Argentina Securities Commission simplifies anti-money laundering, terrorist financing and proliferation financing regime, cutting information forms from 19 to 10 and extending obligations to virtual asset service providers

The Argentina Securities Commission (CNV) has issued General Resolution 1139 to simplify and reorganise its anti-money laundering, terrorist financing and proliferation financing framework. The measure reduces reporting and procedural requirements, revises rules on how funds may be received from and delivered to clients, clarifies the evidence needed to meet suitability, integrity and solvency standards for CNV registration, and extends these obligations to Virtual Asset Service Providers. Under the information regime, the number of information request forms falls from 19 to 10. The revised reporting set includes variables on beneficial owners, customer risk segmentation, transaction monitoring and politically exposed person status. For payment modalities, cash is no longer permitted for the receipt and delivery of funds to and from clients, except where the simplified income tax sworn declaration regime applies under General Resolution 1108, and electronic cheques are now allowed. The resolution also sets out additional detail on how applicants must demonstrate compliance with the requirements for entry on CNV registers.