In brief
On 14 September 2026, the Argentine Securities Commission (the CNV, after its Spanish acronym) issued General Resolution No. 1166/2026 (the “Resolution”), which amended the framework applicable to the receipt and disbursement of client funds by entities registered with the CNV.
The Resolution provides that such transactions must be carried out exclusively through wire transfers that allow for the proper identification and traceability of funds, eliminating the use of checks as a means of payment.
In focus
The Resolution replaces Article 3 of Section II of Title XI of the Rules and introduces amendments to the modalities for the receipt and disbursement of funds by entities registered with the CNV.
The main changes include the following:
- Elimination of the use of checks. Elimination of the possibility of using checks of any nature for the receipt and disbursement of client funds.
- Receipt of client funds. Funds must be received exclusively through wire transfers from bank accounts held or jointly held by the client and opened with entities authorized by the Central Bank of the Republic of Argentina (BCRA) or from a Uniform Virtual Key (CVU) associated with the client’s tax identification number (CUIT), provided that it allows for the proper identification and traceability of the transaction.
- Disbursement of funds to clients. Payments must be made exclusively to bank accounts held or jointly held by the client and opened with entities authorized by the BCRA or to a CVU associated with the client’s CUIT, subject to the same identification and traceability requirements.
- Transfers between intermediaries. The possibility of carrying out transfers between agents and other entities registered with the CNV on behalf of clients is maintained, provided that the funds are credited to accounts or subaccounts corresponding to the same client and their traceability is preserved.
- Foreign investors. The special mechanisms applicable to certain foreign investors operating through local custodians are maintained, subject to the requirements established by the Financial Information Unit (UIF) and the regulations issued by the BCRA.
The Resolution will become effective upon its publication in the Official Gazette.
Violeta Okretic, Associate, and Juana Bardin, Associate Jr, have contributed to this legal update.
Download the Spanish version of Argentina: CNV Eliminates the Use of Checks for the Receipt and Disbursement of Client Funds.