JPRM-2023-021-A — Acceptance of Resignations of Members of the Audit Committee of the Central Bank of Ecuador

RESOLUTION No. JPRM-2023-021-A THE MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes that public officials and persons acting by virtue of a state power shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 ibidem states that Public Administration constitutes a service to the community governed by the principles of efficiency, quality, hierarchy, coordination, planning, among others;

That, Article 47.1 of the Organic Code of Monetary and Financial creates the Monetary Policy and Regulation Board as part of the Executive Function, responsible for the formulation of monetary policy, the highest governing body of the Central Bank of Ecuador, and determines its composition;

That, paragraphs 15 and 26 of Article 47.6 of the aforementioned Code, among other functions of the Monetary Policy and Regulation Board, determine: “15. Establish and regulate the functioning of the committees that may be necessary for the functioning of the Bank; (…) 26. Those others conferred by law.”;

That, Article 57.2 of the Organic Code of Monetary and Financial establishes that the Monetary Policy and Regulation Board shall designate and determine the attributes and functions of the Audit Committee that will assist it in the oversight of financial reports, internal audit, external audit, and internal control systems;

That, through Resolution No. JPRM-2021-006-A, of December 17, 2021, reformed with Resolution No. JPRM-2022-030-A, of December 19, 2022, the Monetary Policy and Regulation Board issued the “REGULATION OF THE AUDIT COMMITTEE OF THE CENTRAL BANK OF ECUADOR”;

That, Article 5 ibidem states: “Members of the Audit Committee will perform their functions for a period of four (4) years, which may be renewed only once.”;

That, Article 7 of the aforementioned Regulation establishes: “The functions of the members of the Audit Committee of the Central Bank will end, before the period for which they were designated, when they incur in the following causes: (…) 9. By voluntary resignation. (…)”

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In the event of termination of functions or permanent absence of any of the members, whoever replaces them will exercise the functions for the remaining time to complete the period of the member whose functions ended.”; and,

That, through Resolution No. JPRM-2022-001-A, of January 10, 2022, the Monetary Policy and Regulation Board designated Xavier Marino Puebla Puebla; Cristina Alexandra Trujillo Calero; and, Guido Gerardo Orrico Real, as members of the Audit Committee of the Central Bank of Ecuador; and,

That, through a memorandum without number, of October 1, 2023, the authorized public accountant Xavier Puebla presented his resignation from the position of Member of the Audit Committee of the Central Bank of Ecuador;

That, through a memorandum without number, of October 24, 2023, the doctor Guido Orrico presented his resignation from the position of Member of the Audit Committee of the Central Bank of Ecuador;

That, the Monetary Policy and Regulation Board, in an ordinary session under mixed modality, on November 20, 2023, reviewed the memoranda of resignation of Xavier Puebla and Guido Orrico from the position of the Audit Committee of the Central Bank of Ecuador;

In exercise of its functions and in attention to Article 47.7 of the Organic Code of Monetary and Financial, the Monetary Policy and Regulation Board resolves:

RESOLVES

Article 1.- Accept the resignations presented by Mr. Xavier Marino Puebla Orrico and Mr. Guido Gerardo Orrico Real, from the position of member of the Audit Committee of the Central Bank of Ecuador and thank them for the valuable services rendered to the country through their actions performed in the Institution.

SINGLE GENERAL PROVISION. – The General Administrative and Financial Coordination of the Central Bank of Ecuador, through its Directorates, will execute the pertinent administrative actions to implement this resolution.

SINGLE TRANSITORY PROVISIONS. – The former members of the Audit Committee of the Central Bank of Ecuador must present their management report, within a term of three days, counted from the notification of this Resolution.

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FINAL PROVISION. - This resolution will enter into force from the present date, without prejudice to its publication in the Official Register.

It is entrusted to its publication on the institutional website of the Central Bank of Ecuador to the Direction of Documentary Management and Archive.

NOTIFY AND PUBLISH. - Given in the Metropolitan District of Quito, on November 20, 2023.

THE PRESIDENT Dr. TATIANA MARIBEL RODRÍGUEZ CERÓN

The preceding resolution was signed by Dr. Tatiana Maribel Rodríguez Cerón - President of the Monetary Policy and Regulation Board, in the Metropolitan District of Quito, on November 20, 2023.- I CERTIFY.

ADMINISTRATIVE SECRETARY Attorney MARÍA ALEXANDRA GUERRERO DEL POZO