meta_id 3520264

On September 16, 2026, the Superintendent of Banks (Superintendencia de Bancos, SB) established a formal process enabling supervised financial intermediaries, foreign exchange intermediaries, and trust companies to request evaluation for deactivation of regulatory information reporting obligations that do not apply to their operational nature. The measure forms part of the Strategy for Simplification, Modernisation and Self-Management of Regulatory Compliance (SIMA), an SB initiative designed to strengthen regulatory compliance efficiency, reduce unnecessary operational burdens, and concentrate supervised entities' efforts on obligations that genuinely apply to them. The process is outlined in Circular SB: CSB-REG-2026000016 and employs a formal, risk-based evaluation framework to determine the viability of deactivation and subsequent reactivation requests for information requirements. Under the previous framework, entities must submit all reports mandated by applicable regulations, even when generating no information for a given period, through empty file reports or blank document uploads. The SB acknowledged this mechanism strengthened compliance controls but created operational burden for entities whose business models render certain obligations permanently inapplicable. The new disposition allows entities to identify requirements unrelated to their operations and formally request evaluation for possible deactivation. The SB will analyse each case and determine whether to exclude the corresponding obligation while preserving information quality, timeliness, and traceability required for supervisory functions. The SB emphasised that regulatory reporting simplification aligns with objectives promoted by the Zero Bureaucracy programme, a flagship initiative linked to the state transformation agenda and Meta 2036, aimed at elevating productivity and institutional efficiency. All active obligations must continue being fulfilled according to established timelines and conditions, regardless of operational activity. The SB plans additional SIMA initiatives, including developing a case self-management system for entities to regularise identified non-compliance, optimising the Information Requirements Manual for efficient consultation and real-time updates, and publishing a validation rules catalogue promoting proactive regulatory information quality review.