Regulatory Alerts2022-07-25 | NDMC-23Added · Updated
Technical Standards on Client Registration and Intermediation Contracts Used in the Securities Market by Brokerage Houses
The Central Bank of Reserve of El Salvador mandates that authorized brokerage houses maintain physical or electronic client registries containing specific identification, tax, and contact data, while requiring due diligence policies for anti-money laundering compliance. Brokerage houses must utilize standardized intermediation contracts that detail party identification, obligations, commissions, and complaint procedures, and are permitted to use electronic signatures and authentication mechanisms for client linking. These standards repeal the 2006 Resolution RSTG-1/2006 and entered into force on August 12, 2022, with non-compliance subject to sanctions under the Financial System Supervision Law.
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