Regulatory Alerts2017-12-01 | NDMC-17Added · Updated
Technical Standards for Closed-End Real Estate Investment Funds
The Committee of Standards of the Central Reserve Bank of El Salvador issues these standards to regulate Closed-End Real Estate Investment Funds, applying to authorized Investment Fund Managers and Selling Entities. The document mandates specific operational requirements, including risk profile assessments for investors, detailed internal control policies for real estate assets and tenants, and strict registration procedures with the Superintendence of the Financial System. It requires the submission of comprehensive documentation, such as internal regulations, placement prospectuses, and five-year financial projections, with an effective date of February 1, 2018.
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