Regulatory Alerts2024-09-11
Direction No. 2 – Responsibilities of Authorised Dealers and Authorised Depositaries
The Central Bank of Belize issued Exchange Control Direction No. 2 to define the operational responsibilities and duties of appointed Authorised Dealers and Authorised Depositaries under the Exchange Control Regulations Act 2003. The directive mandates that these entities maintain foreign currency transaction capabilities, ensure strict compliance with regulatory forms such as the XCH1, and report any contraventions like false information or unauthorized fund movements. It further delineates specific authorities for dealers to trade gold and currency while assigning depositaries the duty to receive securities and provide required statistical returns to the Central Bank.
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