Norm on Update of Minimum Guarantee Amounts for Stock Exchange Positions and Stockbrokers

Resolution CDMF-VIII-6-25
Dated March 12, 2025

NORM ON UPDATE OF THE AMOUNT OF MINIMUM GUARANTEES FOR STOCK EXCHANGE POSITIONS AND STOCKBROKERS

The Monetary and Financial Board,

CONSIDERING

I

That Article 156 of Law No. 1232 “Law on the Administration of the Monetary and Financial System”, published in La Gaceta, Official Journal No. 241, of December 30, 2024 (hereinafter Law No. 1232), establishes that “…all those faculties, competencies, powers, attributions, and duties established in other laws, prior to the effectiveness of the present Law, attributed to the Board of Directors of the Central Bank and to the Board of Directors of the Superintendence of Banks… are transferred to the Monetary and Financial Board.”

II

That Article 182, numeral v) of Law No. 587, “Capital Market Law”, contained in Law No. 1175, “Law of the Nicaraguan Legal Digest on Banking and Finance Matters”, published in La Gaceta, Official Journal No. 153, of August 20, 2024, establishes that stock exchange positions and stockbrokers must provide a bond whose amount will be established by the Board of Directors, which may adjust it every two years according to the variation of the official exchange rate of the national currency.

III

That through the Norm on the Amount of Minimum Guarantees for Stock Exchange Positions and Stockbrokers, contained in Resolution No. CD-SIBOIF-474-1-ABR13-2007, dated April 13, 2007, published in La Gaceta, Official Journal No. 106, of June 6, 2007, the Board of Directors established that authorized stock exchange positions must provide a minimum guarantee of five hundred thousand córdobas (C$500,000.00) in favor of the stock exchanges in which they participate, and in the case of stockbrokers, the amount of said guarantee would be two hundred fifty thousand córdobas (C$250,000.00).

IV

That through the Norm on the Update of the Amount of Minimum Guarantees for Stock Exchange Positions and Stockbrokers, contained in Resolution No. CD-SIBOIF-1365-4-MAR7-2023, dated March 7, 2023,

published in La Gaceta, Official Journal No. 58, of March 29, 2023, the minimum amount of said guarantees was updated to nine hundred ninety-five thousand five hundred córdobas (C$995,500.00) for stock exchange positions and to four hundred ninety-eight thousand córdobas (C$498,000.00) for stockbrokers.

V

That according to the considerations stated above and based on Article 6, literal b) of the Capital Market Law; and Article 17, clause A), numerals 1) and 3) of said Law No. 1232.

In exercise of its faculties,

HAS ISSUED

The following:

NORM ON UPDATE OF THE AMOUNT OF MINIMUM GUARANTEES FOR STOCK EXCHANGE POSITIONS AND STOCKBROKERS

Article 1. Update of the Amount of Guarantees.- The amount of the minimum guarantee that stock exchange positions must provide in favor of the stock exchanges in which they participate is updated to one million three thousand five hundred córdobas (C$1,003,500.00). Likewise, in the case of stockbrokers, the amount of said guarantee is updated to five hundred two thousand córdobas (C$502,000.00).

Article 2. Term.- A term of forty-five (45) days is established, counted from the entry into force of this norm, for stock exchange positions that are operating, as well as their brokers, to update the amount of their guarantees in accordance with the terms expressed herein.

According to what is established in the Norm on the Operation of Stock Exchange Positions and their Brokers, to register with the Superintendence, new positions and brokers must previously present a certified copy of the bond provided to the stock exchange for the updated amount established in this norm.

Article 3. Repeal.- The Norm on the Update of the Amount of Minimum Guarantees for Stock Exchange Positions and Stockbrokers, contained in Resolution CD-SIBOIF-1365-4-MAR7-2023, dated March 7, 2023, published in La Gaceta, Official Journal No. 58, of March 29, 2023, is repealed.

Article 4. Effectiveness.- This norm will enter into force upon notification by the Superintendence of Banks and Other Financial Institutions, without prejudice to its publication in La Gaceta, Official Journal.

(f) legible, Ovidio Reyes R. President of the Board of Directors; (f) Illegible, Luis Ángel Montenegro Espinoza, Vice President of the Board of Directors; (f) Illegible, Bruno Gallardo, Minister of Finance, Proprietary Member; (f) illegible, Roberto Rivas, Non-executive Proprietary Member; (f) Illegible, Hugo Ortega, Non-executive Proprietary Member. The undersigned Ruth Elizabeth Rojas Mercado, Secretary of the Monetary and Financial Board of Directors, certifies that it conforms to its original, with which it was duly compared. (f) Illegible, RUTH ELIZABETH ROJAS MERCADO, Secretary of the Monetary and Financial Board of Directors.