The Central Bank of Uruguay has sent the Ministry of Economy and Finance a draft bill to amend its Organic Charter, expanding the Bank’s regulatory and supervisory remit to cover entities that solicit investment from the public by promising future financial returns, even where they do not issue securities. The proposal defines a financial operation as one in which funds are disbursed in exchange for a promise of future profitability managed by a third party. It would also strengthen the enforcement powers of the Superintendency of Financial Services, including the ability to require information and conduct inspections with authority comparable to the General Tax Directorate and without professional secrecy being invoked, and to order the immediate cessation of irregular activity and suspend advertising campaigns or the raising of funds. The reforms are positioned alongside wider investor-protection and capital-market development actions, including communication and financial education initiatives and a stepped regulatory architecture intended to avoid regulatory cliff effects.
Central Bank of Uruguay 2025-08-13
Central Bank of Uruguay submits draft bill to extend its regulatory perimeter to mass public fundraising promising returns
The Central Bank of Uruguay proposed a draft bill to the Ministry of Economy and Finance to amend its Organic Charter, expanding its regulatory remit to include entities soliciting public investment with promised financial returns. The bill aims to enhance the enforcement powers of the Superintendency of Financial Services, allowing for information requisition, inspections, and immediate cessation of irregular activities. These reforms are part of broader efforts to bolster investor protection and capital market development.