Why does this matter?
Argentina’s Central Bank (“BCRA”) has broadened the scope of its disciplinary regime to include payment service providers (“PSPs”), electronic clearing houses and systemically important financial market infrastructures, while significantly increasing fines, especially for security and crime prevention breaches.
Key facts
– Regulation: BCRA Communication “A” 8411
– Effective: March 30, 2026
What changed?
New regulated entities: The BCRA redefined the groups subject to its disciplinary regime:
Group A: financial institutions, electronic clearing houses, TEF payment scheme administrators, PSPs registered with the BCRA, systemically important financial market infrastructures, their external auditors, and foreign entity representatives.
Group B: foreign exchange entities, their external auditors and other entities covered by specific BCRA regulations. Group B entities that breach Articles 19 and 38 of the Financial Institutions Law are reclassified to Group A.
Higher fines: Maximum fine amounts were significantly increased, particularly for breaches related to minimum security measures and crime prevention systems.
New infractions: Additional sanctionable conduct has been incorporated.
Practical impact
PSPs and other fintech players are now formally subject to the BCRA’s disciplinary regime. Compliance and security programs should be reviewed in light of the new requirements.
