Regulatory Alerts2002-07-29 | CD-SIBOIF-209-1-JUL4-2002Added · Updated
Norm on Conflicts of Interest and Code of Conduct for Staff of the Superintendence of Banks and Other Officials Appointed by the Superintendent
The Superintendence of Banks and Other Financial Institutions of Nicaragua approves a regulatory framework establishing conflict of interest rules and a code of conduct for its personnel and appointed officials. The norm mandates annual and immediate disclosure of assets and interests, prohibits the receipt of gifts exceeding US$100 without justification, and restricts credit transactions with supervised entities. It imposes strict eligibility criteria for hiring supervisors, including cooling-off periods for former bank executives, and sets professional and integrity requirements for administrators and liquidators of intervened banks.
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