Regulatory Alerts2018-10-16 | CD-SIBOIF-1077-2-OCTU16-2018Added · Updated
Norm for the Distribution of Profits of General Warehouses
The Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1077-2-OCTU16-2018 to establish conditions for general warehouses to obtain authorization for profit distribution. Warehouses must submit a request and meet specific requirements, including maintaining minimum social capital, having no pending adjustments or losses affecting paid-in capital, and ensuring their last external audit report is unqualified. Distribution is prohibited until written authorization is obtained from the Superintendent. The norm entered into force upon notification on October 16, 2018.