Financial Intelligence Unit Amends the Transaction Reporting System
The amendments establish new mandatory requirements for reporting entities to register and cancel their registration.
On March 19, 2024, the Financial Intelligence Unit (UIF) issued Resolution 47/2024, establishing that the registration of reporting entities before the UIF must include certificates of criminal record and sworn statements of Politically Exposed Person (PEP) in the case of individuals and, in the case of legal entities, of the members of their administrative bodies (including the Compliance Officer) and of the beneficial owners.
The Resolution also incorporates the obligation to report the termination of the status of reporting entity and establishes that, to manage the cancellation of the registration before the UIF, it is necessary to provide supporting documents proving the reasons for it. The reasons include:
- death, dissolution, liquidation, or extinction,
- retirement,
- termination of activity,
- expiration, cancellation, or removal of the authorization to operate.
Finally, only one e-mail address has been established to send the documents in PDF format for both the registration and the cancellation requests: sujetosobligados@uif.gob.ar.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.