On November 23, 2021, the Public Registry of the City of Buenos Aires (“IGJ,” after its acronym in Spanish) issued General Resolution No. 17/2021, by means of which it adjusted the section on Anti-Money Laundering and Terrorist Financing and introduced changes to the Beneficiary Owner’s Sworn Statement requirement, echoing the issuance of Resolution 112/2021 of the Financial Information Unit (“UIF,” after its acronym in Spanish).
To read more about the echoed resolution, see our previous article .
The IGJ issued the new Resolution by virtue of its legally conferred power to identify the beneficial owner of any person and/or legal entity under its jurisdiction.
To that effect, the IGJ has highlighted that any person/s referred to in section 2 of Resolution UIF 112/2021, or by the UIF regulation that may amend or replace it in the future, shall be deemed as beneficial owner.
Likewise, changes affecting the Beneficial Owner’s Sworn Statement include the following:
- in the case of a chain of ownership, the chain of ownership must be disclosed all the way up to the human person/s exercising ultimate control; and
- legal entities that make public offerings of their securities, listed in an authorized local or international market and that are subject to transparency and/or information disclosure requirements, are exempted from this requirement.