Regulatory Alerts2022-03-24 | Resolución SBS 949-2022Added · Updated
Resolution SBS No. 949-2022: Amending the Regulation for the Election of Representatives to the Board of Directors of Savings and Credit Municipal Banks
This resolution amends the Regulation for the Election of Representatives to the Board of Directors of Savings and Credit Municipal Banks to update director qualification requirements in light of the national emergency caused by the COVID-19 pandemic. Specifically, it extends the experience verification period for managerial or directorial roles from the last eight years to the last twelve years. Additionally, it mandates that designated entities submit documented curricula vitae and financial statements or annual income tax declarations to prove annual sales or revenues exceeding 850 tax units (UIT). These changes take effect the day after publication in the Official Gazette El Peruano.
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