Regulatory Alerts2018-11-21 | NDMC-19Added · Updated
Technical Standards for Closed-End Real Estate Development Investment Funds
The Committee of Norms of the Central Reserve Bank of El Salvador issues technical standards governing Closed-End Real Estate Development Investment Funds, requiring their registration with the Superintendence of the Financial System. The document mandates that funds invest only in domestic projects with defined completion deadlines and feasibility studies, while prohibiting investments in encumbered assets. It imposes specific obligations on Investment Fund Managers and Marketing Entities, including strict investor risk profiling, detailed disclosure requirements, and the submission of comprehensive documentation such as internal regulations and five-year cash flow projections.
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