Regulatory Alerts2023-03-17
Added · Updated
Compilation of Securities Market Regulations – Resolutions of the Board of Directors of the Central Bank of Uruguay or the Superintendence of Financial Services arising from supervision or audit acts – Modification
The Superintendence of Financial Services replaced Article 256 of Book VI of the Compilation of Securities Market Regulations to mandate that issuers, stock exchanges, crowdfunding platform administrators, securities intermediaries, investment advisors, portfolio managers, investment fund administrators, trustees, securities depositories, and credit rating agencies transcribe specific regulatory resolutions and paid fines into their administrative body's minutes. This transcription must occur within 90 days of notification or resolution issuance, or within the timeframe specified in the resolution itself. The requirement applies only to institutions legally obligated to maintain corporate books.
Montevideo, March 17, 2023 Ref: COMPILATION OF SECURITIES MARKET REGULATIONS – Resolutions of the Board of Directors of the Central Bank of Uruguay or of the Superintendence of Financial Services arising from supervision or audit acts – Modification.
The market is informed that the Superintendence of Financial Services adopted the following resolution on March 13, 2023:
- REPLACE in PART I – GENERAL PROVISIONS, of BOOK VI – INFORMATION AND DOCUMENTATION, of the Compilation of Securities Market Regulations, Article 256 with the following:
ARTICLE 256 (RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF URUGUAY OR OF THE SUPERINTENDENCE OF FINANCIAL SERVICES ARISING FROM SUPERVISION OR AUDIT ACTS).
Issuers of public offer securities, stock exchanges, crowdfunding platform administrator companies, securities intermediaries, investment advisors, portfolio managers, investment fund administrator companies, general and financial trustees, securities depositories, and credit rating agencies shall transcribe into the minutes book of the administrative body, within 90 (ninety) days following notification or within the period indicated in the resolution itself, the resolutions adopted by the Board of Directors of the Central Bank of Uruguay or the Superintendence of Financial Services, referring to each institution individually arising from acts of supervision or audit of compliance with legal and regulatory norms and particular instructions. Likewise, they shall record in the aforementioned book the fines settled by the institution itself, within 90 (ninety) days following their settlement.
This requirement shall not apply to institutions that do not have the legal obligation to maintain corporate books.
Juan Pedro Cantera Superintendent of Financial Services 2023-50-1-00190 Diagonal Fabini 777 - P.O. Box 11100 - Tel.: (598 2) 1967 - Montevideo, Uruguay - www.bcu.gub.uy CIRCULAR NO. 2426
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