By: Jorge Córdova
El día 6 de febrero de 2020, se publicó en el Diario Oficial “El Peruano”, el Decreto Supremo Nº 003-2020-SA, mediante la cual se aprobó el Reglamento que establece las Reglas de
Hace ya algún tiempo que Bitcoin se encuentra en la mira de las autoridades nacionales e internacionales, quienes han discutido acerca de la necesidad de su regulación; sin embargo, este interés se ha exacerbado más…
This new regulation restricts private pension plans, and insurance cooperatives, microinsurers and insurance companies operating only with DPVAT (mandatory auto insurance for personal damages caused by vehicles) to accept risks in retrocession¹.
Pursuant to this new rule, retrocession with insurers placed in Brazil or abroad can be placed directly with the insurer or intermediated by reinsurance brokers, provided that the insurer operates in the line of business which is being retroceded.
Insurers can accept in retrocession business from reinsurers based abroad, registered or not by SUSEP. Such placements may be intermediated by foreign reinsurance brokers not registered with SUSEP. However, insurers cannot accept retrocession business from foreign insurers, registered or not with SUSEP.
(Portuguese language is below)…
Please read the Q&A with members of our network firm, Campos Mello Advogados, in the recent issue of Latin Lawyer discussing the Oil & Gas Sector in Brazil. You may access the full content of…
Guest post by Hernán D. Camarero, Partner in Richards, Cardinal, Tützer, Zabala & Zaefferer, an independent law firm
Argentina’s Financial Information Unit (FIU) – the authority that enforces the law on prevention of money-laundering activities and terrorism financing Nr. 25,246, as amended (the AML Act) – has issued Resolution Nr. 30-E/2017 for financial institutions (FIs) and foreign exchange entities as obliged subjects –FIU’s reporting agents – under the AML Act. Res. 30 replaces and abrogates former FIU Resolution Nr. 121/11. It represents another important move by Argentina in its further integration into the international financial and banking systems.…
ANVISA – Brazil’s National Health Surveillance Agency – has taken a significant step in strengthening its regulatory framework.
In promulgating RDC No. 153/2017, it is reducing the amount of regulatory red tape in the licensing of companies subject to health surveillance.
The strategic goal of this ANVISA resolution is to rationalize, simplify and harmonize procedures and requirements related to health surveillance licensing. RDC No. 153/2017 brings an interesting legislative approach to the technical regulation of the subject matter by establishing degrees of risk in business development in the life sciences and health sectors in Brazil. This further strengthens standardized procedures for licensing-related safety.…
The principal goal of International Financial Entities (IFEs) is to attract United States and foreign investors to Puerto Rico. IFEs are licensed and regulated by the Office of the Commissioner of Financial Institutions pursuant to…
HR 6427, a potentially important piece of financial services related legislation, has been passed by the US House of Representatives by a vote of 391-2. Entitled “The Creating Financial Prosperity for Businesses and Investors Act,” the bill aggregates six House Financial Services Committee measures that each previously passed the House with bipartisan support.
The bill is seen as a move by Republican leadership, particularly newly re-elected Financial Services Committee Chairman Jeb Hensarling (R- TX), to promote capital formation and remove barriers to growth faced by small businesses and startups. While there is no guarantee the Senate will approve the Bill, the House would not be trying to get something to the Senate unless there was at least some chance for it to get through. Observers have even suggested that individual pieces of HR 6427 – which is more or less a compilation of prior bills approved by the House – may get through the Senate in the wake of the House’s recent and overwhelmingly bi-partisan approval.
Of particular relevance to financial services industry practitioners are the following portions of the bill:
Find out more about these aspects of the bill by contacting the author.