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As Latin American countries continue to struggle with the impact of the pandemic, new regulations are helping to shape the region’s economies. The new rules could have serious consequences for US wealth and asset management firms doing business in Latin America, with fines and anti-money laundering violations possible for those who aren’t up to speed with these changes.

With the end of the year fast approaching, we highlight some of the recent regulatory developments across Latin America and how they could impact US firms.

Author

Rebecca Leon is a partner in Baker McKenzie's Financial Regulation and Enforcement Practice Group. She counsels broker-dealer and other financial services clients on a wide range of state and federal securities law issues, as well as on compliance with the rules of the Financial Industry Regulatory Authority (FINRA). She assists clients with a panoply of intercompany, customer and industry agreements and works closely to guide financial services firms on structuring and developing their global operations.