Regulatory Alerts2025-12-17 | NDMC-39Technical Standards for the Authorization and Operation of Subordinated Private Alternative Investment Funds
The Central Reserve Bank of El Salvador issued Technical Standards to regulate the authorization and operation of Subordinated Private Alternative Investment Funds (PAIF). These rules mandate that Administrating Societies implement rigorous investor accreditation, anti-money laundering controls, and internal governance procedures to ensure fund integrity. The document further specifies the documentation required for fund authorization, including internal regulations, prospectuses, and guarantees, while defining the rights and obligations of both the fund managers and sophisticated investors.
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