agents (AN) regarding the investments of clients with CDI “Identification Key” or CIE “Foreign Investors Key”, and who are holders and/or co-holders of client sub-accounts.
This rule required that the principals review, update and keep information up to date constantly, and the due diligence of the Agents, prior to processing orders and/or registering operations within the scope of the authorized Markets.
Source: Ambito
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