Regulatory Alerts2025-10-16
Added · Updated
Financial Intermediation Institutions – Modification of Requirements for Opening Current Accounts – Article 390 of the RNRCSF
The Financial Services Superintendence modifies Article 390 of the RNRCSF to replace the requirement for authenticated copies of corporate contracts or statutes with documentation proving the legal constitution and current authorities of legal entities, aligning current account opening requirements with anti-money laundering standards. The updated article mandates that financial intermediation institutions identify legal entity clients by obtaining their name, constitution date, main activity, address, tax registration number, and proof of constitution and authorized representatives, while retaining the ability to request additional documentation. This resolution, effective upon communication via Circular No. 2487, aims to reduce costs for small and medium-sized enterprises by accepting non-authenticated documentation supported by technological verification tools.