The Argentine Securities Commission ("CNV") issued General Resolution 1139/2026, published in the Official Gazette on May 14, 2026, fully replacing Title XI of the CNV Rules (2013 consolidated text, as amended) on the prevention of money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction ("AML/CFT/CPF"). The rule took effect the day after publication, subject to certain special deadlines for reporting through the AIF.
The reform is part of a broader CNV simplification and modernization process. According to the regulator, the goal is to reduce operating burdens, simplify information requirements and strengthen monitoring and control mechanisms in line with international standards.
General scope of CNV General Resolution 1139/2026
GR CNV 1139/2026 reorganizes the AML/CFT/CPF regime applicable to obligated parties active in the capital markets. The CNV recalls that its competence in this area is complementary to the directives of the Financial Information Unit ("UIF") and that it cannot expand or modify the scope of the instructions issued by that agency.
The rule incorporates and updates relevant definitions, including ALyC I Agro, CSNU, CVU, PEN, PSP and AML/CFT/CPF. In particular, it defines AML/CFT/CPF as the prevention of money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.
Who is covered: capital markets agents and PSAVs
A central feature of CNV General Resolution 1139/2026 is the list of obligated parties caught by the new Title XI. They include:
- •Trading agents.
- •Settlement and clearing agents and other intermediaries performing equivalent functions.
- •Placement and distribution agents acting in the placement of Mutual Funds or other collective investment products.
- •Global investment advisory agents and other legal entities responsible for opening client files and risk profiling.
- •Financial trustees in publicly offered financial trusts.
- •Crowdfunding platforms.
- •Virtual Asset Service Providers ("PSAV").
The express inclusion of PSAVs (virtual asset service providers) in this regime is especially relevant for exchanges, custodians, crypto trading platforms and other providers caught by Argentina's virtual asset rules. If you are new to the figure, our note What is a PSAV and how to register with the CNV explains it from scratch, and the service detail is in PSAV registration and compliance. GR 1139 deepens the regulatory convergence between capital markets, anti-money laundering and virtual assets.
New AIF reporting regime
GR CNV 1139/2026 reorganizes the reporting regime applicable to obligated parties, who must submit certain information through the Financial Information Highway ("AIF"). The CNV reported that the reform reduces the information request forms from 19 to 10.
The ten reporting items are:
- •Beneficial owners.
- •Compliance officers.
- •Reciprocity agreements.
- •AML/CFT/CPF manual.
- •Technical risk self-assessment report.
- •AML/CFT/CPF internal control report.
- •Risk tolerance statement.
- •Client rating and segmentation.
- •Transaction monitoring.
- •Politically exposed persons ("PEP").
The rule also sets specific update deadlines. For example, beneficial-owner information must be updated within 30 calendar days of any change; compliance-officer information, within 5 days of registration with the UIF; and certain information on reciprocity agreements, client segmentation, monitoring and PEPs must be updated semiannually.
Payment methods: removal of cash, e-cheqs and CVU
CNV General Resolution 1139/2026 introduces relevant changes to how funds are received from and delivered to clients.
The general rule is traceability. The rule removes the possibility of using cash, except in the specific case of adherence to the Simplified Sworn Declaration Regime for Income Tax.
On checks, the rule allows the use of electronic checks and provides that, where receipts or payments are made through e-cheqs, no limits will apply to the number of endorsements, provided the instrument's traceability is ensured.
For local transfers, funds must come from sight bank accounts owned or co-owned by the client at entities authorized by the BCRA, or from a CVU tied to the client's CUIT, provided it allows identifying and tracing transfers from sight accounts belonging to a Payment Service Provider ("PSP"). Payments to clients must follow equivalent criteria.
Specific impact on PSAVs
GR CNV 1139/2026 extends to PSAVs the obligation to comply with the payment methods and the reporting regime set for capital markets obligated parties.
For PSAVs, the obligation to report through the AIF under article 2 of Section I of Title XI takes effect on July 1, 2026. All information must be submitted by July 31, 2026, after which the ordinary update deadlines under the rule apply.
The Resolution also provides a transitional exception: for PSAVs, the obligation tied to the suitability requirement under subsection 1 of article 11 of Section IV of Title XI will not apply "at this stage".
Foreign investors and enhanced due diligence
GR 1139 also adds precisions for transactions by foreign investors. Obligated parties may only process transactions carried out or ordered by parties incorporated, domiciled or resident in jurisdictions that are not deemed non-cooperative for tax transparency purposes nor high risk by the FATF.
The rule likewise allows the application of enhanced due diligence measures for foreign investors in Argentina when remotely opening special investment accounts, in accordance with the UIF's specific rules.
Operationally, foreign investors subject to enhanced due diligence may receive and send bank transfers to and from BCRA-regulated entities acting as a local custodian, or to and from BCRA-regulated entities acting as local custodian of a foreign entity defined as a "Foreign Financial/Banking Entity" under the applicable UIF rules.
