Regulatory Alerts2018-03-20 | CD-SIBOIF-1048-1-MAR20-2018Added · Updated
Norm Reforming Article 76 of the Operational and Financial Norm for General Warehouses
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended Article 76 of the Operational and Financial Norm for General Warehouses. The amendment obligates general warehouses to periodically submit financial, legal, operational, and related information to the Superintendence. It grants the Superintendent the authority to determine the specific information, formats, and deadlines via general circular, and to request particular information at any time. This norm entered into force upon its notification on March 20, 2018.
Page 1 of 2 Resolution No. CD-SIBOIF-1048-1-MAR20-2018 Dated March 20, 2018
NORM REFORMING ARTICLE 76 OF THE OPERATIONAL AND FINANCIAL NORM FOR GENERAL WAREHOUSES
The Board of Directors of the Superintendence of Banks and Other Financial Institutions,
CONSIDERING
I
That on July 4, 2014, the Operational and Financial Norm for General Warehouses was approved, contained in Resolution No. CD-SIBOIF-841-1-JUL4-2014, published in La Gaceta, Official Gazette No. 143, on July 31, 2014.
II
That it is necessary to reform Article 76 of the aforementioned norm, in order to empower the Superintendent to request the necessary information for the extra-situ monitoring and supervision of general warehouses, in the manner and timeframes determined by him.
III
That based on the powers conferred by Articles 2 and 139 of Law 734, General Warehouse Law; and Article 2, fourth paragraph, Article 3, numeral 13), and Article 10, numerals 1) and 2) of Law 316, Law of the Superintendence of Banks and Other Financial Institutions, and its amendments.
In exercise of its powers,
HAS ISSUED
The following:
CD-SIBOIF-1048-1-MAR20-2018
NORM REFORMING ARTICLE 76 OF THE OPERATIONAL AND FINANCIAL NORM FOR GENERAL WAREHOUSES
FIRST: Article 76 of the Operational and Financial Norm for General Warehouses, contained in Resolution No. CD-SIBOIF-841-1-JUL4-2014, published in La Gaceta, Official Gazette No. 143, on July 31, 2014, is hereby amended, to read as follows:
“Article 76. Submission of periodic information.- Warehouses shall be obligated to periodically submit to the Superintendence the financial, legal, operational, and related information required for their supervision and oversight. The Superintendent, through a general circular, shall establish the information to be submitted, the format, and the deadlines; without prejudice to his power to request any particular information in a timely manner.”
SECOND: This norm shall enter into force upon its notification, without prejudice to its subsequent publication in La Gaceta, Official Gazette. (signed) S. Rosales C. (signed) M. Díaz O. (signed) Gabriel Pasos Lacayo (signed) Fausto Reyes B. (signed) illegible (Silvio Moisés Casco Marenco) (signed) illegible (Freddy José Blandón Argeñal) (signed) illegible (Edelberto Zelaya Castillo) Ad Hoc Secretary.
URIEL CERNA BARQUERO Secretary of the SIBOIF Board of Directors