Regulatory Alerts2020-01-14 | CD-SIBOIF-1148-2-ENE14-2020Norm on Minimum Information Required for Representation Offices of Foreign Banks and Financial Institutions
The Board of Directors of the Superintendence of Banks and Other Financial Institutions of Nicaragua issued Resolution CD-SIBOIF-1148-2-ENE14-2020 to establish minimum information requirements for the representation offices of foreign banks and financial institutions. The regulation mandates the maintenance of detailed organizational, credit, investment, and deposit data, while requiring strict adherence to anti-money laundering and counter-terrorism financing protocols. Additionally, it imposes specific public disclosure obligations and sets a ninety-day compliance window for existing offices upon the norm's entry into force.
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