Regulatory Alerts2015-06-10 | JB-2015-3471Banking Board Resolution JB-2015-3471
The Banking Board of Ecuador rejected the administrative review appeal filed by Banco Pichincha C.A. against a decision to archive a previous administrative reconsideration request. The Board confirmed that the appeal was improperly directed against the Secretary of the Board rather than the Superintendant of Banks and Insurance, rendering it procedurally inadmissible. Consequently, the Board upheld the Secretary's order to archive the original reconsideration request filed by the bank.
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