Regulatory Alerts2023-12-21
Added · Updated
Compilation of Financial System Regulation and Control Norms - Normative Modifications to Improve the Authorization Process
The Superintendencia de Servicios Financieros replaces Articles 17 and 18 to impose detailed shareholder, beneficial owner, and economic group disclosure requirements for private financial intermediation institutions organized as anonymous societies or foreign branches. It replaces Articles 73, 74, and 78 to mandate solvency verification, liquidator competence evaluation, and specific documentation for the voluntary dissolution of such institutions. Additionally, it replaces Articles 85 and 86 to establish registration and deregistration procedures for credit administration companies, and replaces Article 86.8 to set registration requirements for major credit granting entities.