Uruguay: Regulatory Waiver

The Regulator

The Central Bank of Uruguay was established on July 6, 1967. Its responsibilities are to:

  • Issue notes and coins,
  • Manage monetary, credit and currency exchange as set out by law
  • Act as economic advisor and financial agent to the Government
  • Administer the international reserves of the State
  • Be the banker of all government institutions
  • Regulate and supervise all financial institutions

Requirements to Practice

In Circular No. 2251, dated 27 January 2016, Article 214 mandates that to act as Securities Intermediaries and Investment Advisors, professionals must demonstrate competency by completing one of the following:

  • Relevant courses in finance
  • A postgraduate degree in finance
  • An international qualification or designation.

The Exemption

As the CFA Charter is an international certification, CFA charterholders are eligible to  prove they have the knowledge necessary to practice as an Intermediary Securities and Investment Advisory.

Please read Article 214 in Circular No. 2251, dated 27 January 2016 for more information.