Circular RUNOR 1, Chapter XVI: Exchange Houses, Agencies and Offices - Amendments

2014 - YEAR OF TRIBUTE TO ADMIRAL GUILLERMO BROWN, ON THE BICENTENNIAL OF THE NAVAL BATTLE OF MONTEVIDEO

COMMUNICATION “A” 5523
17/01/2014

TO THE EXCHANGE HOUSES: AGENCIES: OFFICES AND EXCHANGE BROKERS:

Ref.: Circular
RUNOR 1 - 1056

Circular RUNOR - 1, Chapter XVI. Exchange houses, agencies and offices. Amendments.

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We address you to inform you that this Institution adopted the following resolution:

“1. Incorporate in point 1.10.1. Other conditions, of Chapter XVI of Circular RUNOR - 1, the following:

“1.10.1.12. When the entity chooses to use third-party physical spaces for the safekeeping of its securities, the contracts it enters into for that purpose must contain clauses establishing that the personnel of the Superintendency of Financial and Exchange Entities may witness -at the time of their request and within the framework of the exercise of their functions- the counting of those securities.”

2. Current contracts entered into to use physical spaces at third-party sites for the safekeeping of securities must be brought into compliance with the provisions of the preceding point no later than 1.3.14.”

Likewise, we remind you that, for the purposes of witnessing the counting of securities and in accordance with the provisions of Article 8 of Decree No. 62/71, exchange entities must facilitate -at the time of their request and concurrently with their personnel- the access of the officials of this Central Bank in the exercise of supervisory functions to the physical spaces intended for safekeeping -whether they are the entity's own or at third-party sites-, in the latter case considering the period provided in point 2. of this resolution when it is necessary to amend current contracts.

Delays in the start of the counting of securities, when attributable to the exchange entity, may be considered as refusal to allow inspection or omission in the supply of information, with the provisions of Article 9 of Decree No. 62/71 being applicable.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Principal Manager of Issuance and Regulatory Applications

Alfredo A. Besio
Deputy General Manager of Standards