Regulatory Alerts2024-06-28 | NRP-70Technical Standards for the Submission and Collection of Information for the Accounting and Statistical System of Insurance Companies
The Standards Committee of the Central Reserve Bank of El Salvador issued Technical Standards NRP-70 to regulate the submission of accounting and statistical data by insurance companies to the Superintendence of the Financial System. These norms mandate that obligated entities, including local insurers and foreign branches, transmit specific financial balances and investment details via the SCOE database using strict XML formats and validation protocols. Compliance requires adherence to defined submission deadlines, data integrity rules, and personal liability for directors and managers, with violations subject to sanctions under the Financial System Supervision and Regulation Law.
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