Suitability, integrity and solvency requirements
CNV General Resolution 1139/2026 introduces a regime for assessing suitability, integrity and solvency for those seeking registration in CNV registries or seeking to act as capital markets agents. The assessment reaches both individuals and legal entities and, for legal entities, extends to managers, directors and persons with executive functions.
For beneficial owners, the assessment is limited to the integrity requirement. To that end, the rule refers to the beneficial-owner concept of UIF Resolution 112/2021: individuals who hold at least 10% of the capital or voting rights, or who otherwise exercise final, direct or indirect control of a legal structure.
On integrity, the CNV will consider, among other elements, whether the person was convicted of or prosecuted for intentional crimes, especially money laundering, terrorist financing, proliferation financing or economic crimes. It will also verify that the person is not listed by the United Nations Security Council or in local registries linked to terrorism.
On solvency, the CNV will analyze negative commercial records, unjustified default, convictions in economic litigation, bankruptcies, and repeated seizures or attachments of assets. Subsequent failure to meet the suitability, integrity and solvency conditions may result in the lapse of registration in the CNV registry.
Simplified Income Tax Declaration regime
GR CNV 1139/2026 adds a specific section on the entry of funds and assets into the financial system by resident individuals or undivided estates that have adhered to the Simplified Sworn Declaration Regime for Income Tax.
Under that regime, clients may make cash deposits into the bank accounts of obligated parties, provided the requirements set in the rule are met. The transfer of securities to and from client subaccounts is also allowed, as is the transfer of virtual assets to and from accounts opened at CNV-registered PSAVs.
In all cases, the jurisdictions of origin must not be included in lists of jurisdictions that are non-cooperative for tax transparency purposes nor be deemed high risk by the FATF.
UVA mortgage loans and settlement of securities
GR 1139 also introduces a specific rule for transactions tied to UVA mortgage loans. Settlement and clearing agents (ALyC) may transfer funds from sales of securities settled in foreign currency and local jurisdiction, previously acquired in pesos with funds from UVA mortgage loans, to a bank account of the property seller, provided the funds are applied to the purchase of real estate in the country under that loan.
Agents must first verify compliance with the applicable conditions and keep the supporting documentation in the client files.
Practical implications for CNV agents and PSAVs
From an operational and compliance standpoint, CNV General Resolution 1139/2026 requires reviewing, at a minimum, the following fronts:
- •AML/CFT/CPF policies and manuals.Obligated parties must align their manuals, risk matrices, monitoring procedures and internal documentation with the new Title XI structure.
- •Fund flows.The general removal of cash, the admission of e-cheqs without endorsement limits under traceability, and the use of CVUs tied to PSPs require reviewing onboarding, deposits, withdrawals, reconciliation and transaction control processes.
- •AIF and regulatory reporting.Fewer forms do not remove the need to keep information current and consistent. Beneficial owners, compliance officers, client segmentation, monitoring and PEPs become critical supervision points.
- •PSAVs.Virtual asset platforms registered with the CNV must implement the new AIF reporting regime from July 1, 2026 and file the initial information by July 31, 2026.
- •Corporate governance.The suitability, integrity and solvency requirements reinforce the importance of reviewing the records of directors, managers, executive functions and beneficial owners before applying for registrations, authorizations or amendments before the CNV.
- •Foreign clients.Remote onboarding, special investment accounts and operations with local custodians require fine coordination between CNV rules, UIF regulation and BCRA foreign-exchange rules.
Frequently asked questions about CNV General Resolution 1139/2026
What is CNV General Resolution 1139/2026?
It is the rule of the Argentine Securities Commission that replaces Title XI of the CNV Rules and reorganizes the regime for the prevention of money laundering, terrorist financing and proliferation financing applicable to the capital markets.
Does GR CNV 1139/2026 apply to PSAVs?
Yes. The rule expressly includes Virtual Asset Service Providers as covered parties and extends to them obligations on payment methods and AIF reporting.
From when must PSAVs comply with the new reporting regime?
For PSAVs, the obligation to report through the AIF takes effect on July 1, 2026. The initial information must be filed by July 31, 2026.
Does GR 1139 ban cash?
As a general rule, the rule removes the possibility of using cash in the operations of obligated parties, except in the specific case of the Simplified Sworn Declaration Regime for Income Tax.
What changes for e-cheqs?
GR 1139 allows the use of electronic checks and provides that there will be no limits on the number of endorsements, provided the instrument's traceability is ensured.
How Jarsun, Ferreira & Calvo helps
At Jarsun, Ferreira & Calvo we advise capital markets agents and PSAVs on adapting to GR 1139: reviewing AML/CFT/CPF manuals and risk matrices, redesigning fund flows, AIF reporting, and suitability, integrity and solvency assessments. The full regulatory picture is in our Fintech Regulation in Argentina guide, and building a local operation is covered in our Fintech Market Entry in Argentina service.
This note is for informational purposes and does not constitute legal advice. For specific analysis, contact our team at contact@jfcattorneys.com.