Por: Christopher C. Paci | Nicolas Teijeiro | Richard A. Chesley | Jamila Justine Willis | William Candelaria

To read the alert in English, click here

En medio de la conmoción económica y financiera
Continue Reading Estrategias para la gestión de pasivos de emisores latinoamericanos con instrumentos de deuda regidos por la ley de Nueva York

Hace ya algún tiempo que Bitcoin se encuentra en la mira de las autoridades nacionales e internacionales, quienes han discutido acerca de la necesidad de su regulación; sin embargo, este interés se ha exacerbado más
Continue Reading Blockchain y Criptomonedas, Contratos Inteligentes, tecnologías en la mira de la regulación

Retrocession

This new regulation restricts private pension plans, and insurance cooperatives, microinsurers and insurance companies operating only with DPVAT (mandatory auto insurance for personal damages caused by vehicles) to accept risks in retrocession¹.

Pursuant to this new rule, retrocession with insurers placed in Brazil or abroad can be placed directly with the insurer or intermediated by reinsurance brokers, provided that the insurer operates in the line of business which is being retroceded.

Insurers can accept in retrocession business from reinsurers based abroad, registered or not by SUSEP. Such placements may be intermediated by foreign reinsurance brokers not registered with SUSEP. However, insurers cannot accept retrocession business from foreign insurers, registered or not with SUSEP.

(Portuguese language is below)
Continue Reading Brazil: New Insurance Rules – Retrocession and new resolutions for pension plans

Below is an update from Chile on the new provisions concerning fund processing.

La Ley N° 20.950, que autoriza la emisión de tarjetas de pago con provisión de fondos (prepago) por entidades no bancarias, encomendó al Banco Central de Chile, el adelante el “BCCh” el establecimiento de normas aplicables a las empresas que emitan y operen estas tarjetas.


Continue Reading EL BANCO CENTRAL DE CHILE PUBLICA SU NUEVA NORMATIVA SOBRE EMISIÓN Y OPERACIÓN DE TARJETAS DE PAGO CON PROVISIÓN DE FONDOS

Guest post by Hernán D. Camarero, Partner in Richards, Cardinal, Tützer, Zabala & Zaefferer, an independent law firm

Argentina’s Financial Information Unit (FIU) – the authority that enforces the law on prevention of money-laundering activities and terrorism financing Nr. 25,246, as amended (the AML Act)[1] – has issued Resolution Nr. 30-E/2017 for financial institutions (FIs) and foreign exchange entities as obliged subjects –FIU’s reporting agents – under the AML Act.[2] Res. 30 replaces and abrogates former FIU Resolution Nr. 121/11. It represents another important move by Argentina in its further integration into the international financial and banking systems.
Continue Reading ARGENTINA: Financial Information Unit’s New AML Regulations for Financial Institutions

The following is a guest post from Bergstein Abogados, Montevideo, Uruguay

Over the last few years, Uruguay has fully aligned with OECD standards. For example, Uruguay has entered into more than 10 tax information exchange agreements and more than 15 double taxation agreements. Uruguay became a member of the Committee on Fiscal Affairs, signed the Convention on Mutual Administrative Assistance in Tax Matters. Uruguay, and also agreed to start the automatic exchange of information in September 2018.

In this context, on December 29, 2016, Uruguayan Parliament passed the Tax Transparency Act.
Continue Reading Uruguay Fully Aligns with OECD Standards: Tax Transparency Law Enacted