This Regulation is issued under the authority of Decretal Federal Law No. 14 of 2018 Regarding the Central Bank & Organization of Licensed Financial Institutions and Activities, as amended and the Federal Law No. 6 of 2007 concerning the Organization of Insurance Operations, as amended (“Insurance Law”).

The Scope of this Regulation applies to all Licensed Financial Institutions and Insurance Companies as defined by Article 1 of this Regulation and their obligations and responsibilities regarding their relationship with the Ombudsman Unit and its operations. Furthermore, this Regulation sets out the definition as to those consumers and persons that are given a right of free access to the Complaint resolution mechanism of the Ombudsman Unit.

This Regulation is in addition to any requirement of any other regulatory authority as applicable to all Licensed Financial Institutions and Insurance companies. In case of any conflict with such requirement, the provisions of this Regulation will prevail, unless otherwise specified in this Regulation.

Where this Regulation includes requirements to provide information, to take certain measures or to address certain items listed as a minimum, the Central Bank may impose requirements that are additional to the listing provided in the relevant Articles.

The Central Bank may issue further guidance relating to this Regulation.