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Brief
Summary:
The newly published Resolution UIF Nu00b0 126/2023, effective as of September 1, 2023, introduces significant changes for the insurance sector. The main changes include limiting the number of obligated subjects to only those who commercialize life insurance with savings and retirement insurance. The new resolution updates guidelines for risk management and compliance, specifically for insurance companies that commercialize these types of insurance, as they are considered to have a higher risk of being used for money laundering and terrorist financing. The resolution also introduces an automatic updating mechanism and guidelines for reporting suspicious transactions. It replaces Resolution UIF Nu00b0 28, issued in 2018.
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