Regulatory Alerts2020-09-16
Decree No. 119-16 Modifying Various Articles of Decree No. 664-12 Approving the Regulations for the Application of the Securities Market Law
President Danilo Medina issued Decree No. 119-16 to amend the Regulations for the Application of the Securities Market Law, specifically defining trust securities and establishing rules for their issuance, liquidation, and hedging mechanisms. The decree mandates that trust securities be issued by authorized societies against the trust's assets and requires specific disclosures in offering prospectuses, including a disclaimer limiting the trustee's personal liability. These changes incorporate public consultation feedback to stabilize the financial system and expand investment instruments within the Dominican Republic's securities market.
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