Regulatory Alerts2017-10-25 | NDMC-14Added · Updated
Technical Standards for the Registration and Commercialization of Participation Quotas of Foreign Investment Funds
The Committee of Standards of the Central Reserve Bank of El Salvador issued NBCR-07/2017, effective November 15, 2017, establishing requirements for the registration and commercialization of Foreign Investment Fund quotas in El Salvador. The regulation mandates that authorized Investment Fund Managers, Stockbrokerage Houses, and other legal entities submit specific documentation, including risk classifications, audited financial statements, and board certifications, to the Financial System Superintendence. It sets a fifteen-business-day review period for the Superintendence to verify compliance and requires funds without risk classifications to meet minimum thresholds, such as US$30 million in assets and three years of administrator experience.