Mechanism for Early Resolution of Administrative Proceedings

The Argentine Central Bank (BCRA) introduced a new mechanism aimed at the early resolution of administrative proceedings for financial infringements, establishing an alternative path for the closure of sanctioning procedures.

Through Communication “A” 8278, issued on July 11, 2025, the BCRA amended the Consolidated Text on the Disciplinary Regime (Laws 21526 and 25065) and the Processing of Foreign Exchange Proceedings (Law 19359), introducing a new regime of Voluntary Regulatory Compliance Agreements (AC).

 

The most relevant aspects of the new regime are:

 

Requirements to access an AC

 

• Relevant facts must be clearly established.
• Infringements must be corrected or in the process of being corrected.
• The offender must have cooperated with the BCRA during the investigation.
• There must be no risk to third parties or recent record of recidivism.
• Effective or estimated remediation of the damage must be verified (in up to 36 months).

 

Minimum conditions of the agreement

 

The agreement must include the explicit acknowledgment of the facts and their legal classification, as well as the written acceptance of the sanctions the BCRA proposes. It must also include the implementation—or, at least, a firm commitment to implement—corrective measures, along with remediation of any damage caused to the BCRA or third parties. The agreement must include the explicit, unconditional, and documented consent of the parties involved, and a summary version will be published on the BCRA’s website.

 

Benefits for the offender

 

Adhering to an AC will entitle the offender to a reduction of the fine between 30% and 50%, depending on the procedural stage at the time of adherence. A reduction of up to one third of the disqualification period is also contemplated.

Another relevant benefit is that the record will not be treated as a recidivism precedent, unless a new infringement occurs within the following five years. Once all the conditions of the agreement are fulfilled, the proceedings will be closed.

 

Procedural timing

 

The proposal for the agreement may be submitted before the administrative proceeding opens, or during its processing, the resolution opening the evidentiary stage or rejecting the evidence offered is issued. Offenders may not adhere to the AC regime outside of those instances.

 

Excluded cases

 

• Infringements classified as very serious (e.g., obstruction, accounting irregularities, prohibited transactions).
• Serious or recent recidivism.
• Breach of a prior regulatory compliance agreement within the last 5 years.
• Unauthorized or marginal operations (articles 7 and 38 of the Financial Institutions Law).

 

Adherence and approval procedures

 

The proposal must be made by the BCRA and accepted by the offender within 10 banking business days, in a clear, explicit, and unconditional manner, either jointly or individually.

Once accepted, the agreement will be approved by the Deputy General Manager of Compliance and Control or by the Superintendent, as applicable. From the moment of adherence until approval, procedural deadlines are suspended. The agreed amount must be paid by bank transfer within 5 banking business days following notification of the approval. Payment plans are not permitted.

 

Consequences of breaching the AC

 

If the offender breaches the agreement, the proceeding will resume from the procedural stage it was before adhering. Furthermore, any payments already made will not be refunded or credited toward any future sanction.

This new regime represents progress in sanctioning compliance by offering a concrete and transparent alternative for the voluntary resolution of enforcement proceedings, with tangible benefits for offenders who acknowledge and remedy their breaches.