Regulatory Alerts2015-01-26 | CD-SIBOIF-868-1-DIC10-2014Added · Updated
Regulation on Appraisers Providing Services to Financial System Institutions
The Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF 868-1-DIC10-2014 to regulate appraisers providing services to supervised financial institutions. The resolution establishes mandatory registration in the REPEV, requiring professionals to demonstrate two years of experience with ten valuations or non-professionals five years with twenty valuations. Registration certificates are valid for three years and require renewal requests submitted at least thirty days prior to expiration. The regulation also defines specific exceptions allowing internal staff appraisals for agricultural credits, microcredit guarantees up to US$10,000, and insurance policy assets.
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