Ecuador – CM AM

2024, Cross-border, Update

Update BRP – Country Manual Asset Management

Ecuador

BRP SA - Ecuador CM AM
BRP SA – Ecuador CM AM

BRP has published its latest Country Manuals Asset Management for Ecuador

SOURCE OF CHANGESANSWERS
  Law/Regulation  No
  New Position of the Authorities  No
  Evolution of Expert’s interpretation  Yes

Definitions & Concepts, Regulatory Overview and Behaviour Template

The Country Manual has been reviewed to ensure that the content of all the documents remains accurate and up to date.

Regulatory changes

The Country Manual has been reviewed to ensure that the content of all the documents remains accurate and up to date.

Material changes

The changes/modifications are as follows:

The provision of macroeconomic analysis and financial research documents/reports (both without reference to any specific investment services and/or financial products) onshore in Ecuador (at target) is now not recommended due to its close connection with regulated financial activities. The Country Manual Asset Management Behaviour Template (CM AM BT) therefore now provides the answer “Grey zone/NO”.In this context, the publication of newspaper articles and interviews (even without specific information on strategies, products or services) should also be avoided, as this could be regarded as marketing/promotion of investment services by a foreign (non-licensed) investment firm. Accordingly, the response of the CM AM BT in the relevant scenarios is “NO”.


Non-material changes

Some comments and content have been slightly reworded in the CM, without introducing substantive changes to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.

For more information, please contact us: info@brpsa.com

Geneva, September 11th, 2024