Regulatory Alerts2017-03-08 | NDMC-12Added · Updated
Technical Standards for the Trading of Foreign Securities
The Standards Committee of the Central Reserve Bank of El Salvador issued these standards to regulate the public offering and trading of foreign securities in the Salvadoran market. The document establishes distinct authorization and registration procedures for securities from Central American entities versus those from other jurisdictions, requiring specific documentation such as risk classifications and prospectuses. It mandates that brokerage houses obtain prior authorization to intermediation operations and adhere to strict timelines, including fifteen business days for Superintendence review and ten business days to remedy deficiencies. The regulations apply to authorized stockbroker agents, stock exchanges, brokerage houses, and securities depository companies.