Regulatory Alerts2008-10-29 | CD-SIBOIF-558-1-OCT29-2008Added · Updated
Norm on the Registration of Dematerialized Securities
The Superintendence of Banks and Other Financial Institutions establishes rules for the registration, administration, and negotiation of dematerialized securities issued by public and private entities. It mandates a two-level accounting registry system managed by the Central Bank of Nicaragua for public issuances and authorized Value Centers for private issuances, while depositants maintain the ultimate beneficial ownership records. The regulation sets technical security and operational requirements for IT systems, defines authorization procedures for service providers, and imposes deadlines requiring new private emissions to be registered electronically immediately upon the norm's entry into force, with public emissions following within 180 days.
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