Regulatory Alerts2012-06-15 | Circular 8/2012Added
Circular 8/2012 — Modifies Circular 1/2002
This circular modifies the definitions and rules governing derivative financial operations for specialized investment societies of retirement funds. It adds definitions for Swap Contracts, Business Day, and UDIS, while updating definitions for Settlement, Future Operations, Option Operations, and Underlyings. The document prohibits the liquidation in kind of specific underlying assets, including agricultural products, livestock, energy, and metals, and restricts credit derivatives and derivatives on derivatives. These modifications enter into force on June 20, 2012.
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