Regulatory Alerts2020-10-12
Circular 82-3 on Shareholding
The Bank of the Republic of Haiti issued Circular 82-3 to regulate shareholding in banks and financial institutions, establishing a 20% ownership cap for primary institutions and a 5% cap for secondary ones. It mandates that any individual or entity holding 10% or more of capital or voting rights is classified as a qualified shareholder, requiring prior notification to the central bank at least three months before any acquisition or transfer. The circular also imposes strict compliance reporting obligations and significant financial penalties for non-compliance or failure to disclose qualified shareholding changes.
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