Regulatory Alerts2025-03-05 | CDMF-VII-1-25Norm Reforming Articles 3 and 4 of the Regulation on Simplified Savings Accounts
The Monetary and Financial Board issued Resolution CDMF-VII-1-25 to amend the Regulation on Simplified Savings Accounts (CAS) to align with Law No. 1237 and promote financial inclusion. The reform updates Article 3 to define CAS characteristics, including a maximum balance of C$100,000 or U$1,500, and Article 4 to mandate simplified Due Diligence (DDC) via a Basic Customer Profile. Financial institutions must implement internal controls to monitor risks and enhance due diligence measures if specific risk indicators are detected.
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