Regulatory Alerts2016-03-16 | NDMC-06Added · Updated
Technical Standards for the Authorization, Registration and Operation of Investment Funds
The Central Bank of Reserve of El Salvador establishes technical standards for the authorization, registration, and operation of Open and Closed Investment Funds, requiring their inscription in the Public Stock Registry of the Superintendence of the Financial System. The rules mandate specific obligations for Fund Managers, including the implementation of due diligence and investor profiling procedures to assess risk tolerance, as well as strict requirements for the content of offering prospectuses and subscription contracts. Additionally, the document defines the roles of authorized entities such as brokerages and commercializing entities, and sets forth transparency and consumer protection mandates regarding the disclosure of investment risks and fees.
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