Regulatory Alerts2012-06-21
General Decision of the Financial Markets Council No. 18 of June 21, 2012
The Financial Markets Council issued Decision No. 18 of June 21, 2012, which establishes the approval and notification procedures for modifications in portfolio management companies for third-party accounts. It mandates prior Council approval for substantive changes such as new activities, capital control shifts, mergers, director changes, branch additions, and delegated management operations, requiring a formal submission file and public press releases. Conversely, administrative changes like name or contact updates require immediate notification without prior approval, with all modifications subject to specific dissemination timelines and statutory auditor reporting.
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