Request evaluation from financial institution authorities

Procedure for submitting to the Central Bank the documentation required to evaluate the persons proposed as authorities of financial institutions, according to the Harmonized Text on “Authorities of financial institutions”

What is it?

It is the procedure by which financial institutions request the Central Bank of the Argentine Republic (BCRA) to evaluate the persons proposed to be members of their administrative and supervisory bodies and/or to exercise general management and equivalent positions, in accordance with the harmonized text of the rules on Authorities of financial institutions.

Value of the procedure

Free

Who is it for?

The procedure is aimed at:

• – financial institutions supervised by the BCRA, and
  – promoters of future financial institutions

who need to manage the evaluation of their new authorities.

What is needed?

According to the ordered text of the rules on Authorities of financial institutions, the following must be submitted:

Entity documentation:

– Note signed by the legal representative of the entity, with the scope provided for in point 6.6, section 6, of the Ordered Text.
– Decree or minutes of the shareholders’ or associated persons’ meeting, or of the corporate administration or supervisory body that provides for the designation of the authorities, as appropriate.
– Box with:

• – members of the last two administrative and/or supervisory bodies of the entity, and
  – projected composition with the new authorities whose evaluation is requested, ordered by hierarchy of position in the first column.

Documentation of the new authorities:

– Personal History Formula (FAP), generated according to the corresponding procedure.
– Proof of validation of the FAP.
– FAP Individual Affidavit.
– Criminal record certificate issued by the National Recidivism Registry in accordance with the deadlines provided for in point 6.2 of the Ordered Text.
– Curriculum vitae with details of studies completed and work history.

In the case of foreign authorities that do not have a CUIT/CUIL, the financial institution can upload data to the application and generate the FAP on behalf of the person to be evaluated.

1- Prepare the documentation

– Gather the documentation of the entity and the new authorities, in accordance with the requirements established in the ordered text on Authorities of financial institutions.
– Verify that the criminal record certificates have been issued within the deadlines provided for in point 6.2 of the ordered text.
– Assemble the table with the integration of the last two administrative and/or supervisory bodies and the projected composition with the new authorities.

2. Generate the Personal History Formula (APAEF)

-Generate the Personal Background Formula (FAP) and the individual Affidavit FAP through the application “Personal Background of Authorities of Financial Institutions and Evaluation of Authorities (APAEF)”, as detailed in the Generate Personal Background Formula (FAP) procedure.
– Complete the Manifestation of Assets as established in the Annex to Communication A 4499 and complementary regulations.
– Finish loading and unloading:

• * Personal History Formula (FAP)
• * Proof of validation, and
  * FAP Individual Affidavit, for signature and certification as appropriate.

3. Complete the online form

– Access the web form for the evaluation of financial institution authorities.
– Upload the required data of the entity and the authorities to be evaluated.
– Attach the documentation in PDF format, respecting the technical requirements:

• * maximum file size: 50 MB,
  * recommended resolution: 150–200 dpi.

– Enviar el formulario y conservar la constancia de envío.

4. Advance the information by email (optional, recommended)

To facilitate compliance with specific deadlines established in the regulations (point 3.1.6 for information on directors appointed on behalf of the State and point 6.2 for the validity of criminal record certificates), it is recommended:

– Email gerencia.autorizaciones@bcra.gob.ar:

• * list of the newly appointed authorities, and
  * digitized criminal record certificates, along with the rest of the relevant documentation.

– Indicate in the subject of the email the entity, type of procedure and, if any, file number.

5. Submit the formal note to the BCRA

Once the approval has been received from the Authorisation Management on the uploaded documentation:

– Write a note addressed to the Authorizations Management, Superintendence of Financial and Exchange Entities (SEFyC), signed by the legal representative of the entity or the promoter, as appropriate.

– Include in the note an affidavit with the scope of point 6.6, section 6, indicating that:

• “the proposed authority is not disqualified from occupying the position, that the controls that allow such a statement to be made have been carried out and that all the documentation sent by electronic means is a true copy of the documentation kept by the entity and is available to the SEFyC, detailing the place where it is located.”

– Submit the note through the Ticket Desk, by one of the following means:

• * by email to mesadeentrada@bcra.gob.ar, or
  * in person.

Queries

Financial Institution Authorization Management | gerencia.autorizaciones@bcra.gob.ar

Subgerencia de Autorización de Entidades Financieras | subgcia.autorizacion.ef@bcra.gob.ar