Regulatory Alerts2021-10-04 | NDMC-22Added · Updated
Technical Standards for Reporting and Disclosure of Material Events
The Committee of Standards of the Central Reserve Bank of El Salvador issued technical standards requiring eight categories of financial entities, including securities issuers and brokerage houses, to report material events to the Superintendence by the next business day. The regulation mandates the appointment of a delegate for submissions, the establishment of internal policies approved by the Board of Directors, and the public disclosure of such events on the entity's website. Entities were granted a ninety-day adaptation period to comply with these requirements, which entered into force on October 21, 2021.
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