Regulatory Alerts2024-11-26 | Circular 14/2024Added
Circular 14/2024 — Modifications to the Procedure for Acting as Market Makers for Government Securities
This circular transmits modifications to the procedure for acting as market makers for government securities and UDIBONOs, specifically establishing a mechanism for the transmission of market maker status resulting from corporate acts of spin-off and merger. It amends the original Office Order 305-027/2011 to allow financial intermediaries to request the transfer of market maker status to a successor entity, subject to regulatory authorization and the submission of a joint written application detailing the corporate acts and related accounting records. The modifications also adjust calculation periods for incentive factors and clarify the handling of existing loan operations during such transmissions.
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