A. M. 
The National Security and Justice Commission of the Legislative Assembly issued a favorable opinion for the creation of the new Special Law for the Prevention, Control, and Punishment of Money Laundering, Financing of Terrorism, and the Proliferation of Weapons of Mass Destruction, which will replace the legal framework in place since 1999.
The draft legislation seeks to modernize control mechanisms and align them with the international standards of the Grupo de Acción Financiera de Latinoamérica (GAFILAT), to more effectively prevent and punish financial crimes.
SAS are excluded from the scope of the law
One of the most notable points is that Sociedades por Acciones Simplificadas (SAS) will not be subject to the controls and supervision of the new regulations. According to Attorney General Rodolfo Delgado, the focus of the law is to apply measures only to entities and activities that pose a real risk of money laundering.
“With this update, we are leaving behind a regulatory framework that indiscriminately included all individuals and legal entities. Now, the obligations will fall only on proven risk sectors such as banks, loan agencies, casinos, jewelry stores, precious metals trading, and real estate activities”, he explained. The official emphasized that the regulations seek to strengthen financial inclusion and avoid unnecessary burdens on companies that, due to the nature of their activities, do not pose significant risks. SAS—a legal entity created to promote entrepreneurship and the formalization of small businesses—are exempt from being considered “obligated subjects”.
