Bolivia – CM AM

2025, Cross-border, Update

Update BRP Country Manual Asset Management

Bolivia

BRP SA - Bolivia CM AM
BRP SA – Bolivia CM AM

BRP has published its latest update concerning

the Country Manual Asset Management

for Bolivia

SOURCE OF CHANGESANSWERS
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