Regulatory Alerts2023-01-01 | JPRF-F-2023-091Resolution JPRF-F-2023-091 Amending Section XVII on Authorization of New Activities for Popular and Solidarity Financial Sector Entities
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-091 to amend the regulatory framework for the Popular and Solidarity Financial Sector. The resolution authorizes open savings and credit cooperatives to receive demand and time deposits from clients or third parties, subject to prior authorization by the Superintendency of the Popular and Solidarity Economy. This change expands the permitted financial intermediation activities for these entities while maintaining restrictions on closed cooperatives.
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