NATIONAL CONGRESS
DECREE A.N. No. 8651 DECREE OF APPROVAL OF THE “IBEROAMERICAN COOPERATION AGREEMENT ON INVESTIGATION, ASSURANCE AND OBTAINING EVIDENCE IN THE FIELD OF CYBER-CRIME” dated February 25, 2020. Through this Decree is approved the “Iberoamerican Cooperation Agreement on Investigation, Assurance and Obtaining Evidence in Cybercrime”, signed on May 28, 2014 in Madrid, headquarters of the Conference of Ministers of Justice of Iberoamerican countries (COMJIB). The purpose of this agreement is to strengthen the mutual cooperation of the Parties to adopt assurance measures and obtain evidence to fight cybercrime. Gazette No. 42, Pages 2270 to 2274, dated 03/03/2020.
LAW No. 1023 LAW FOR THE DEVELOPMENT AND OPERATION OF TOURIST MARINES dated March 12, 2020. The object of this law is the provision of concessions for the implementation of tourist development of marinas, yacht club, shipyards and berths, as well as facilitating the navigation of water tourism by foreign and national vessels; to contribute to the development of the activity of the aquatic tourism, the sustainable development of the coastal zones, to grant fiscal benefits to the definitive import of spare parts and accessories for tourist pleasure boats. Gazette No. 60, Pages 3122 to 3130, of 03/27/2020.
LAW No. 1024 LAW OF REFORM AND ADDITIONS TO LAW No. 380, LAW OF TRADEMARKS AND OTHER DISTINCTIVE SIGNS dated March 26, 2020. With this reform and additions to the Law of Trademarks and Other Distinctive Signs, official fees are increased of different concepts related to the registration of trademarks and trade names, other requirements for the submission of applications are added. One of the most relevant points is the advance payment of fees, without which no application for registration or for the renewal of a trademark registration will be processed. Gazette No. 65, Pages 3378 to 3386, of 04/03/2020.
LAW No. 1025 LAW OF REFORM AND ADDITIONS TO LAW No. 354, LAW OF PATENTS OF INVENTION, UTILITY MODELS AND INDUSTRIAL DESIGNS dated March 26, 2020. With this reform and additions to the Law of Patents of Invention, Utility Models and Industrial Designs incorporate new fees that were not contemplated in the law, likewise increases the fees that were already stipulated, however, no modification related to the protection process itself is made. Gazette No. 65, Pages 3386 to 3387, of 04/03/2020.
SUPERINTENDENCY OF BANKS AND OTHER FINANCIAL INSTITUTIONS
RESOLUTION No. CD-SIBOIF-1153-1-FEB11-2020 dated February 11, 2020. STANDARD ON UPDATING THE SHARE CAPITAL OF BANKING ENTITIES. The aforementioned Standard is intended to update the minimum share capital required for national banks or branches of foreign banks by C $ 397,702,000.00. Which must be paid no later than 7 calendar days after the next Ordinary General Shareholders Meeting. For national banks or branches of foreign banks that are authorized to incorporate and operate after the entry into force of this Standard, the share capital must be updated at the time of its incorporation. Gazette No. 48, Page 2578, of 03/11/2020.
RESOLUTION No. CD-SIBOIF-1153-2-FEB11-2020 dated February 11, 2020. STANDARD ON UPDATING THE SHARE CAPITAL OF FINANCIAL COMPANIES. The aforementioned Standard is intended to update the minimum share capital required for financial companies by C $ 65, 621,000.00. Which must be paid no later than 7 calendar days after the next Ordinary General Shareholders Meeting. For financial companies that are authorized to incorporate and operate after the entry into force of this Standard, the share capital must be updated at the time of its incorporation. Gazette No. 48, Pages 2578 and 2579, of 03/11/2020.
RESOLUTION No. CD-SIBOIF-1153-3-FEB11-2020 dated February 11, 2020. STANDARD ON UPDATING THE SHARE CAPITAL OF STOCK EXCHANGES. The aforementioned Standard is intended to update the minimum share capital required for the Stock Exchanges by C $ 18,901,000.00. Which must be paid no later than 7 calendar days after the next Ordinary General Shareholders Meeting. For the Stock Exchanges that are authorized to be established and operate after the entry into force of this Standard, the share capital must be updated at the time of its incorporation. Gazette No. 48, Pages 2579 and 2580, of 03/11/2020.
RESOLUTION No. CD-SIBOIF-1153-4-FEB11-2020 dated February 11, 2020. STANDARD ON UPDATING THE SHARE CAPITAL OF CENTRAL SECURITIES. The aforementioned Standard is intended to update the minimum share capital required for the Central Securities in C $ 9, 451,000.00. Which must be paid no later than 7 calendar days after the next Ordinary General Shareholders Meeting. For the Central Securities that are authorized to be established and operate after the entry into force of this Standard, the share capital must be updated at the time of its incorporation. Government Gazette No. 48, Page 2580, of 03/11/2020.
RESOLUTION No. CD-SIBOIF-1164-1-MAR31-2020 dated March 31, 2020. STANDARD FOR VOLUNTARY TRANSFER FROM FINANCIAL TO MICROFINANCE. The aforementioned Standard is intended to establish the requirements to be met by those financial companies that, being in operation as a going concern, decide to voluntarily request the revocation of their license as a regulated and supervised entity by the Superintendency, in order to continue providing credit services as a Microfinance Institution, under the regime of the Law of Microfinance. Gazette No. 72, Pages 3672 to 3674, of 04/23/2020.