Regulatory Alerts2022-01-01 | JPRF-F-2022-047Resolution No. JPRF-F-2022-047: Norm for the Formation of Financial Groups and Permitted Operations
The Financial Policy and Regulation Board of Ecuador issued Resolution No. JPRF-F-2022-047 to update the regulatory framework for financial groups in alignment with recent constitutional and statutory reforms. The resolution expands the definition of financial activities and group composition to explicitly include insurance and securities companies, while establishing strict rules on ownership, related-party transactions, and risk management. It mandates consolidated supervision by the Superintendency of Banks and requires mutual cooperation agreements between financial regulators to ensure effective oversight of these integrated groups.
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