Regulatory Alerts2026-03-25 | CDMF-XII-5-26Norm Reforming Articles 1, 38, 41 and Adding Article 38 Bis to the Standard for the Authorization and Operation of Insurance Intermediaries
The Monetary and Financial Council of Nicaragua issued Resolution CDMF-XII-5-26 to update the regulatory framework for insurance intermediaries by aligning fine units with national minimum wages and establishing specific sanctions for Anti-Money Laundering and Counter-Terrorist Financing violations. The resolution amends Articles 1 and 41 to define the fine unit based on the average national minimum salary and sets monetary penalties ranging from 0.01 to 100 units depending on the severity of infractions. Additionally, it introduces Article 38 Bis, which details light, moderate, and grave offenses related to PLD/FT/FP compliance, including failures in reporting, inadequate training, and breach of confidentiality, with grave offenses potentially leading to the revocation of authorization.