Regulatory Alerts2015-05-13 | JB-2015-3414Banking Board Resolution JB-2015-3414
The Banking Board of Ecuador confirmed a $200 administrative fine imposed on Johnny Bravo Cevallos, Credit Risk Unit Manager at Banco del Pacífico S.A., for submitting erroneous geographic data in the R02 'Granted Operations' and R20 'Credit Card Opening' statistical reports. The Board rejected the manager's appeal, ruling that the bank remained exclusively responsible for the accuracy of the information and that the submitted corrections did not address the specific errors in the R02 structure. This decision upheld the original sanction issued by the National Directorate of Studies and Information under Article 6.2 of the Codification of Resolutions.
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