Regulatory Alerts2024-01-01 | JPRF-V-2024-0107Resolution JPRF-V-2024-0107: Reforms to the Constitution, Authorization, and Registration of Centralized Securities Depositories and Clearing and Settlement Depositories
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-V-2024-0107 to clarify the functions and responsibilities of centralized securities depositories and align regulations with the Securities Market Law. The resolution mandates the use of ISIN codes, establishes strict ownership caps for depository shareholders, and restricts third-party account registration to authorized financial entities. It further assigns liability for verifying participant identity and legal capacity to securities houses and grants the Superintendency of Companies, Securities and Insurance authority to interpret the resolution's provisions.
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