Regulatory Alerts2020-08-19 | CEDEVAL-CON-FAPVAdded · Updated
Contract for Deposit, Custody, and Securities Administration Services with Voluntary Pension Savings Fund Administrators
Approved by the Central Reserve Bank of El Salvador and the Securities Superintendency, this document establishes the mandatory contract for deposit, custody, and securities administration services between CEDEVAL and voluntary pension savings fund administrators. It defines CEDEVAL's obligations to provide daily reporting to the Superintendency, maintain confidentiality, and refrain from securities lending, while imposing participant duties such as opening specific accounts and paying applicable commissions. The agreement sets a 60-day notice period for termination, prohibits enforcing CEDEVAL's debts against fund securities, and allows unilateral termination for bankruptcy, fraud, or money laundering activities.
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