Regulatory Alerts2022-12-30 | NSP-59Added · Updated
Technical Standards for the Authorization, Registration, and Operation of Voluntary Pension Savings Funds
The Committee of the Central Bank of El Salvador issued these standards to regulate the registration and operation of Voluntary Pension Savings Funds, requiring authorization from the Superintendence of the Financial System and prior approval from the Central Bank for banks. The rules apply to specific financial institutions, including banks, cooperative banks, pension fund administrators, fund managers, and savings and credit societies, mandating strict segregation of functions, risk profile assessments for participants, and adherence to investment policies defined in fund prospectuses.
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