Regulatory Alerts2015-03-25 | JB-2015-3316Banking Board Resolution JB-2015-3316
The Banking Board of Ecuador issued Resolution JB-2015-3316 to reject the administrative review appeal filed by María del Carmen Quevedo Tobar, the legal representative of ASOPREP-FCPC. The Board confirmed the original penalty of US$ 2,628.68 imposed on the representative for failing to submit financial statements for January and February 2014 within the legally mandated eight-day deadline. The decision upheld the National Security Intendancy's finding that the applicant's arguments regarding administrative delays and system modernization did not constitute valid legal grounds for non-compliance.
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