Regulatory Alerts2017-01-18 | Resolución SBS 272-2017Added
SBS Resolution No. 272-2017: Approves the Regulation of Corporate Governance and Comprehensive Risk Management and establishes other provisions
This resolution approves the Regulation of Corporate Governance and Comprehensive Risk Management, which applies to financial and insurance companies, private pension fund administrators, and other entities supervised by the Superintendence. The regulation establishes new criteria for corporate governance, including requirements for independent directors, board committees, remuneration systems, market conduct, and conflict of interest management. It mandates that companies with five or fewer directors must have at least one independent director, and those with six or more directors must have at least two. Additionally, it revises aspects of comprehensive risk management, such as the compliance function, and requires companies to adopt a Code of Ethics and Conduct.
More like this from SBS
SBS published 4 documents in the last 30 days. We email you each new one the day it's published.