15 May 2008, 16:06
The Bill (Reg. No.2177) was elaborated due to the lack of legislative basis to regulate provision of services in groups by "Argentinean system". The said system envisages attraction of funds from individuals and\or legal entities, its pooling and use for purchase of commodities by the relevant entities. Elaboration of the Bill was also stipulated by the necessity to specify the regulations of the State Commission for Regulation of Financial Services concerning treatment of operations as financial services.
The Bill imposes a ban on illegitimate attraction of financial assets from individuals by the economic entities. The People´s Deputies believe that the said regulation will prevent illegitimate attraction of funds from the population, as well as misuse of these funds at the financial services markets. Moreover, it will facilitate de-shadowing of the national economy.