Regulatory Alerts2022-01-14 | Resolución SBS 126-2022Added · Updated
SBS Resolution No. 126-2022: Amending the Regulation of Infractions and Sanctions and Incorporating Procedure No. 202 for Authorization of Temporary Activities in Novel Models
The Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS) amends the Regulation of Infractions and Sanctions to classify unauthorized or non-compliant pilot tests of novel models as serious or very serious infractions, with very serious infractions defined by an economic impact of 100 UIT or more. The resolution also incorporates Procedure No. 202 into the Single Text of Administrative Procedures to govern the authorization for these temporary activities. These changes apply to supervised entities, including those in the organization phase, and enter into force on February 1, 2022.
Topics
Share