Regulatory Alerts2011-04-07
Added · Updated
CONASEV Resolution No. 029-2011
CONASEV declares the appeal filed by Banco Continental S.A. against Resolution No. 185-2010-EF/94.01.3 unfounded, thereby upholding the administrative sanctions imposed on the bank. The upheld sanctions consist of three warnings and a fine of 6.3 UIT (S/. 21,917.50) for the late disclosure of important events regarding the appointment and termination of specific managers, as well as the late submission of individual interim financial statements and the management report for the period ending December 31, 2007. The resolution confirms that the list of important events is non-exhaustive, validates the consideration of prior sanctions as antecedents, and establishes that the management report is only validly presented when both the Responsibility Declaration and Management Analysis and Discussion are submitted together.
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