Regulatory Alerts2016-04-28 | SGDB N° 021/2016Added · Updated
SGDB N° 021/2016: Requirements for Incorporation of Investment Fund Management Companies into the Integrated Payment Settlement System
The Central Bank of Bolivia mandates that Investment Fund Management Companies (SAFIs) must join the Integrated Payment Settlement System (LIP) within 120 calendar days of the circular's publication, including a 20-day window to submit required documentation. SAFIs must submit a subscription request for the LIP Participation Contract along with legalized copies of their constitution, ASFI operating authorization, commercial registry certificate, statutes, legal representation power of attorney, and identity documents, as well as a simple copy of their tax registration. The legal power of attorney must explicitly authorize the representative to generate digital signatures, execute contracts with the Central Bank, authorize account debits and transfers, and handle digital certificate exchanges. The power of attorney must also be inscribed in the Commercial Registry in accordance with Article 165 of the Commercial Code.