Regulatory Alerts2023-01-01 | JPRF-V-2023-068Resolution No. JPRF-V-2023-068: Reforming the Standard to Prevent Money Laundering and Terrorist Financing in Securities Market Participants
The Financial Policy and Regulation Board of Ecuador issued Resolution No. JPRF-V-2023-068 to harmonize anti-money laundering and counter-terrorist financing regulations for securities market participants with international standards and other financial sectors. The resolution mandates specific structural and operational changes, including the establishment of compliance committees, strict independence for compliance officers, and enhanced confidentiality protocols for internal and external auditors. It further defines new grounds for the suspension or cancellation of compliance officer registrations and sets a three-month implementation deadline for all obligated entities.
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