Argentina’s Comisión Nacional de Valores (CNV) has approved Resolution RG No. 1166, establishing bank transfers as the sole permitted method for receiving and delivering funds to and from clients in the capital markets sector. The directive, approved by the CNV’s board of directors, aims to enhance certainty surrounding payment procedures and strengthen control mechanisms governing fund flows.
- Primary Objective: Ensure immediate fund availability and eliminate rejection risks associated with check usage
- Regulatory Framework: RG No. 1166 reinforces standards introduced under RG No. 1139 and RG No. 1141
- Key Focus Areas: Anti-money laundering prevention, operational traceability, and market transparency
- Compliance Scope: All registered CNV agents and capital market participants
The regulation strengthens the CNV’s broader anti-money laundering framework established through prior resolutions. RG No. 1139 introduced adjustments aligned with international asset-laundering prevention standards applicable to CNV-registered agents, while RG No. 1141 incorporated operational clarifications designed to preserve transaction traceability and market integrity. The new directive consolidates these measures by eliminating alternative payment methods.
The mandate to use transfers exclusively addresses longstanding operational challenges in Argentina’s capital markets infrastructure. By standardizing fund movement procedures, the CNV reduces settlement delays, eliminates payment processing failures, and enhances supervisory oversight of financial flows. The measure also strengthens defenses against illicit financial activity by creating comprehensive audit trails for all client fund transfers.
The CNV noted that the new regulation does not modify existing tax provisions, clarifying its scope to payments and control procedures within the capital markets framework. Market participants have been advised to implement the transfer-only methodology in accordance with the resolution’s specified terms and conditions.
