Regulatory Alerts2025-12-17 | NDMC-41Technical Standards for the Transfer, Merger, Dissolution and Liquidation of Private Alternative Investment Funds, Administrators and Fixed Capital Investment Companies
The Central Reserve Bank of El Salvador issued Technical Standards NBCR-10/2025 to regulate the transfer, merger, dissolution, and liquidation of Private Alternative Investment Funds (PAIF), Administrators, and Fixed Capital Investment Companies (SICAF). The document establishes detailed procedures, timelines, and documentation requirements for transferring subordinate PAIFs due to authorization revocation or voluntary decisions, and sets criteria for merging similar funds. It further defines the obligations of ceding and acquiring administrators, including notification protocols for participants and the succession of rights and liabilities.
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