System For Compilation Of Information From Financial Entities To Fight Corruption In Effect As Of September 1

The System for the Compilation of Information from Financial Entities (SIRIEFI), part of the Integrated System For Anticorruption Information And Recovery Of State Property (SIIARBE) began operating on September 1, 2016. SIIARBE is mandated by Bolivia's Law on the Fight against Corruption, Illicit Enrichment and Investigation of Wealth (2010) ("LFAC") to allow relevant entities to exchange information to assist the Ministry of Institutional Transparency and Fight against Corruption ("MITFC") in corruption investigations and to facilitate the protection of the confidentiality of the information exchanged.

SIRIEFI's implementation was coordinated with the Financial System Supervisory Authority ("ASFI"). Financial intermediaries regulated by ASFI, as well as brokerage firms and investment fund administrators and the Bolivian Central Bank (collectively, "Participant Entities"), must participate in SIRIEFI.

The MITFC, the Attorney General, the Financial Investigations Unit (part of ASFI), and designated Special Anticorruption Prosecutors may issue notifications regarding corruption investigations and related information requests to the Participant...

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