2017-11-22

Law No. 311-14 — Bill on Sworn Asset Declaration

The National Congress of the Dominican Republic enacted Law No. 311-14 to establish a National Automated and Uniform System for Sworn Asset Declarations, requiring high-ranking public officials to disclose their wealth to combat administrative corruption. The legislation mandates the submission of initial and final asset inventories, defines a comprehensive list of obligated officials, and grants the Chamber of Accounts authority to verify declarations and impose sanctions for omissions or falsification. Furthermore, the law introduces criminal penalties for illicit enrichment, including imprisonment and asset confiscation, while lifting banking secrecy to facilitate investigations into unexplained wealth increases.

Dominican Republic

Superintendencia del Mercado de Valores (Dominican Republic)

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