Regulatory Alerts2017-03-24 | CD-SIBOIF-990-1-MAR24-2017Added · Updated
Norm Authorizing Securities Clearing Houses to Accept Multilateral Development Organizations or Funds as Depositories
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended the Capital Markets Law to authorize securities clearing houses to accept multilateral assistance and cooperation funds as direct depositaries. This resolution expands the list of eligible entities to include organizations whose purpose is stimulating economic growth in developing countries. Accredited funds must demonstrate they meet specific characteristics and provide legally valid translations for any non-Spanish documentation. The norm entered into force upon notification on March 24, 2017.
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