Resolution No. JPRF-A-2025-0149: Substitutes the Text of Article 21 of the Operating Regulations of the Financial Policy and Regulation Board

Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas, Governmental Financial Management Platform. Red Block, 8th floor
| Postal Code: 170507 | Quito - Ecuador |
Resolution No. JPRF-A-2025-0149
THE FINANCIAL POLICY AND REGULATION BOARD
CONSIDERING:
That, Article 226 of the Constitution of the Republic of Ecuador prescribes that State institutions, their agencies, dependencies, public servants, and persons acting by virtue of a State power shall exercise only the competencies and faculties attributed to them in the Constitution and the law; having the duty to coordinate actions for the fulfillment of their purposes and to make effective the enjoyment and exercise of rights recognized in the Constitution; That, Article 13 of the Organic Monetary and Financial Code, Book I, reformed since the promulgation of the Organic Reformatory Law to the Organic Monetary and Financial Code for the Defense of Dollarization, created the Financial Policy and Regulation Board, part of the Executive Function, as a public law legal entity, with administrative, financial, and operational autonomy, responsible for the formulation of credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation; That, Article 14 of the aforementioned Code, Book I, in number 1, determines that, within the scope of the Financial Policy and Regulation Board, it corresponds to formulate credit, financial, including insurance policy, prepaid comprehensive health care services, and securities policy. The aforementioned article also establishes that, for the fulfillment of these functions, the Financial Policy and Regulation Board shall issue regulations in matters within its competence, without being able to alter legal provisions; That, the same Organic Monetary and Financial Code, Book I, in article 14.1, prescribes that, for the performance of its functions, the Financial Policy and Regulation Board must comply with certain duties and exercise certain faculties; among which is that determined in number 20, which is, to issue the operating regulations of the Financial Policy and Regulation Board and the Code of Ethics. For this effect, the same article states that all norms and policies issued by the Financial Policy and Regulation Board, in the exercise of its functions, duties, and faculties, must be backed by duly founded and argued technical reports; That, Article 19 ibidem states that the Financial Policy and Regulation Board shall issue regulations that regulate its functioning, based on the provisions of the Organic Monetary and Financial Code; That, through Resolution No. JPRF-A-2022-022 of March 16, 2022, the Financial Policy and Regulation Board issued the "Operating Regulations of the Financial Policy and Regulation Board"; That, through Resolution No. JPRF-A-2023-079 of September 23, 2023, article 21 of the "Operating Regulations of the Financial Policy and Regulation Board," issued by means of Resolution No. JPRF-A-2022-022 of March 16, 2022, was reformed, incorporating the letter "P" which refers to policies that this regulatory body is empowered to issue; That, the Technical Secretary of the Financial Policy and Regulation Board, through Memorandum No. JPRF-ST-2025-0032-M
of April 25, 2025, submitted to the President of the Board the draft resolution and the Legal Report No. JPRF-CJF-2023-018 of April 25, 2025, issued by the Legal Coordination of Financial Policy and Norms of the Board; a legal report, whose numbering was rectified to JPRF-CJF-2025-018 through Legal Report No. JPRF-CJF-2025-019 of April 28, 2025, which concludes that the Financial Policy and Regulation Board, as responsible for the formulation of credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation, has legal competence and faculty to formulate credit, financial, including insurance policy, prepaid comprehensive health care services, and securities policy; in accordance with what is provided in article 14, number 1, of the Organic Monetary and Financial Code, Book I; and, that the Financial Policy and Regulation Board has the legal attribution to issue its regulations and norms that regulate its functioning, based on the provisions of the Organic Monetary and Financial Code, in accordance with what is mandated by number 20 of article 14.1 of the aforementioned Organic Code and article 19 ibidem;

Resolution No. JPRF-A-2025-0149

---

Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas, Governmental Financial Management Platform. Red Block, 8th floor
| Postal Code: 170507 | Quito - Ecuador |
That, the Financial Policy and Regulation Board, in an ordinary session held by technological means, convened through its reach of April 25, 2025, and carried out through video conference on April 28, 2025, learned of Memorandum No. JPRF-ST-2025-0032-M of April 25, 2025, issued by the Technical Secretary of the Board; as well as the aforementioned Legal Report from the Legal Coordination of Financial Policy and Norms, in addition to the corresponding draft resolution; That, the Financial Policy and Regulation Board, in an ordinary session held by technological means, convened through its reach of April 25, 2025, and carried out through video conference on April 28, 2025, learned of and approved the following Resolution; and, In exercise of its functions, RESOLVES:
SINGLE ARTICLE.- Substitute the text of article 21 of the Operating Regulations of the Financial Policy and Regulation Board issued by means of Resolution No. JPRF-A-2022-022 of March 16, 2022, and reformed through Resolution No. JPRF-A-2023-079 of September 23, 2023, with the following:

"Article 21.- Resolutions.- The decisions taken by the Board regarding policies, regulations, approvals, authorizations, and other acts shall be expressed through resolutions, in accordance with what is provided in Article 21 of the Organic Monetary and Financial Code, Book I.
Resolutions on policies and regulations issued by the Board shall be numbered successively, maintaining a sequential number that begins from one (1) by prefixing the necessary amount of zeros, adding the year of issuance and an identifier code according to the following nomenclature, as appropriate:
F: Financial
V: Securities
S: Insurance
M: Prepaid Medicine
T: Transversal
P: Policy
A: Internal Administrative
G: General, Approvals, and Authorizations
Example: Resolution No. JPRF-A-2022-001, page # of # Resolutions under the codes: F, V, S, M, T, and P, being norms of general application, of mandatory compliance, must be codified.
Resolutions classified as G and A are declarations that produce individual legal effects that are exhausted with their compliance or internal administrative norms of the Board, respectively, which will not be codified. Without prejudice to this, they will appear in the annex of the Codification in chronological order.
Consultations, requests, or petitions related to the formulation of policies and regulations shall be known and resolved by the collegiate body of the Board, as appropriate; whose resolutions shall be made known to the proponent by the Technical Secretary. The other petitions presented shall be attended by the Technical Secretariat of the Board."

Resolution No. JPRF-A-2025-0149

---

Address: Av. Amazonas between Pereira and Unión Nacional de Periodistas, Governmental Financial Management Platform. Red Block, 8th floor
| Postal Code: 170507 | Quito - Ecuador |
FINAL PROVISION.- This Resolution shall enter into force from the present date, without prejudice to its publication in the Official Register. Publish this Resolution on the website of the Financial Policy and Regulation Board, within a maximum term of two days from its issuance.
NOTIFY.- Given in the Metropolitan District of Quito, on April 28, 2025.
THE PRESIDENT,
Mgs. María Paulina Vela Zambrano
The aforementioned resolution was processed and signed by Master María Paulina Vela Zambrano, President of the Financial Policy and Regulation Board, in the Metropolitan District of Quito, on April 28, 2025.- I CERTIFY.
TECHNICAL SECRETARY,
Mgs. Luis Alfredo Olivares Murillo