Disclosure Requirements - Uruguay
Disclosure Category: 3
Background and legal basis
Article 25 of the Uruguayan Law number 15.322 on the system of financial intermediation, which establishes a banking secrecy (and exceptions thereto) in Uruguay, provides, among other things, that disclosure by CBL shall only occur when requested by way of legitimate resolution from either penal jurisdiction or the jurisdiction competent for alimentary obligations.
Obligation to report threshold crossings
Threshold reporting obligations are not applicable in Uruguay.
Sanctions
A breach of Article 25 may result in imprisonment for from three months to three years.