Regulatory Alerts2015-10-07 | Circular 1/2005Added · Updated
Circular 1/2005 — Trusts
Circular 1/2005 establishes rules for multiple banking institutions, brokerage houses, insurance companies, surety institutions, and limited-purpose financial companies regarding trust operations. It mandates specific contract requirements, transparency measures, and prohibitions, such as banning the guarantee of returns and the use of trust assets to pay sanctions. The circular repeals previous regulations, including sections of Circular 2019/95 and rules from 2000, and takes effect on July 11, 2005.
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