Information on Access to the Forex Market

Financial institutions must include in the affidavit signed by companies to access the forex market that the company, their directors or their shareholders have not carried out transactions with securities settled in foreign currency whether directly or indirectly, or on behalf of third parties.

The current regulation sets forth that, if a company has access to the forex market, such company, its subsidiary or parent company, their directors and shareholders may not carry out transactions with securities settled in foreign currency for a period of 90 days or 180 days—depending on the instrument—before and after having access to the forex market.

The clarification issued today by the Board of the BCRA states that this restriction has always been applied for transactions with securities carried out whether directly or indirectly, or on behalf of third parties.

September 7, 2023