Regulatory Alerts2020-05-04 | CIEX N° 20/2020Added · Updated
Board Resolution No. 051/2020: Approval of Modifications to the Payment Services, Electronic Payment Instruments, Compensation and Settlement Regulation
The Central Bank of Bolivia amends Article 3 of the Payment Services, Electronic Payment Instruments, Compensation and Settlement Regulation to expand the scope of electronic payment operations for Open Investment Fund Management Companies. The resolution updates definitions for ATMs, payment orders, and fund share redemptions to explicitly include the purchase and redemption of open fund shares, and adds new definitions for 'Share Purchase' and 'Participation Account'. These changes enable financial entities to facilitate electronic transactions for buying and selling investment fund quotas, thereby modernizing the regulatory framework for these specific financial services.