Regulatory Alerts2016-03-15 | CD-SIBOIF-933-2-MAR15-2016Added · Updated
Norm Reforming Articles 1 and 2 on Pre-Printed Signatures in Contracts for Financial Operations
The Superintendence of Banks and Other Financial Institutions amended Articles 1 and 2 of the Norm on Pre-Printed Signatures in Contracts Containing Financial Operations to expand the scope of application to non-bank credit card issuers. This amendment authorizes banks, financial societies, non-bank credit card issuers, and insurance companies to use pre-printed signatures of their legal representatives in contracts, provided they comply with formal and internal control requirements. The norm entered into force upon its notification on March 15, 2016.
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