Regulatory Alerts2023-01-01 | JPRF-F-2023-077Resolution No. JPRF-F-2023-077 Amending Chapter I on Financial Entity Authorization and Chapter XLVII on Indirect Ownership Determination
The Financial Policy and Regulation Board of Ecuador issued Resolution No. JPRF-F-2023-077 to align its secondary regulations with reforms to the Organic Monetary and Financial Code. The resolution mandates that the threshold for individuals or entities considered to have influential patrimonial ownership be raised from 6% to 25% of subscribed and paid capital. Additionally, it updates the criteria for determining indirect ownership, adjusting shareholding and business relationship percentages to reflect the new legal standard.
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