Regulatory Alerts2024-01-01 | JPRF-F-2024-0118JPRF-F-2024-0118 — Reform to Strengthen the Regulatory Framework for Liquidations of Popular and Solidarity Economy Sector Financial Entities
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2024-0118 to strengthen the regulatory framework governing the liquidation of financial entities under the control of the Superintendence of the Popular and Solidarity Economy. The resolution introduces new prohibitions preventing liquidators from accepting asset acquisition offers from their relatives, contracted parties, and related legal entities to prevent conflicts of interest. It also mandates the Superintendence to update its control norms to ensure compliance with these enhanced liquidation regulations.
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