Update BRP Country Manual Asset Management
Bolivia

BRP has published its latest update concerning
the Country Manual Asset Management
for Bolivia
SOURCE OF CHANGES | ANSWERS |
---|---|
Law/Regulation | No |
New Position of the Authorities | No |
Evolution of Expert’s interpretation | Yes |
Definitions & Concepts, Regulatory Overview and Behaviour Template
Material changes
The changes/modifications are as follows:
Finally, based on guidance from our local counsel, please note that it is possible for locally licensed intermediaries/distributors to introduce not registered financial products and/or investment services of a foreign (non-licensed) investment firm to local clients/prospects on a one-to-one and occasional basis (i.e. without breaching local licensing or product registration requirements).
It is highlighted that the handling of contracts, agreements, subscription forms or transaction documents (including their signature) is not permitted onshore in Bolivia (at target). The Country Manual Asset Management Behaviour Template (CM AM BT) therefore now provides the answer “NO” in the relevant onshore scenario.
In addition, activities based on a reverse solicitation or responding to an RFP are now only permitted if no information on financial products and/or investment services is provided onshore in Bolivia (at target). The CM AM BT therefore provides the answer “Grey zone/YES – Permitted, if no information on products and/or services is provided” for the relevant onshore scenario.
Non-material changes
Some comments and content have been slightly reworded in the CM, without introducing substantive changes to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
For more information, please contact us: info@brpsa.com
Geneva, January 14th, 2025