Regulatory Alerts2017-11-03 | CD-SIBOIF-1024-2-NOV3-2017Added · Updated
Norm for the Implementation of the Accounting Framework for Securities Market Financial Institutions
The Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1024-2-NOV3-2017 to approve the Accounting Framework for Securities Market Financial Institutions based on International Financial Reporting Standards. Securities market financial institutions must implement this framework during a transition period from January 1 to December 31, 2018, with mandatory adoption starting January 1, 2019. The resolution repeals previous norms on the Single Chart of Accounts effective January 1, 2019, and prohibits institutions from applying the framework to securities lending and financial derivative instruments without express authorization.
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