Suspension Term for Foreign Exchange and Financial Summary Proceedings Continues in Effect up to November 22

The BCRA has extended once again the suspension term for foreign exchange and financial summary proceedings—up to November 22, 2020—within the terms of Law No. 19,359 on Foreign Exchange Criminal Regime and Law No. 21,526 on Financial Institutions, respectively, notwithstanding the validity of the proceedings carried out in such period, given the intervention of the defendant is unnecessary.

Resolution No. 420/2020 declares the term from November 9 to November 22 as non-business days.

However, the extraordinary judicial recess is lifted for the following cases:

• Financial summary proceedings that imposed or would impose—as from the implementation of the said resolution—the penalties established in Section 41 (5) of the Law on Financial Institutions, to the extent mentioned in paragraph 7 of the Summary in the said resolution.

• Foreign exchange summary proceedings falling within the terms of the Law on Foreign Exchange Criminal Regime that are ready to be forwarded to a court for entry of judgment.

November 10, 2020.

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