Regulatory Alerts2018-07-18 | Resolución SBS 2809-2018Added
Resolution SBS No. 2809-2018: Modifying Minimum Investment Requirements for Investment Funds and Mutual Funds within the Private Pension System (Title VI and Regulations for the Investment of Pension Funds Abroad)
The Superintendency of Banking, Insurance and Private Pension Fund Administrators modifies Title VI of the Compendium of Regulatory Supervision Standards and the Regulations for the Investment of Pension Funds Abroad to increase flexibility in indirect investments by Private Pension Fund Administrators (AFPs). The resolution updates Article 25 to mandate rigorous evaluation and monitoring procedures, including scoring methodologies, for investment managers, and revises Articles 20, 31, 33, 53G, 75C, 75D, 75K, 111, 169, 170, 171, and 175 to redefine eligible instruments, prohibited structures, derivative limits, and authorization requirements. It also amends Article 24 to impose stricter governance, fee transparency, interest alignment, and capital call disclosure requirements for local investment funds, venture capital, private equity, real estate, forest, and infrastructure funds.
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