Regulatory Alerts2019-05-16 | CD-SIBOIF-1112-1-MAY16-2019Norm Reforming Article 9 of the Norm on Organization and Operation of the Securities Register of the Superintendence of Banks and Other Financial Institutions
The Board of Directors of the Superintendence of Banks and Other Financial Institutions of Nicaragua issued Resolution No. CD-SIBOIF-1112-1-MAY16-2019 to amend Article 9 of the Securities Register regulations. The reform establishes specific procedures for the suspension of registry accounts, including voluntary suspension of stock exchange operations which requires a detailed action plan, notarial certification, and confirmation of no pending liquidations. The resolution mandates that such suspensions be recorded in the register's relevant facts section and remain effective for a maximum of one year before the account can regain legal efficacy.
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