On July 10, the Banking and Insurance Superintendency (SBS, in Spanish) opened a consultation on the draft “Regulation for a Special Regime to Manage Market Conduct in the Financial System.”. Access the text by clicking here. Those interested in participating may send their contributions and suggestions until August 10, 2020.

The idea is to help the entity to define the regulatory requirements for managing market conduct within the financial system so that they are commensurate with the nature, size, complexity and/or volume of operations of the specialized companies as well as the complementary and related services of the financial system.

The draft regulations propose, among other points, that companies have a Market Conduct Officer, charged with ensuring compliance with the regulations approved. It also suggests lines of action to address user complaints and the principles of transparency of information and business practices.

Those interested in participating can send their contributions through the following electronic form, which will be available until August 10.