Regulatory Alerts2017-12-01 | NDMC-16Added · Updated
Technical Standards for the Transfer or Merger of Investment Funds
The Central Reserve Bank of El Salvador issues technical standards governing the transfer and merger of Open and Closed Investment Funds. The document mandates specific procedures, including a 15-day deadline for transfers following manager authorization revocation and a 30-day deadline for voluntary transfers. It requires acquiring managers to meet resource and authorization criteria and obligates the Superintendence of the Financial System to process registry modifications within 30 business days.
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