Regulatory Alerts2000-02-18
Added · Updated
Resolution No. 0084-2000: Approval of Accounting Standards for Trusts and Fiduciary Commissions
The Superintendent of Banking and Insurance approved accounting rules for the recognition and recording of trust and fiduciary commission operations by financial and insurance companies. The resolution also established procedures for the substitution of fiduciaries in liquidation, mandating the transfer of trusts to other companies within six months or their termination. These measures were incorporated into the Regulation of Trusts and Fiduciary Service Companies and entered into force the day following publication in the Official Gazette.
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