Regulatory Alerts2021-06-02
Circular 120 on Public Offerings and Restricted Placements
The Central Bank of Haiti issued Circular 120 to establish regulatory standards for public offerings and restricted placements of financial securities. The directive mandates that issuers meet strict eligibility criteria, including a five-year operational history, minimum capital requirements, and robust corporate governance, while requiring the preparation of either an Investor Information Memorandum for restricted placements or a BRH-approved prospectus for public offerings. It further defines market participants, outlines information disclosure obligations, prohibits insider trading, and grants the central bank authority to enforce compliance and exempt specific entities under defined conditions.
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