Regulatory Alerts2007-08-02 | CD-SIBOIF-492-1-AGOS2-2007Added · Updated
Norm on the Authorization and Operation of Stock Exchanges
The Superintendence of Banks and Other Financial Institutions establishes the requirements and conditions for the constitution, operation, and supervision of stock exchanges. It mandates specific documentation for applicants, including feasibility studies, shareholder information, and proof of lawful wealth origin, while setting capital requirements such as 80% of minimum capital held in sight deposits at the Central Bank. The regulation defines impediments for board members, restricts proprietary investments to 10% of issuance or total assets, and requires internal regulations and a code of conduct to ensure transparency and prevent conflicts of interest.
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