Regulatory Alerts2023-01-27
Added · Updated
Compilation of Pension Fund Control Regulations - Investment Limits for Pension Fund Administrators - Modifications
The Financial Regulatory Superintendent modifies the Investment Limits for Pension Fund Administrators by replacing Articles 50, 59, and 60 and incorporating Articles 59.1 and 79.3.1 into the Compilation of Pension Fund Control Regulations. The amendments establish specific conditions for primary market acquisitions, including public offering requirements and risk ratings, and define permissible compositions for financial trusts. Additionally, the rules set a 20% portfolio limit for Accumulation Subfunds in Uruguayan company shares and clarify that issuer-level investment limits do not apply to holding companies engaged solely in real estate activities managed by trustees.
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