Uruguay – CM PB

Country Manual Private Banking

Uruguay

BRP has updated its Country Manual Private Banking for

Uruguay (Def, RS, BT & RT)

Regulatory Template, Regulatory Summary and Behaviour Template

Material changes

We have reviewed the documents following consultations with our local counsel. We can confirm that there have been no relevant regulatory changes since the last publication of this Country Manual.

Please note that after consultations with our local counsel, we can confirm that the cross-border rules described in the manual also apply to foreign, unlicensed bank’s financial services directed towards or performed in the Free Trade Zone of Uruguay (Zona Franca). Thus, all rules described in the manual are also applicable for activities in/towards the Uruguayan Free Trade Zone. The scope of the manual reflects this change.

Non-material changes

Several comments have been slightly reworded (without introducing material changes) to reflect the regulatory situation/current interpretation of the regulatory framework more accurately. 

BT Short Comparison

This document allows users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “URUGUAY” in the Target Country Field.

The BT Short Comparison should be read as follows

The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.

For more information, please contact us: info@brpsa.com

Geneva, March 21^st, 2025