Publications - Banking and Finance
Peru moves forward in fintech regulation: The SBS approved the Regulation of Innovative Models
February 1, 2022 is the key date, when the new Regulation for the temporary performance of activities in innovative new models will come into force.
Chilean IRS (Servicio de Impuestos Internos) issued new instructions to implement the registration under the Registry of Foreign or International Financial Institutions
On August 13, 2021 the Chilean IRS (Servicio de Impuestos Internos) issued Exempt Resolution No. 95 (Resolución Exenta No. 95), establishing the instructions to implement the registration under the new voluntary Registry of Foreign or International…
Anti-Money Laundering Newsletter - July 2021
Main new legislation and news in relation to the Prevention of Money Laundering and Terrorist Financing (AML/TF) - 2Q21.
Sepblac publishes its 2020 activity figures: inspections were down/fall by 10%
On April 30, 2021, Sepblac published data on the activities carried out in 2020, in the exercise of its powers as the Financial Intelligence Unit (FIU), as supervisory authority and as the body entrusted with maintaining the Centralized Banking…
NPLs and REOs: LatAm, Spain and Portugal wake up to debt market new normal
Transactions with non-performing loans (NPLs) started to take off in the second quarter of 2021, especially in Spain and Portugal. The gradual fading in continental Europe of the health impact of COVID-19, combined with the progress made in…
China to amend its Anti-Money Laundering Law
In June of 2021, the People’s Bank of China (PBOC, China’s central bank and major financial regulator) published the draft version of amended Anti-Money Laundering Law (Amended AML Law) seeking for public opinion[1]. Amended AML Law…
The fintech industry is making inroads in Latin America with new legislation
The different jurisdictions in the Latin American region are proposing new regulatory schemes on 'fintech' matters. In this article we analyze the main regulatory trends in Chile, Colombia, Mexico, Peru and Brazil.
A digital euro: what is it and what consequences could it have?
The European Central Bank (ECB) plans to announce shortly whether it will launch a design and creation project for a digital euro, something which, as the institution itself has said, would have an immense impact. We need to know therefore what the…
Spain transposes the 5th Directive on the prevention of money laundering
The V Directive (2018/843) on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, has been incorporated into our legal system by means of Royal Decree-Law 7/2021, of April 27…
A Valencia court annuls a penalty imposed by Spanish tax Agency (AEAT) on a company for infringing the financial legislation on cash payments
The Contentious-Administrative Court no 3 of Valencia has granted appeal to a company which had been fined for infringing the financial legislation on cash payments. Precisely, in judgment no 76/2021, of February 25, 2021, the court holds that…
Anti-Money Laundering Newsletter - April 2021
Main legal developments and news in relation to the Prevention of Money Laundering and Terrorism Financing (AML/TF).
NPLs and REOs in Latin America, Spain and Portugal: 2021, a year of transition for debt markets
Debt markets continue to feel the calming — even sedative — effects of the battery of support measures rolled out to counteract the decline in business activity due to the effects of COVID-19. Jumbo deals involving non-performing loans (…