Politically exposed people: What are the latest modifications of the FIU?
On date 25/03/2019 Resolution UIF No. 134/18 entered into force, repealing the
previous regime provided by resolution UIF No. 11/11.
Later, published on 25/02/2019, Resolution UIF No.
15/2019, by which he modified the No. 134/2018 in the following articles:
Scope regarding business organizations of art. 4 inc. b
The amended regulations referred to the conduct of this type of organization
without specifying the scope, which it does carry forward with respect to trade union organizations.
In this sense, after the reform, The FIU provides that in these structures there are
reached those human persons who, depending on their position, comply with the
1) Have decision-making capacity, administration, control or disposition over funds
from the national public sector, provincial, municipal or Autonomous City
from Buenos Aires.
2) Engage in for-profit activities, for the organization or its represented, what
involve management, intermediation or habitual contracting with the national State,
provincial, municipal or the Autonomous City of Buenos Aires.
Clarification of the content of art. 4 inc. d
In this case, certain requirements are added that restrict the obligated subjects
determined in standard No. 134/2018, establishing how much to people
human decision-makers, administration, control or disposition of assets
from private legal entities to those cases in which they receive public funds
intended for third parties, have the power of control and disposition regarding the destination of
said funds; It is in this last part that the reform itself is found.
Restriction of the scope of art. 5 inc. b
As a last novelty, it modifies the degree of consanguinity or affinity of those people who are linked with those who fulfill the functions established in rule No. 134/2018, which will be considered as Politically Exposed Persons. This is how upline family members are no longer considered, descending and collateral up to the third degree of consanguinity or affinity, to limit that level of attachment to the second degree.These modifications receive the various presentations that the business chambers carried out before the FIU, expressing the need to clarify the contents of the resolution sanctioned in November 2018.