Regulatory Alerts2026-03-05
Added · Updated
Compilation of Payment System Rules - Modifications to Article 93, Book VII
The Central Bank of Uruguay amends Article 93 of the Payment System Rules to authorize electronic money issuers to offer third-party regulated products and services through their platforms, requiring clear disclosures that transferred funds lose their electronic money status and fiduciary protection. The resolution permits issuers to provide advances against the redemption of open-end investment fund shares, subject to strict conditions including that shares are in Uruguayan pesos, held in Central Bank custody, and backed by specific national securities with maturities under 24 months. Issuers must maintain a permanent guarantee of 2,000,000 indexed units plus 0.5% of the nominal value of issued shares, and advances must be funded from the issuer's own accounts with settlement occurring no later than the second business day following the advance.
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