Regulatory Alerts2020-05-15
Added · Updated
Urgency Decree No. 056-2020
The decree authorizes financial system entities and electronic money issuers to open mass or individual accounts for beneficiaries of state-allocated funds without prior contracts, permitting the sharing of identification data with paying entities. It allows entities under the Superintendence of the Securities Market to hold non-presential or virtual shareholder and bondholder meetings during the National Emergency and for 90 days thereafter. Additionally, it facilitates access to non-financial instruments from the MIPYME Emprende Fund, extends the deadline for regional and local governments to request financial facilities to July 31, 2020, and modifies regulations regarding the free disposition of Compensación por Tiempo de Servicios (CTS) funds for workers in perfect suspension of labor.
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