The Financial Information Unit set forth the On-Line System for Reporting Operations to be applied by Obliged Entities under Section 20 of Law 25,246

Through Resolutions 50/2011 and 51/2011 (both effective as from April 1, 2011), the Financial Information Unit (“UIF”) set forth the SRO and its corresponding User’s Guide, which is available at www.uif.gov.ar. Since the beginning of 2011, the UIF has been issuing several Resolutions that set forth new regulatory demands to be observed by the different categories of Obliged Entities, among others, insurance companies, brokers, agents, intermediaries and adjusters, for which the on-line filing of reports is mandatory.

Resolution 50/2011 set forth that Obliged Entities and their respective Compliance Officers (if applicable) must register with the UIF at www.uif.gov.ar/sro no later than April 30, 2011. Also, new Obliged Entities starting their activities must register within the first day and the 30th of the month in which they initiate their activities. As stated in Resolution 50/2011, “such registration will facilitate the permanent and fluid contact between the Obliged Entities and the UIF”, as a step prior to reporting suspicious transactions on-line.

Pursuant to Resolution 51/2011, Obliged Entities and their respective Compliance Officers, if applicable, must file their Report on Suspicious Transactions related to Money Laundering and the Financing of Terrorism through the UIF website (www.uif.gov.ar) from April 1, 2011. As stated in Resolution 51/2011, this will “simplify duties”, maximizing resources, contributing with efficiency and efficacy in the classification, analysis and crossing of information.

Finally, according with information published by the UFI on its Web Page (www.uif.gov.ar) as of today, the insurance industry must start filling their Monthly Systematic Report (MSR) from June 1, 2011.