Regulatory Alerts2021-04-06 | CD-SIBOIF-1240-2-ABR06-2021Norm Reforming Articles 1, 3, 5, 49, and 50 of the Norm on Transparency in Financial Operations
The Superintendence of Banks and Other Financial Institutions (SIBOIF) issued Resolution CD-SIBOIF-1240-2-ABR06-2021 to update its Transparency in Financial Operations Norm in compliance with Law No. 1061. The reform revises key definitions for clients and users, expands consumer rights regarding negative decisions and contract suspensions, and mandates stricter transparency and notification timelines for financial institutions. Additionally, it establishes specific procedures and admissibility criteria for filing complaints with the Superintendence.
Share