# Argentina CNV check regulation changes

> Live situation record from CLSTR: https://clstr.news/situations/argentina-cnv-check-regulation-changes
> Updated: 2026-09-22T13:01:19.000Z. Sources: 13. Developments: 3.

The Argentine National Securities Commission (CNV) has implemented new regulations to prohibit the use of checks, including electronic checks (eCheqs), for depositing or withdrawing funds from brokerage accounts (ALyCs). Under General Resolution 1166/2026, all operations must be conducted through bank transfers or other mechanisms to ensure fund traceability.

The measure is designed to prevent tax avoidance regarding the tax on bank debits and credits, often referred to as the ‘check tax,’ which carries a 0.6% rate. Previously, companies could endorse checks directly to brokerage accounts to bypass this levy. The CNV and the Ministry of Economy cited a deterioration in fiscal accounts and declining tax revenue—with reported year-on-year decreases of 11% in June, 6% in July, and 9% in August—as primary drivers for the decision.

Financial operators and productive sectors have expressed dissatisfaction, noting that the move restricts financial flexibility for small and medium-sized enterprises (SMEs) and contradicts principles of economic freedom by forcing cash flows through rigid bank transfers. The Confederaciones Rurales Argentinas (CRA) has formally challenged the regulation, with President Carlos Castagnani criticizing the shift toward increased banking activity due to the higher costs associated with the Tax on Bank Credits and Debits. Liquidation and compensation agencies (ALyCs) further argue that the mandate reduces the speed of the brokerage placement circuit.

## Timeline

### 2026-09-22: Confederaciones Rurales Argentinas challenges new CNV fund transfer rule

Confederaciones Rurales Argentinas has criticized a new CNV regulation requiring capital market transactions to be processed via transfers rather than checks, citing increased tax costs.

2 sources. https://clstr.news/cluster/confederaciones-rurales-argentinas-challenges-new-cnv-fund-transfer-rule

### 2026-09-15: Argentina's CNV bans check use for brokerage accounts to prevent tax avoidance

Argentina's CNV has banned using checks to fund brokerage accounts, closing a loophole used by companies to avoid the 0.6% tax on bank debits and credits.

8 sources. https://clstr.news/cluster/argentinas-cnv-bans-check-use-for-brokerage-accounts-to-prevent-tax-avoidance

### 2026-09-15: Argentina's CNV revokes eCheq deregulation to boost tax revenue

Argentina's CNV has revoked eCheq deregulation to boost tax collection, a move criticized by SMEs and financial operators for reducing liquidity and financial flexibility.

3 sources. https://clstr.news/cluster/argentinas-cnv-revokes-echeq-deregulation-to-boost-tax-revenue

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Cite as: Argentina CNV check regulation changes. CLSTR, https://clstr.news/situations/argentina-cnv-check-regulation-changes