Regulatory Alerts2017-08-18 | Resolución SBS 3274-2017Added · Updated
Resolution SBS No. 3274-2017: Approves Market Conduct Management Regulation for the Financial System and amends the Accounting Manual and Credit and Debit Card Regulations
Resolution SBS No. 3274-2017 approves the Regulation on Market Conduct Management of the Financial System, which applies to companies under Article 16 of the General Law, the Bank of the Nation, and the Agricultural Bank. The regulation mandates that companies implement market conduct management through specific policies, procedures, a management manual, a code of good practices, and an annual training plan. It requires the designation of a full-time Market Conduct Officer with defined responsibilities, including the preparation of annual work programs and semi-annual and annual management reports submitted to the Superintendence. Additionally, the resolution modifies the Accounting Manual for Financial System Companies to require credit card information for supervision and updates the Regulation on Credit and Debit Cards.
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