Regulatory Alerts2023-10-16 | JPRF-F-2023-085Added · Updated
JPRF-F-2023-085 — Incorporates the Standard for Extraordinary Merger Processes of Entities in the Public and Private Financial Sector
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-085 to establish the regulatory framework for extraordinary mergers involving public and private financial sector entities. The resolution defines specific conditions under which a financially deficient entity may be absorbed, sets eligibility criteria for absorbing entities, and outlines the procedural requirements for the merger process. It further details the powers of the Banking Superintendence to approve mergers, manage asset transfers, and enforce post-merger provisioning and compliance obligations.
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